USDA in its monthly Cold Storage Report said there were 510.90 million lbs. of beef in the nation’s freezer’s as of Feb. 28, an 8.46 million-lb. (1.6%) retreat from the month prior vs. five-year-average decline of 27.2 million lbs. for the timespan. This was a record-high for February, according to records dating back to 1915. Frozen beef stocks were up 3.3% from year-ago.
Frozen pork stocks jumped 33.97 million lbs. (7.4%) during February to 491.48 million lbs., which was just a bit more of a rise than the five-year average for a 30.6 million-lb. build in supplies from Jan. 31 to Feb. 28. But note that frozen pork stocks remain a dramatic 24.3% under year-ago levels.
Today’s update shows there were 1.09 billion lbs. of frozen poultry in the nation’s freezers as of Feb. 28, a 2.6% slide from January and a 13.8% drop from year-ago.