Total frozen red meat supplies in US freezers on April 30 were up 4% from a month earlier and up 7% from a year earlier with total pounds of beef in freezers up 2% from March and up 3% from last year, the USDA’s National Agricultural Statistics Service said Tuesday.
NASS made the data public in its monthly Cold Storage report Tuesday and went on to say that total frozen pork supplies were up 5% from the previous month and up 9% from last year. Stocks of pork bellies were up 9% from March 30 and up 93% from last year.
Total frozen poultry supplies were up 2% from March 31 and up 7% from a year ago, NASS said. Total stocks of chicken were down 1% from the previous month but up 9% from last year. Total pounds of turkey in freezers were up 7% from last month and up 5% from April 30, 2017.
BEEF SPECIFICS
Total pounds of beef on ice in the US amounted to 471.545 million, up 7.574 million, or 1.63%, from 463.971 million a month earlier and up 13.127 million, or 2.86%, from 458.418 million a year earlier.
Total pounds of boneless beef in US freezers was reported at 434.782 million, up 8.532 million, or 2.00%, from 426.250 million a month earlier and up 19.190 million, or 4.62%, from 415.592 million a year earlier.
NASS reported 36.763 million pounds of beef cuts in cold storage at the end of April, down 958,000, or 2.54%, from 37.721 million at the end of March and down 6.063 million, or 14.2%, from 42.826 million at the end of April 2017.
A market analyst said the decline in beef cuts in storage shows the expanded demand for these products at this time of year and at this point in the US economic growth. If consumers can afford a steak to throw on the grill, many will do so.
PORK SPECIFICS
Total pounds of pork in US cold storage was reported at 641.407 million, up 30.404 million, or 4.98%, from 611.003 million a month earlier and up 87.846 million, or 14.9%, from 590.324 million a year earlier.
The amount of pork bellies taking up space in US freezers continues to abound at 64.563 million pounds, up 5.361 million, or 9.06%, from 59.202 million at the end of March and up 31.027 million, or 92.5%, from 33.536 million on April 30, 2017.
The market analyst said the large volume of frozen bellies on hand may be one reason so many fast-food restaurants are offering sandwiches festooned with bacon currently.
The total amount of pork loins in cold storage came to 40.386 million pounds, up from 39.547 a month earlier but down from 42.872 million a year earlier.
CATTLE, BEEF RECAP
No cattle sold last Wednesday on the Livestock Exchange Video Auction, compared with sales two weeks previous at $122.40 per cwt.
Cash cattle trading started last week at $117 per cwt on a live basis on Tuesday and then dipped to $115 to $116 on Wednesday, down $5 to $7 from the previous week. Thursday, sales were reported at $115 to $116. Dressed-basis trades were reported at $184 to $185 per cwt, down $8.50 to $9.50.
The USDA choice cutout Tuesday was down $1.47 per cwt at $229.35, while select was off $1.66 at $205.86. The choice/select spread widened to $23.49 from $23.30 with 95 loads of fabricated product sold into the spot market.
The CME Feeder Cattle index for the seven days ended Monday, was $133.41 per cwt, down $0.24. This compares with Tuesday’s May close of $133.95, up $0.02.