Total red meat supplies in freezers on Jan. 31 were up about 3% from the previous month but down about 2% from last year, according to the USDA’s monthly Cold Storage report.
Total frozen poultry supplies on Jan. 31 were up about 3% from the previous month but down about 3% from a year ago.
BEEF STOCKS MIXED
Total pounds of beef in freezers at the end of January were 434.895 million pounds, up 248,000 pounds, or 0.06%, from 434.602 million the previous month but down 20.242 million, or 4.45%, from 455.092 million last year.
Of that, 394.516 million pounds were classed as “boneless beef,” up 34,000 pounds, or 0.01%, from 394.482 million a month earlier but down 22.642 million, or 5.43%, from 417.158 million a year earlier.
Another 40.379 million pounds was classed as “beef cuts,” up 259,000 pounds, or 0.65%, from 40.120 million pounds in the previous month and up 2.445 million, or 6.45%, from 37.934 million the previous year.
PORK STOCKS RISE
Frozen pork supplies, at 410.404 million pounds, were up 23.422 million pounds, or 6.05%, from 386.982 million the previous month and up 3.153 million, or 0.77%, from 407.251 million last year.
Stocks of pork bellies, at 43.052 million pounds, were up 6.088 million pounds, or 16.5%, from 36.964 million last month and up 1.352 million, or 3.24%, from 41.700 million last year.
Frozen hams totaled 84.297 million pounds, up 22.561 million, or 36.5%, from 61.736 million a month earlier and up 4.904 million, or 6.18%, from 79.393 million a year earlier.
Loins in cold storage totaled 32.123 million pounds, down 373,000 pounds, or 1.15%, from 32.496 million in December and down 1.733 million, or 5.12%, from 33.856 million in January 2025.
CHICKEN STOCKS DECLINE
Total stocks of chicken, at 794.706 million pounds, were down 30.642 million, or 3.71%, from 825.348 million pounds the previous month and down 9.260 million, or 1.15%, from 803.966 million pounds last year.
Of that, 234.134 million pounds were breasts and breast meat, down 10.734 million, or 4.38%, from 244.868 million pounds a month earlier and down 14.587 million, or 5.86%, from 248.721 million pounds a year earlier.
Another 47.819 million pounds were leg quarters, down 3.441 million, or 6.71%, from 51.260 million a month earlier and down 18.289, or 27.7%, from 66.108 million a year earlier.
Total pounds of turkey in freezers, at 238.077 million pounds, were up 63.140 million, or 36.1%, from 174.937 million last month but down 21.919 million, or 8.43%, from 259.996 million on Jan. 31, 2025.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $247.79 per cwt to $250.65, compared with last week’s range of $242.46 to $255.40 per cwt. FOB dressed steers and heifers went for $387.65 per cwt to $391.91, compared with $381.78 to $394.78.
The USDA choice cutout Thursday was down $1.34 per cwt at $377.89 while select was up $3.72 at $370.79. The choice/select spread narrowed to $7.10 from $12.16 with 64 loads of fabricated product and 21 loads of trimmings and grinds sold into the spot market.
The USDA-listed the weighted average wholesale price for fresh 90% lean beef as $433.00 per cwt, and 50% beef was $160.27.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $0.98 to $1.12 a bushel over the Mar corn contract, which settled at $4.33 1/4, up $0.02 3/4.
No live cattle delivery intentions were posted Thursday.
The CME Feeder Cattle Index for the seven days ended Wednesday was $373.17 per cwt, down $1.62. This compares with Thursday’s Mar contract settlement of $361.65, down $4.65.