Total red meat supplies in freezers Aug. 31 were down about 1% from the previous month and down about 2% from last year, according to the monthly Cold Storage report from the USDA’s Nation Agricultural Statistics Service Thursday.
Total pounds of beef in freezers were down about 2% from the previous month and down slightly from last year, the report said.
Frozen pork supplies were up slightly from the previous month but down about 3% from last year, the report said. Stocks of pork bellies were down about 39% from last month and down about 30% from last year.
Total frozen poultry supplies on Aug. 31 were up slightly from the previous month but down about 5% from a year ago, the report said. Total chicken stocks were up slightly from the previous month but down about 9% from last year.
Total pounds of turkey in freezers were down slightly from last month but up about 2% from Aug. 31, 2023.
BEEF STOCKS DECLINE
The Cold Storage report said total frozen beef stocks amounted to 395.186 million pounds, down 7.401 million, or 1.84%, from 402.587 million a month earlier and down 216,000, or 0.05%, from 395.402 million a year earlier.
“Boneless” beef stores in freezers came to 354.514 million pounds, down 6.546 million, or 1.81%, from 361.060 million a month earlier and down 2.486 million, or 0.70%, from 357.000 million a year earlier.
“Beef Cuts” in cold storage totaled 40.672 million pounds, down 835,000, or 2.01%, from 41.507 million a month earlier but up 2.270 million, or 5.91%, from 38.402 million a year earlier.
PORK STOCKS MIXED
Pork in cold storage totaled 453.641 million pounds, up 175,000, or 0.38%, from 453.466 million in July but down 15.602 million, or 3.32%, from 469.243 million a year ago.
Frozen pork bellies, totaled 25.632 million pounds, down 16.633 million, or 39.4%, from 42.265 million a month earlier and down 11.172 million, or 30.4%, from 36.804 million a year earlier.
Hams in cold storage amounted to 150.179 million pounds, up 10.715 million, or 7.68%, from 139.464 million in July but down 4.107 million, or 2.66%, from 154.286 million in August 2023.
Frozen pork loins totaled 34.268 million pounds on Aug. 31, up 340,000, or 1.00%, from 33.928 million a month earlier and up 393,000, or 1.16%, from 33.875 million a year earlier.
CHICKEN STOCKS MIXED
Chicken in cold storage totaled 754.942 million pounds, up 3.063 million, or 0.41%, from 751.879 million a month earlier but down 74.397 million, or 8.97%, from 829.339 million a year earlier.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $182.95 per cwt to $185.78, compared with last week’s range of $181.00 to $183.70 per cwt. FOB dressed steers, and heifers went for $285.83 per cwt to $291.74, compared with $284.25 to $290.12.
The USDA choice cutout Thursday was down $1.80 per cwt at $296.37 while select was down $0.91 at $282.37. The choice/select spread narrowed to $14.00 from $14.89 with 98 loads of fabricated product and 59 loads of trimmings and grinds sold into the spot market.
The USDA-listed weighted average wholesale price for fresh 90% lean beef was $353.53 per cwt, and 50% beef was $76.06.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.33 to $1.45 a bushel over the Dec corn contract, which settled at $4.13 1/4 a bushel, down $0.02.
The CME Feeder Cattle Index for the seven days ended Wednesday was $244.20 per cwt, down $0.10. This compares with Thursday’s Sep contract settlement of $245.40, up $0.02, and Oct’s $246.92, up $0.90.