Frozen Meat Stocks Up From Last Year

Total red meat supplies in freezers on July 31 were down about 1% from June but were up about 23% from last year, the USDA’s National Agricultural Statistics Service said in its monthly Cold Storage report.

The report tallies the amount of meats, fruits and vegetables in US freezers on the last day of the month.

Total pounds of beef in freezers were down about 1% from the previous month but up about 27% from last year.

Frozen pork supplies were down about 2% from the previous month but up about 20% from last year.  Stocks of pork bellies were down about 20% from last month but up about 53% from last year.

Total frozen poultry supplies on July 31 were up about 5% from the previous month and up about 6 percent from a year ago. Total stocks of chicken were up about 6% from the previous month and up about 12% from last year.

Total pounds of turkey in freezers were up about 3% from last month but down about 3% from a year ago.

 

BEEF STOCKS MIXED

 

Beef in cold storage on July 31 totaled 510.841 million pounds, down 5.965 million, or 1.15%, from 516.806 million a month earlier but up 109.998 million, or 27.4%, from 400.843 million a year earlier.

Of that, 54.980 million pounds was classed as “beef cuts,” up 7.191 million, or 15.0%, from 47.789 million a month ago and up 25.287 million, or 85.2%, from 29.693 million a year ago.

Another 456.861 million was classed as “boneless” beef,” down 12.156 million, or 2.59%, from 469.017 million a month earlier but up 85.711 million, or 23.1%, from 371.150 million a year ago.

 

PORK STOCKS MIXED

 

Total pounds of pork on ice in the US came to 530.097 million pounds, down 8.623 million, or 1.60%, from 538.720 million in June but up 88.433 million, or 20.0%, from 441.664 million in July 2021.

Pork bellies in freezers totaled 42.443 million pounds, down 10.740 million, or 20.2%, from 53.183 million a month earlier but up 14.665 million, or 52.8%, from 27.778 million a year earlier.

Frozen hams totaled 42.443 million pounds, down 10.740 million, or 20.2%, from 53.183 million a month ago but up 14.665 million, or 52.8%, from 27.778 million a year ago.

Pork loins in cold storage totaled 33.024 million pounds, down 2.216 million, or 6.29%, from 35.240 million a month ago but up 1.707 million, or 5.45%, from 31.317 million a year ago.

Pork ribs on ice totaled 108.181 million pounds, down 641,000, or 0.42%, from 108.642 million a month ago but up 47.130 million, or 77.2%, from 61.051 million a year ago.

 

CATTLE, BEEF RECAP

 

The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $145.87 to $147.62 per cwt, compared with last week’s range of $142.85 to $149.00.  FOB dressed steers, and heifers went for $223.73 to $223.91 per cwt, versus $215.08 to $225.57.

The USDA choice cutout Monday was up $0.24 per cwt at $264.52 while select was up $0.42 at $238.36.  The choice/select spread narrowed to $26.16 from $26.34 with 66 loads of fabricated product and 23 loads of trimmings and grinds sold into the spot market.

The USDA said basis bids for corn from feeders in the Southern Plains were steady to down $0.20 at $2.40 to $2.50 a bushel over the Sep futures and for southwest Kansas were unchanged at $0.10 over Sep, which settled at $6.33 1/2, up $0.07 1/2.

No contracts were tendered for delivery against the Aug live cattle contract Friday.

The CME Feeder Cattle Index for the seven days ended Friday was $180.66 per cwt up $1.45.  This compares with Monday’s Aug contract settlement of $181.40, down $0.10.