Total red meat supplies in US freezers on Nov. 30 were up about 1% from the previous month but down about 5% from last year, according to the USDA’s monthly Cold Storage report Tuesday.
Total stocks of chicken were up slightly from the previous month and up about 1% from last year, the report said.
FROZEN BEEF SUPPLIES MIXED
Total pounds of beef in freezers, at 425.546 million pounds, were up 11.0 million, or 2.65%, from the previous month’s 414.546 million pounds but down 15.056 million, or 3.42%, from last year’s 440.602 million.
Of that, 385.303 million pounds were classed as boneless beef, up 9.610 million, or 2.56%, from 375.693 million last month but down 12.900 million, or 3.24%, from 398.203 million last year.
Another 40.243 million pounds was classed as beef cuts, up 1.390 million, or 3.58%, from 38.853 million in October but down 2.156 million, or 5.09%, from 42.399 million in November of 2024.
FROZEN PORK STOCKS DECLINE
Frozen pork supplies, at 371.270 million pounds, were down 4.822 million pounds, or 1.28%, from 376.092 million the previous month and down 20.488 million, or 5.23%, from 391.758 million last year.
Stocks of pork bellies, at 21.259 million pounds, were up 5.584 million, or 35.6%, from 15.675 million last month but down 1.659 million, or 7.24%, from 22.918 million last year.
Frozen ham supplies totaled 71.844 million pounds, down 29.956 million, or 29.4%, from 101.800 million last month but up 2.672 million, or 3.86%, from 69.172 million last year.
Another 32.096 million pounds were frozen loins, down 39,000 pounds, or 0.12%, from 32.135 million a month earlier and down 7.10 million, or 18.1%, from 39.196 million from a year earlier.
Frozen pork ribs totaled 76.699 million pounds, up 8.238 million, or 12.0%, from 68.461 million last month but down 1.449 million, or 1.85%, from 78.148 million last year.
FROZEN CHICKEN STOCKS RISE
Chicken stocks in cold storage totaled 814.919 million pounds on Nov. 30, up 3.568 million, or 0.44%, from 811.351 million a month earlier and up 5.880 million, or 0.73%, from 809.039 million a year earlier.
Of that, 242.156 million pounds were breasts and breast meat, up 5.011 million pounds, or 2.11%, from 237.145 million last month and up 6.623 million, or 2.81%, from 235.533 million last year.
Another 55.594 million pounds were leg quarters, down 667,000, or 10.7%, from 62.264 million a month earlier and down 10.575 million, or 16.0%, from 66.169 million a year earlier.
Total pounds of turkey in freezers were down 41% from last month and down 21% from Nov. 30, 2024.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $228.63 per cwt to $230.49, compared with last week’s range of $225.74 to $232.96 per cwt. FOB dressed steers and heifers went for $359.58 per cwt to $363.69, compared with $353.34 to $363.91.
The USDA choice cutout Wednesday was down $1.15 per cwt at $354.62 while select was off $3.84 at $345.75. The choice/select spread widened to $8.87 from $6.18 with 106 loads of fabricated product and 12 loads of trimmings and grinds sold into the spot market.
The USDA-listed the weighted average wholesale price for fresh 90% lean beef as $394.63 per cwt, and 50% beef was $125.77.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $0.90 to $1.10 a bushel over the Mar corn contract, which settled at $4.51, up $0.03 1/2.
No live cattle contracts were tendered for delivery Wednesday.
The CME Feeder Cattle Index for the seven days ended Tuesday was $354.40 per cwt, up $1.32. This compares with Wednesday’s Jan contract settlement of $344.72, down $0.10.