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.