Cold Stored Red Meat Supplies Rise 1-24-20 – Total red meat supplies in US cold storage as of Dec. 31 were up about 1% from a month earlier and up 5% from a year earlier, said the USDA’s National Agricultural Statistics Service in its monthly Cold Storage report. Total frozen poultry supplies at the end of December were down about 1% from a month earlier but up 1% from a year earlier, NASS said in the same report. BEEF SUPPLIES MIXED Total pounds of beef in the freezers came to 481.012 million pounds, up 2.751 million, or 0.58%, from 478.261 million the previous month but down 14.612 million, or 2.95%, from 495.624 million a year earlier. Boneless beef stocks in cold storage Dec. 31 totaled 450.908 million pounds, up 5.379 million, or 1.21%, from 445.529 million a month earlier but down 11.164 million, or 2.42%, from 462.072 million a year earlier. Stockpiles of beef cuts in cold storage amounted to 30.104 million pounds, down 2.628 million, or 8.03%, from 32.732 million a month earlier and down 3.448 million, or 10.3%, from 33.552 million a year earlier. PORK SUPPLIES UP Frozen pork supplies totaled 580.904 million pounds, up 6.064 million, or 1.05%, from 574.840 million the previous month and up 75.617 million, or 15.0%, from 505.287 million last year. Stocks of pork bellies, at 68.015 million pounds, were up 13,599 million, or 25.0%, from 54.416 million a month earlier and up 25.764 million, or 61.0%, from 42.251 million a year earlier. The stockpile of hams in cold storage came to 84.981 million pounds, down 25.654 million, or 23.2%, from 110.635 million a month earlier but up 11.863 million, or 16.2%, from 73.118 million a year earlier. The volume of pork loins in cold storage totaled 49.651 million pounds, up 932,000, or 1.91%, from 48.719 million at the end of November but up 15.559 million, or 45.6%, from 34.092 at the end of December 2018. CHICKEN STOCKS MIXED Total stocks of chicken were 962.255 million pounds, down 17.068 million, or 1.74%, from 979.323 million the previous month but up 80.629 million, or 9.15%, from 881.626 million last year. Whole chickens on ice amounted to 20.414 million pounds, down 2.423 million, or 10.6%, from 22.837 million a month earlier but up 2.702 million, or 15.3%, from 17.712 million a year earlier. Chicken breast meat in freezers totaled 216.664 million pounds, up 9.736 million, or 4.71%, from 206.928 million a month earlier and up 28.353 million, or 15.1%, from 188.311 a year earlier. Leg quarters on ice totaled 81.588 million pounds, down 16.620 million, or 16.9%, from 98.208 million a month earlier but up 20.153 million, or 32.8%, from 61.435 million a year earlier. TURKEY STOCKS MIXED Total pounds of turkey in cold storage on Dec. 31 were 233.147 million, up 11.151 million, or 5.02%, from 221.996 million a month earlier but down 69.616 million, or 23.0%, from 302.763 million a year earlier. CATTLE, BEEF RECAP Cash cattle trading in the Plains this week was at $123 to $127 per cwt, down $1 to up $2.50 from last week. Dressed-basis trading was at $198 to $199.50 per cwt, steady to up $0.50. The USDA choice cutout Thursday was up $0.36 per cwt at $215.32, while select was off $0.82 at $211.20. The choice/select spread widened to $4.12 from $2.94 with 99 loads of fabricated product sold into the spot market. The CME Feeder Cattle index for the seven days ended Wednesday was $144.86 per cwt, down $0.31. This compares with Thursday’s Jan contract settlement of $142.77, down $1.15 and the Mar close of $140.52. IN OUR OPINION –Could the new be wearing off plant-based fake meat? Burger King cut its price on the Impossible Whopper Thursday, which is not something to do to a product that has a robust fan base. It’s nice that it’s there as an option for customers who can’t, or won’t, eat beef, but apparently sales aren’t going so well. –However, there will always be a market for fake meat. Some people can’t eat real meat, and an increasing number of consumers are falling for the premise that animal agriculture is a big part of the planet’s warming trend. Even though the science doesn’t follow that animal agriculture plays a large role in global warming, many current and potential customers do. It’s time to take the story to them and not just call them names. Sure, farmers and ranchers today are college educated, and have some of the best research about how to grow crops and raise livestock and poultry in history, but a growing number of the public does not, and they are listening to the loudest voices they can hear.

