Cold Storage Report: Beef stocks build in December, pork stocks decline

( )

As of Dec. 31, USDA reported frozen beef stocks at 503.8 million lbs., up 13.4 million lbs. from November, whereas the previous five-year average was an 8.8-million-lb. increase during the month. However, beef stocks dropped 32.1 million lbs. from December 2020 and were 9.4 million lbs. below the five-year average.

Pork stocks at 398.9 million lbs. dropped 3.2 million lbs. from November versus the five-year average of a 12.8-million-lb. decline during December. Pork stocks fell 17.0 million lbs. from December 2020 and were 93.0 million lbs. below the five-year average.

Total poultry stocks increased 27.8 million lbs. from November to 915.2 million lbs., though that was down 174.1 million lbs. from last year. Chicken breast meat inventories dropped 104.5 million lbs. (40.6%) from last year’s record to 152.6 million pounds.

 

Latest News

H&P Report negative compared to pre-report expectations
H&P Report negative compared to pre-report expectations

Nearly every category topped the average pre-report estimates.

After the Bell | March 28, 2024
After the Bell | March 28, 2024

After the Bell | March 28, 2024

Pro Farmer's Daily Advice Monitor
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.

PF Report Reaction: Bullish USDA data for corn
PF Report Reaction: Bullish USDA data for corn

Corn planting intentions and March 1 stocks came in lower than expected.

Report Snapshot: USDA shows lighter-than-expected corn acres and stocks
Report Snapshot: USDA shows lighter-than-expected corn acres and stocks

USDA reported corn acres of 90.036 million acres for 2024 and March 1 stocks of 8.347 billion bu., both well below trade estimates. Soybean acres were slightly lower than expectations, while stocks were higher.