Total red meat supplies in freezers on Sep. 30 were up about 1% from the previous month and up about 17% from last year, according to the USDA’s monthly Cold Storage report Monday.
Frozen pork supplies were down slightly from the previous month but up about 14% from last year.
Total frozen poultry supplies were up slightly from the previous month and up about 10% from a year ago.
BEEF STOCKS RISE
Total pounds of beef in freezers Sep. 30 were 522.862 million pounds, up 9.052 million, or 1.76%, from 513.810 million the previous month and up 83.241 million, or 18.9%, from 439.621 million last year.
Of that, 470.030 million pounds were classed as “boneless” beef, up 7.610 million, or 1.65%, from 462.420 million a month earlier and up 65.793 million, or 16.3%, from 404.237 million a year earlier.
Another 52.832 million pounds were classed as “beef cuts,” up 1.442 million, or 2.81%, from 51.390 million last month and up from 35.384 million last year.
PORK STOCKS MOSTLY HIGHER
Total pork supplies on ice were 537.879 million pounds, down 717,000, or 0.13%, from 538.596 million a month earlier but up 67.962 million, or 14.5%, from 469.917 million a year earlier.
Of that, stocks of pork bellies, at 36.592 million pounds, were up 908,000, or 2.54%, from 35.684 million last month and up 23.664 million, or 183.0%, from 12.928 million last year.
Total stocks of hams in cold storage were 159.288 million pounds, down 4.428 million, or 2.70%, from 163.716 million last month and down 35.261 million, or 18.1%, from 194.549 million last year.
Pork loins in US freezers at the end of September totaled 37.151 million, up 3.610 million, or 10.8%, from 33.541 million last month and up 7.182 million, or 24.0%, from 29.969 million last year.
CHICKEN STOCKS MOSTLY HIGHER
Total stocks of chicken, at 873.018 million pounds, were 40.526 million, up 4.87%, from 832.493 million the previous month and up 135.986 million, or 18.5%, from 737.033 million last year.
Of that, 14.447 million pounds were whole broilers, fryers or roasters, down 1.366 million, or 8.64%, from 15.813 million a month earlier and down 1.503 million, or 9.42%, from 15.950 million a year earlier.
Another 207.389 million pounds were chicken breasts and breast meat, up 16.120 million, or 8.43%, from 191.269 million a month earlier and up 48.085 million, or 30.2%, from 159.304 million a year earlier.
Total pounds of turkey in freezers, 394.455 million pounds, were down 38.405 million, or 8.87%, percent from 432.860 million last month and down 19.673 million, or 4.75%, from 414.128 million Sep. 30, 2021.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $151.14 to $151.53 per cwt, compared with last week’s range of $143.40 to $149.70. FOB dressed steers, and heifers went for $233.05 to $233.63 per cwt, versus $227.15 to $232.51.
The USDA choice cutout Monday was up $4.21 per cwt at $257.92 while select was up $1.25 at $225.61. The choice/select spread widened to $32.31 from $29.35 with 61 loads of fabricated product and 25 loads of trimmings and grinds sold into the spot market.
The USDA said basis bids for corn from feeders in the Southern Plains were up $0.05 to $0.10 at $2.20 to $2.30 a bushel over the Dec futures and for southwest Kansas were steady at $1.00 over Dec, which settled at $6.81 1/2, down 2 3/4.
No live cattle contracts were tendered for delivery Monday.
The CME Feeder Cattle Index for the seven days ended Friday was $173.62 per cwt up $0.68. This compares with Monday’s Oct contract settlement of $175.67, up $0.40, and Nov’s $179.15, up $0.80.