Cold Storage Report: Beef stocks build in December, pork stocks decline

As of Dec. 31, USDA reported frozen beef stocks at 503.8 million lbs., up 13.4 million lbs. from November, whereas the previous five-year average was an 8.8-million-lb. increase during the month. However, beef stocks dropped 32.1 million lbs. from December 2020 and were 9.4 million lbs. below the five-year average.

Pork stocks at 398.9 million lbs. dropped 3.2 million lbs. from November versus the five-year average of a 12.8-million-lb. decline during December. Pork stocks fell 17.0 million lbs. from December 2020 and were 93.0 million lbs. below the five-year average.

Total poultry stocks increased 27.8 million lbs. from November to 915.2 million lbs., though that was down 174.1 million lbs. from last year. Chicken breast meat inventories dropped 104.5 million lbs. (40.6%) from last year’s record to 152.6 million pounds.