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CME: Increase in Overall Beef, Pork, Poultry Stocks

by 5m Editor
25 October 2010, at 12:57am

US - USDA released on Friday the results of its monthly cold storage inventory survey, write Steve Meyer and Len Steiner.

The survey showed that overall beef, pork and poultry stocks increased about 1.2 per cent from the previous month but they remain about 9 per cent lower than a year ago. Below are some of the details:

Pork: Total pork inventories rose sharply in September but they remain well below year ago levels. Pork stocks were reported to be 425.5 million pounds, 9.6 per cent higher than the previous month but 19.5 per cent lower than a year ago and still some 12.4 per cent lower than the five year average. One of the main reasons for the monthly increase in pork inventories was the surge in the number of hams put away in cold storage. Seasonally ham inventories increase in anticipation of the holiday demand but the surge this year was one of the most significant in recent years. Total ham inventories were reported to be 162.9 million pounds, 14.7 per cent higher than the previous month and they are now 9.3 per cent higher than a year ago. On average in the past five years, September ham inventories rose about 10 million pounds between August and September. This year the month to month increase was about 21 million pounds. Pork belly stocks, on the other hand, have been almost completely depleted. At 4.7 million pounds, pork belly inventories are down 87.6 per cent from a year ago the lowest since the survey began. Pork rib inventories were 40.7 million pounds, 21.8 per cent higher than the previous month but still some 24.5 per cent lower than a year ago. Pork trim inventories were 28.7 million pounds, 27.7 per cent lower than a year ago and 23 per cent lower than the five year average.

Beef: Total beef stocks as of September 30 were 397.6 million pounds, 7.3 per cent lower than a year ago and 13.6 per cent lower than the five year average. Boneless beef stocks were reported to be 330.4 million pounds, 9.1 per cent lower than a year ago and 16.6 per cent lower than the five year average. A sharp decline in beef imports has limited the supply of boneless beef in storage. Bone in beef stocks, on the other hand, are up 2.9 per cent compared to last year.

Poultry: Total broiler inventories at the end of September were 713.0 million pounds, 12.4 per cent lower than a year ago but only 0.9 per cent higher than the five year average. Turkey inventories were 469.9 million pounds, 23.5 per cent lower than a year ago and 12.4 per cent lower than the five year average.

Further Reading

- You can view the full report by clicking here.