Meat Stocks Follow Seasonal Fall in US29 August 2013
US - US cold storage figures for the end of July showed that beef and pork stocks were following the normal trend of declining through summer, while chicken stocks (except for breast meat) went against the trend and increased according to data from the USDA’s Cold Storage Report.
Anaysts at Meat and Livestock Australia said that most of the change in beef stores was in frozen boneless beef (mainly manufacturing product), which was three per cent lower than in June, at 419 million lbs – but remains eight per cent above year-ago levels.
Beef cuts were down by five per cent on June, at 45 million lbs, and 39 per cent lower than last year, reflected in the high beef cut-out prices in recent months.
Pork stocks were generally much lower, except for hams, which were 12 per cent higher than a month ago and 15 per cent higher than last year, at 182 million lbs.
There was a large range in the change in stocks between pork cuts, with bellies and loins, in particular, much lower than even a month ago.
For poultry, breast meat continues to drive prices, although very high stocks of whole broilers, leg quarters and wings are expected to drag on prices over the next few months.
TheMeatSite News Desk