News

USDA: pork stocks up on year

The USDA says pork in cold storage at the end of June was above year ago levels.

Pork stocks were reported at 622.367 million pounds, down slightly on the month, but up 11% on the year because of high production levels and lack of expected export demand from China. The USDA says all-time monthly highs were notched in boneless hams, bone-in loins, total loins, and ribs. Beef was down 3% on the month and 11% on the year at 394.525 million pounds with a more stable weather pattern in parts of the U.S. allowing grilling season to finally get underway. Both pork and beef stocks topped pre-report expectations from Allendale Inc. The total for red meat was slightly lower than a year ago at 1.061 billion pounds.

Chicken came 836.220 million pounds, slightly higher than the previous month, but down 6% from last year, also benefiting from improved grilling weather. Drumsticks and thigh meat were at record levels.  Turkey stocks were up 9% on the month, but down 4% on the year at 538.765 million pounds because of the slower than a year ago pace of production. The total for poultry was 5% lower than last year at 1.379 billion pounds.

The USDA’s poultry slaughter numbers for June are out Wednesday afternoon and red meat production numbers are scheduled for Thursday.