Frozen Red Meat Stocks Rise In July

Total red meat supplies in US freezers as of July 31 were 9.635 billion pounds, up 312 million pounds, or 3.35%, from 9.323 billion a month earlier and up 207 million, or 2.10%, from 9.842 billion on the same date last year, the USDA said in its latest monthly Cold Storage report.

Additionally, total frozen poultry supplies, at 1.411 billion pounds, were up 32 million, or 2.32%, from 1.379 million a month earlier but were down 66 million, or 4.47%, from 1.477 billion a year ago, the report said.




Total pounds of beef in the freezers, at 455.102 million pounds were up 49.457 million, or 12.2%, from 405.645 million on June 30 but down 29.146 million, or 6.02%, from 484.248 million on July 31, 2018.

The amount of boneless beef in cold storage totaled 419.605 million pounds, up 47.410 million, or 12.7%, from 372.194 million pounds a month earlier but down 24.484 million, or 5.51%, from 444.089 million a year earlier.

Beef cuts on ice at the end of July came to 35.497 million pounds, up 2.047 million, or 6.12%, from 33.450 million a month earlier but down 4.662 million, or 11.6%, from 40.248 million a year earlier.




Total pounds of pork in US freezers, at 601.790 million pounds, was down 17.664 million, or 2.85%, from 619.454 million a month earlier but up 49.761 million, or 9.01%, from 552.029 million a year earlier.

The volume of pork bellies in cold storage for this report was 52.646 million pounds, down 3.822 million, or 6.77%, from 56.468 million a month earlier but up 14.090 million, or 36.5%, from 38.556 million a year earlier.

The total volume of hams in cold storage on July 31 was 172.556 million pounds, up 3.957 million, or 2.35%, from 168.599 million a month earlier and up 4.993 million, or 2.98%, from 167.563 million a year earlier.

Pork loins in US freezers totaled 46.329 million pounds, down 318,000, or 0.68%, from 46.678 million a month earlier but up 19.715 million, or 74.1%, from 26.614 million a year earlier.

Of those, bone-in loin stocks totaled 20.762 million pounds, down 1.371 million, or 6.20%, from 22.133 million a month earlier but up 13.501 million, or 185.9%, from 7.261 million a year earlier.




Total chicken stocks in cold storage came to 850.463 million pounds, up 14.248 million, or 1.70%, from 836.215 million a month earlier but down 27.186 million, or 3.10%, from 877.649 million a year earlier.

Chicken breasts totaled 176.784 million pounds, compared with 178.494 million a month earlier and 170.472 million a year earlier.

Turkey stocks, at 557.018 million pounds, were up 18.304 million, or 3.40%, from 538.714 million a month earlier but down 37.909 million, or 6.37%, from 594.927 million a year earlier.




Cash cattle trade last week was noted at $105 to $108 per cwt on a live basis, steady to up $1 from last week, and at $175 on a dressed basis, up $3 to $5.

The USDA choice cutout Friday was down $1.76 per cwt at $237.52, while select was down $3.20 at $212.71.  The choice/select spread widened to $24.81 from $23.37 with 55 loads of fabricated product sold into the spot market.

No cattle were tendered for delivery against the Aug contract Friday.

The CME Feeder Cattle index for the seven days ended Thursday was $139.72 per cwt, up $1.83 from the previous day.  This compares with Friday’s Aug contract settlement of $137.35, down $1.05, and the Sep contract settlement of $133.25, down $3.17.