Total red meat supplies in US freezers on Jan. 31 were up about 3% from the previous month but down about 6% from last year, said the monthly Cold Storage report from the USDA’s National Agricultural Statistics Service Wednesday.
Total frozen poultry supplies on Jan. 31 were up about 5% from the previous month but down about 6% from a year ago, the report said.
BEEF STOCKS MIXED
Total pounds of beef in freezers, at 463.280 million pounds, were up 9.907 million, or 2.19%, from 453.373 million the previous month but down 1.306 million, or 0.28%, from 464.586 million last year.
Of that, 424.374 million pounds were classed as “boneless” beef. This was up 11.875 million, or 2.88%, from 412.499 million last month and up 771,000, or 0.18%, from 423.603 million last year.
Another 38.906 million pounds was classed as “beef cuts.” This was down 1.968 million, or 4.84%, from 40.874 million a month earlier and down 2.077 million, or 5.07%, from 40.983 million a year earlier.
PORK STOCKS MIXED
Frozen pork supplies, at 410.227 million pounds, were up 13.718 million, or 3.46%, from 396.509 million the previous month but down 53.078 million, or 11.5%, from 463.305 million last year.
Stocks of pork bellies, at 42.276 million pounds, were up 8.156 million, or 23.9%, from 34.120 million last month but down 20.149 million, or 32.3%, from 62.425 million last year.
Frozen hams totaled 79.962 million pounds, up 11.639 million, or 17.0%, from 68.323 million a month earlier and up 5.087 million, or from 74.875 million a year earlier.
Pork loins on ice totaled 33.984 million pounds, down 843,000, or 2.42%, from 34.827 million a month earlier and down 8.586 million, or 20.2%, from 42.570 million a year earlier.
CHICKEN STOCKS MIXED
Total stocks of chicken, at 803.455 million pounds, were up 3.461 million, or 0.43%, from 799.994 million the previous month but down 25.727 million, or 3.10%, from 829.182 million last year.
Frozen breasts and breast meet totaled 247.051 million pounds, up 6.116 million, or 2.54%, from 240.935 million a month earlier and up 11.717 million, or 4.98%, from 235.334 million a year earlier.
Leg quarters in US freezers totaled 66.898 million pounds, up 3.189 million, or 5.01%, from 63.709 million in the January report and up 9.210 million, or 16.0%, from 57.688 million a year ago.
Total pounds of turkey in freezers, at 264.049 million pounds, were up 45.183 million, or 20.6%, from 218.866 million last month but down 31.742 million, or 12.5%, from 301.791 million Jan. 31, 2024.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $199.80 per cwt to $207.87, compared with last week’s range of $202.97 to $210.18 per cwt. FOB dressed steers, and heifers went for $315.50 per cwt to $319.42, compared with $318.80 to $327.62.
The USDA choice cutout Wednesday was down $1.42 per cwt at $312.90 while select was off $0.89 at $303.24. The choice/select spread narrowed to $9.66 from $10.19 with 130 loads of fabricated product and 28 loads of trimmings and grinds sold into the spot market.
The USDA-listed the weighted average wholesale price for fresh 90% lean beef was $377.08 per cwt, and 50% beef was $114.91.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.27 to $1.38 a bushel over the Mar corn contract, which settled at $4.78 1/4, down $0.01 1/2.
The CME Feeder Cattle Index for the seven days ended Tuesday was $278.73 per cwt, down $0.71. This compares with Wednesday’s Mar contract settlement of $274.37, up $0.15.