Lester Aldrich

Total red meat supplies in US cold storage as of Dec. 31 were up about 1% from a month earlier and up 5% from a year earlier, said the USDA’s National Agricultural Statistics Service in its monthly Cold Storage report.

Total frozen poultry supplies at the end of December were down about 1% from a month earlier but up 1% from a year earlier, NASS said in the same report.

 

BEEF SUPPLIES MIXED

 

Total pounds of beef in the freezers came to 481.012 million pounds, up 2.751 million, or 0.58%, from 478.261 million the previous month but down 14.612 million, or 2.95%, from 495.624 million a year earlier.

Boneless beef stocks in cold storage Dec. 31 totaled 450.908 million pounds, up 5.379 million, or 1.21%, from 445.529 million a month earlier but down 11.164 million, or 2.42%, from 462.072 million a year earlier.

Stockpiles of beef cuts in cold storage amounted to 30.104 million pounds, down 2.628 million, or 8.03%, from 32.732 million a month earlier and down 3.448 million, or 10.3%, from 33.552 million a year earlier.

 

PORK SUPPLIES UP

 

Frozen pork supplies totaled 580.904 million pounds, up 6.064 million, or 1.05%, from 574.840 million the previous month and up 75.617 million, or 15.0%, from 505.287 million last year.

Stocks of pork bellies, at 68.015 million pounds, were up 13,599 million, or 25.0%, from 54.416 million a month earlier and up 25.764 million, or 61.0%, from 42.251 million a year earlier.

The stockpile of hams in cold storage came to 84.981 million pounds, down 25.654 million, or 23.2%, from 110.635 million a month earlier but up 11.863 million, or 16.2%, from 73.118 million a year earlier.

The volume of pork loins in cold storage totaled 49.651 million pounds, up 932,000, or 1.91%, from 48.719 million at the end of November but up 15.559 million, or 45.6%, from 34.092 at the end of December 2018.

 

CHICKEN STOCKS MIXED

 

Total stocks of chicken were 962.255 million pounds, down 17.068 million, or 1.74%, from 979.323 million the previous month but up 80.629 million, or 9.15%, from 881.626 million last year.

Whole chickens on ice amounted to 20.414 million pounds, down 2.423 million, or 10.6%, from 22.837 million a month earlier but up 2.702 million, or 15.3%, from 17.712 million a year earlier.

Chicken breast meat in freezers totaled 216.664 million pounds, up 9.736 million, or 4.71%, from 206.928 million a month earlier and up 28.353 million, or 15.1%, from 188.311 a year earlier.

Leg quarters on ice totaled 81.588 million pounds, down 16.620 million, or 16.9%, from 98.208 million a month earlier but up 20.153 million, or 32.8%, from 61.435 million a year earlier.

 

TURKEY STOCKS MIXED

 

Total pounds of turkey in cold storage on Dec. 31 were 233.147 million, up 11.151 million, or 5.02%, from 221.996 million a month earlier but down 69.616 million, or 23.0%, from 302.763 million a year earlier.

 

CATTLE, BEEF RECAP

 

Cash cattle trading in the Plains this week was at $123 to $127 per cwt, down $1 to up $2.50 from last week.  Dressed-basis trading was at $198 to $199.50 per cwt, steady to up $0.50.

The USDA choice cutout Thursday was up $0.36 per cwt at $215.32, while select was off $0.82 at $211.20.  The choice/select spread widened to $4.12 from $2.94 with 99 loads of fabricated product sold into the spot market.

The CME Feeder Cattle index for the seven days ended Wednesday was $144.86 per cwt, down $0.31.  This compares with Thursday’s Jan contract settlement of $142.77, down $1.15 and the Mar close of $140.52.