Beef stocks climb, pork inventories decline less than normal

USDA’s Cold Storage Report showed U.S. beef stocks rose contra-seasonally in November. Pork stocks declined, as is normal, but not nearly as much as the five-year average.

Beef stocks totaled 493.3 million lbs., up 19.8 million lbs. (4.2%) versus the end of October. The average over the past five years was a 300,000-lb. decline in beef stocks during November. Beef inventories fell 18.1 million lbs. (3.5%) from year-ago and were 10.8 million lbs. (2.1%) below the five-year average.

Pork stocks totaled 406.7 million lbs. at the end of November, down 35.1 million lbs. (-7.9%) from October. Pork inventories fell 13.1 million lbs. (3.1%) from November 2020 and were 98.0 million lbs. (19.4%) below the five-year average.

Total frozen poultry stocks fell to 886.0 million lbs. at the end of November, down 175.1 million lbs. (16.5%) from October and were 191.4 million lbs. (17.8%) below year-ago. Chicken breast meat stocks at 152.1 million lbs. dropped 9.4 million lbs. (5.8%) during November and were 102.8 million lbs. (40.3%) below last year’s record.