Total red meat supplies in freezers on Dec. 31 were up about 3% from Nov. 30 but were down about 5% from last year, the USDA’s National Agricultural Statistics Service said in its monthly Cold Storage report Friday.
Total frozen poultry supplies were up about 1% from the previous month but down about 8% from a year ago, the USDA said.
BEEF STOCKS MIXED
Total pounds of beef in freezers, at 457.274 million pounds, were up 16.603 million, or 3.77%, from 440.671 million the previous month but down 23.027 million, or 4.79%, from 480.301 million last year.
Of that, 416.395 million pounds were classed as “boneless” beef, up 18.123 million, or 4.55%, from 398.272 million a month earlier but down 20.365 million, or 4.66%, from 436.760 million a year earlier.
Another 40.879 million pounds of “beef cuts” was in cold storage, down 1.520 million, or 3.58%, from 42.399 million a month earlier and down 2.662 million, or 6.11%, from 43.541 million a year earlier.
PORK STOCKS ALSO MIXED
Frozen pork supplies, at 400.398 million pounds, were up 9.263 million, or 2.37%, from 391.135 million pounds the previous month but down 26.998 million, or 6.32%, from 427.396 million last year.
Of that, stocks of pork bellies were 34.265 million pounds, up 11.768 million, or 52.3%, from 22,497 million last month but down 21.753 million, or 38.8%, from 56.018 million last year.
Another 68.584 million pounds was hams, down 680,000, or 0.98%, from 69.264 million a month earlier but up 13.580 million, or 24.7%, from 55.004 million a year earlier.
Frozen loins totaled 35.175 million pounds, down 3.768 million, or 9.68%, from 38.943 million in November and down 7.227 million, or 17.0%, from 42.402 million in December 2023.
Another 82.828 million pounds of pork was ribs, up 4.825 million, or 6.19%, from 78.003 million a month earlier and up 320,000, or 0.39%, from 82.508 million a year earlier.
Pork butts on ice numbered 22.117 million pounds, down 1.434 million, or 6.09%, from 23.551 million a month earlier but up 4.281 million, or 24.0%, from 17.836 million a year earlier.
CHICKEN STOCKS DOWN
Total stocks of chicken, at 801.475 million pounds, were down 7.564 million, or 0.93%, from 809.039 million the previous month and down 68.558 million, or 7.88%, from 870.033 million last year.
There were 243.106 million pounds of frozen chicken breasts and breast meat reported, up 7.573 million, or 3.22%, from 235.533 million a month earlier but down 5.519 million, or 2.22%, from 248.625 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 $203.98 per cwt to $204.73, compared with last week’s range of $201.58 to $204.93 per cwt. FOB dressed steers, and heifers went for $319.68 per cwt to $324.85, compared with $314.56 to $321.61.
The USDA choice cutout Monday was up $2.16 per cwt at $330.08 while select was up $4.26 at $320.55. The choice/select spread narrowed to $9.53 from $11.63 with 123 loads of fabricated product and 14 loads of trimmings and grinds sold into the spot market.
The USDA-listed weighted average wholesale price for fresh 90% lean beef was $360.97 per cwt, and 50% beef was $116.38.
The USDA said basis bids for corn from feeders in the Southern Plains were up $0.01 to down $0.04 at $1.21 to $1.31 a bushel over the Mar corn contract, which settled at $4.82, down $0.04 1/2.
The CME Feeder Cattle Index for the seven days ended Friday was $277.93 per cwt, down $0.35. This compares with Monday’s Jan contract settlement of $279.72, up $1.02, and Mar’s $275.25, down $1.35.