News

Beef, pork stocks down on month, up on year

The USDA’s delayed cold storage report showed better beef demand during December 2018 than what some analysts were expecting.

Beef totaled 495.624 million pounds, down 19.096 million on the month, Allendale Incorporated was projecting an increase, but up 6.171 million pounds on the year, at least partially because of record annual beef production.

Pork came out at 505.287 million pounds, 2.27 million less than the previous month, a lower than expected decrease, but up 14.505 million on the year, also at least partially because of record annual pork production.

Cold storage numbers for January are out March 7th.