The USDA’s National Agricultural Statistics Service said Monday in its monthly Cold Storage report that total red meat supplies in freezers on Dec. 31 were up about 1% from its December report but were down about 11% from last year.
Total pounds of beef in cold storage were up about 4% from Nov. 30 and up about 11% from last year. Frozen pork stocks were down roughly 3% from a month earlier and down 30% from last year.
Frozen poultry supplies were up about 1% from the previous month but down 10% from a year ago. Chicken stocks were down 2% from the December report and down 12% from last year. Turkey stocks were up 16% from a month earlier but down 4% from a year earlier.
BEEF STOCKS RISE
The total volume of beef in cold storage on Dec. 31 was 534.297 million pounds, up 22.839 million, or 4.47%, from 511.458 million on Nov. 30 and up 54.179 million, or 11.3%, from 480.118 million on Dec. 31, 2019.
Total frozen supplies of boneless beef were 497.673 million pounds, up 23.756 million, or 5.01%, from 473.917 million a month earlier and up 47.683 million, or 10.6%, from 449.990 million a year ago.
Stocks of beef cuts in cold storage amounted to 497.673 million pounds, up from 473.917 million a month earlier and up from 449.990 million a year earlier.
PORK STOCKS VARIABLE
While total pork stocks were down from a month earlier and a year earlier, stores of individual cuts are variable.
Total pork stocks came to 408.361 million pounds, down 11.392 million, or 2.71%, from 419.753 million a month earlier and down 172.103 million, or 29.6%, from 580.464 million a year earlier.
The amount of pork bellies in cold storage came to 30.715 million pounds, up 7.423 million, or 31.9%, from 23.292 million in the December report but down 35.932 million, or 53.9%, from 66.647 million in last year’s report.
Frozen ham stocks amounted to 53.649 million pounds, down 21.213 million, or 28.3%, from 74.862 million a month earlier and down 32.346 million, or 37.6%, from 85.995 million a year earlier.
Loins on ice totaled 37.919 million pounds, up 767,000, or 2.06%, from 37.152 million a month ago but down 11.204 million, or 22.9%, from 49.123 million a year ago.
CHICKEN STORES DECLINE
Total frozen chicken stocks were 863.077 million pounds, down 19.269 million, or 2.18%, from 882.346 million a month earlier and down 114.545 million, or 11.7%, from 977.622 million a year earlier.
Breasts and breast meat on ice totaled 259.851 million pounds, up from 254.853 million in the previous report and up from 221.607 million a year ago.
CATTLE, BEEF RECAP
Fed cattle trading was reported in the Plains last week at $109 to $111 per cwt on a live basis, steady to up $1 from the previous week. Dressed-basis trading last week was seen at $172 to $174 per cwt, down $2 to $3.
The USDA choice cutout Monday was up $3.91 per cwt at $226.73, while select was up $2.87 at $216.21. The choice/select spread widened to $10.52 from $9.48 with 72 loads of fabricated product and 20 loads of trimmings and grinds sold into the spot market.
The USDA reported Monday that basis bids for corn from livestock feeding operations in the Southern Plains were unchanged at $1.21 to $1.27 a bushel over the Mar CBOT futures contract, which settled at $5.11 1/2 a bushel, up $0.11.
The CME Feeder Cattle Index for the seven days ended Friday was $134.48 per cwt, up $0.49. This compares with Monday’s Jan contract settlement of $136.55 per cwt, down $0.70 and Mar’s $143.85, down $0.30.