Cold Storage Report signals sizzling beef demand

There were 398.66 million lbs. of beef in cold storage around the U.S. as of June 30, which was an 18.02-million-lb. (4.3%) retreat for the month versus the usual 400,000-lb. increase for the period, USDA’s monthly Cold Storage Report showed. Frozen beef stocks were also 30.64 million lbs. (7.1%) lighter than year-ago. The data signals strong domestic and export demand as the world emerges from a year-long pandemic.

Pork stocks dropped 20.30 million lbs. (4.4%) from May 31 to the end of June, which was a bit lighter drawdown than the usual 27.60-million-lb. slide in stocks for the timeframe. But overall stocks are also 3.9% tighter than year’s 460.17 million pounds.

June 30 poultry stocks of 1.15 billion lbs. were up 2.1% for the month but down 15.0% from last year. Chicken breast meat stocks ended June at 195.13 million lbs., which was 4.5% under May 31 levels and 9.2% lighter than last year’s record.