News

Poultry, cheese supplies at record levels

The USDA says there was more pork in cold storage at the end of February than some analysts were expecting. Pork stocks were reported at 615.979 million pounds, up 1% on the year, with good domestic and export demand mostly canceled out by another month of record production. Boneless and total ham stocks were set record highs. Beef was below many estimates at 479.282 million pounds, but still 4% above a year ago with a slight increase in monthly production. Total red meat stocks were 1.140 billion pounds, an increase of 2% on the year.

U.S. poultry stocks at the end of February were at record high levels. The total of 1.3331 billion pounds was only slightly above a year ago but indicates that high levels of production continue to cancel out generally steady demand. Chicken was reported at 874.814 million pounds, down 3% on the year, with record large supplies of thigh meat and drumsticks. Turkey in cold storage was 452.243 million pounds, up 6%, including all-time highs for whole hens and breast meat.

The USDA says the amount of cheese in cold storage during February was up on the year while butter was down, both were up on the month, with continued high production levels. Cheese stocks totaled 1.370 billion pounds, a record high and unchanged from January but up 4% last year, with the largest increase in non-American cheese stocks. Other types of cheese were also at record levels. Butter stocks were pegged at 242.513 million pounds, up 15% from January but down 9% from 2018.