Record May frozen beef stocks

( )

USDA’s Cold Storage Report showed beef stocks declined less than normal in May and totaled a record for the month, while frozen pork inventories climbed contra-seasonally.  

Beef stocks in storage as of May 31 totaled 519.8 million lbs., down 12.3 million lbs. (2.3%) from April but shy of the five-year average decline of 34.5 million lbs. during the month. Beef stocks rose 103.2 million lbs. (24.8%) from year-ago and were 96.8 million lbs. (22.9%) above the five-year average.

Pork stocks totaled 543.1 million lbs., up 9.7 million lbs. (1.8%) from April. Over the past five years, pork stocks declined an average of 28.7 million lbs. during May. Pork inventories rose 80.6 million lbs. (17.4%) from May 2021 but were still 11.2 million lbs. (2.0%) below the five-year average.

Total poultry stocks stood increased to 1.129 billion lbs., up 26.8 million lbs. (2.4%) from April and 5.8 million lbs. (0.5%) above year-ago.


Latest News

Schumer Sends Some Reconciliation Text to Parliamentarian; Talks Continue on Package

Waiting for Godot? U.S. to press India on subsidies for rice and wheat

Ahead of the Open | July 6, 2022

Grain, soybean futures expected higher on corrective buying, weaker USDA crop ratings.

Shanghai Reports Fresh COVID Cases | July 6, 2022

N.Y. Fed views greenback status as 'unchallenged,' Ukraine expects grain harvest to be 'not bad,' and traders anticipate near-term strength in the cash hog market...

First Thing Today | July 6, 2022

Corn futures traded lower for much of the overnight session but are mildly firmer this morning, while soybeans and wheat are showing stronger corrective gains following Tuesday’s sharp losses.

Corn, soybean CCI ratings drop, spring wheat improves

The soybean CCI rating dropped below the five-year average for the first time this growing season.

Pro Farmer's Daily Advice Monitor

Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.