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.