Total red meat supplies in US freezers on April 30 were up about 5% from the previous month but down about 6% from last year, reported the USDA’s National Agricultural Statistics Service in its monthly Cold Storage report Friday.
Total frozen poultry supplies were down slightly from the previous month and down about 5% from a year ago.
BEEF STOCKS DECLINE
Total pounds of beef in freezers, at 418.147 million pounds, were down 7.026 million, or 1.65%, from 425.173 million the previous month and down 8.221 million, or 1.93%, from 426.368 million last year.
Of that, 376.986 million pounds were classed as “boneless” beef, down 10.270 million, or 2.65%, from 387.256 million a month earlier and down 49.382 million, or 11.6%, from 426.368 million a year earlier.
Another 41.161 million pounds were classed as “beef cuts,” up 3.244 million, or 8.56%, from 37.917 million a month ago and up 1.663 million, or 4.21%, from 39.498 million a year ago.
PORK STOCKS MIXED
Frozen pork supplies, at 455.803 million pounds, were up 46.339 million, or 11.3%, from 409.464 million the previous month but down 43.505 million, or 8.71%, from 499.308 million last year.
Stocks of pork bellies, at 59.582 million pounds, were up 5.044 million, or 9.25%, from 54.538 million last month but down 17.110 million, or 22.3%, from 76.692 million last year.
Another 87.877 million pounds were hams, up 25.646, or 41.2%, from 62.231 million a month earlier but down 7.075 million, or 7.45%, from 94.952 million a year earlier.
Also, 37.147 million pounds of frozen pork were loins, down 499,000, or 1.33%, from 37.646 million in March and down 1.890 million, or 4.84%, from 39.037 million a year ago.
CHICKEN STOCKS MIXED
Total stocks of chicken, at 755.327 million pounds, were down 17.446 million, or 2.26%, from 772.773 million the previous month but up 15.179 million, or 2.05%, from 740.148 million last year.
Whole frozen chickens totaled 10.236 million pounds, up 782,000, or 8.27%, from 9.454 million a month earlier but down 838,000, or 7.57%, from 11.074 million a year earlier.
Breast and breast meat stocks totaled 224.073 million pounds, down 13.729 million, or 5.77%, from 237.802 million a month earlier but up 15.642 million, or 7.50%, from 208.431 million a year earlier.
Leg quarters on ice totaled 56.010 million, down 4.193 million, or 6.96%, from 60.203 million in March but up 1.638 million, or 2.84%, from 57.648 million in April 2024.
Total pounds of frozen turkey, at 318.783 million pounds, were up 15.381 million, or 5.07%, from 303.402 million last month but down 71.699 million, or 18.4%, from 390.482 million on April 30, 2024.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers last week ranged from $219.93 per cwt to $230.32, compared with the previous week’s range of $220.35 to $227.53 per cwt. FOB dressed steers, and heifers went for $344.06 per cwt to $364.74, compared with $342.45 to $357.95.
The USDA choice cutout Friday was up $0.58 per cwt at $361.55 while select was up $2.37 at $351.32. The choice/select spread narrowed to $10.23 from $12.02 with 56 loads of fabricated product and 16 loads of trimmings and grinds sold into the spot market.
The USDA-listed the weighted average wholesale price for fresh 90% lean beef was $380.61 per cwt, and 50% beef was $126.50.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.15 to $1.25 a bushel over the Jul corn contract, which settled at $4.59 1/2, down $0.03 1/2.
The CME Feeder Cattle Index for the seven days ended Thursday was $295.46 per cwt, down $1.95. This compares with Friday’s May contract settlement of $300.37, up $0.60.