Record March beef stocks
USDA’s Cold Storage Report showed increases in both beef and pork stocks at the end of March, whereas both typically decline during the month.
Beef stocks totaled a March record 536.9 million lbs., up 5.4 million lbs. (1.0%) from February and 53.9 million lbs. (11.2%) above last year. Over the previous five years, beef stocks declined an average of 15.5 million lbs. during the month. Beef inventories were 63.8 million lbs. (13.5%) above the five-year average for March.
Pork stocks at 487.2 million lbs. increased 7.3 million lbs. (1.5%) during March and were 36.1 million lbs. (8.0%) above year-ago. Over the previous five years, pork stocks declined an average of 18.6 million lbs. during March. Pork inventories were still 79.4 million lbs. (14.0%) under the five-year average.
Total poultry stocks increased 10.0 million lbs. (0.9%) during March to 1.087 billion pounds. Poultry meat inventories declined 5.8 million lbs. (0.5%) from last year.
