31, which far exceeded the usual 8.3 million lbs. increase for the period. Stocks were also 7.3% above year-ago levels. This signals some slowing in beef demand.
Frozen pork stocks dropped 17.5 million lbs. (3.8%) from Sept. 30 to Oct. 31, which fell short of the five-year average drawdown of 24.3 million lbs. for the period. But this year is anything but typical and stocks are still a dramatic 163.8 million lbs. (26.8%) under year-ago levels. This year’s hog kill is running 0.8% ahead of last year, driving home just how impressive demand for U.S. pork has been.
Total frozen poultry stocks of 1.293 billion lbs. were down 7.3% from September and 4.3% from year-ago. Of note, whole turkeys in frozen storage was up 7.1% from year-ago, reflecting the impact of the pandemic on Thanksgiving holiday plans.