U.S. Livestock Cold Storage Update – Nov ’14
Pork – Stocks Decline YOY for Eighth Straight Month, Down 7.1% YOY According to USDA, Oct ’14 U.S. frozen pork stocks of 524.8 million pounds declined 3.7% MOM and 7.1% YOY. Pork stocks have trailed last year’s levels for eight consecutive months and 14 of the last 17 months. Despite the recent declines, pork stocks remain 4.3% above the ten year average October pork stocks. Beef – Stocks Remain Significantly Lower, Down 14.8% YOY Oct ’14 U.S. frozen beef stocks of 374.9 million pounds increased 0.2% MOM but remain significantly lower than last year’s levels, down 14.8% YOY. Beef stocks have declined YOY for each of the past 11 months. Beef stocks reached a nine year low in Aug ’14 prior to the most recent MOM gains. Despite the MOM gains, beef stocks reached a 15 year low for the month of October. Chicken – Stocks Decline YOY for Eighth Straight Month, Down 8.6% YOY Oct ’14 U.S. frozen chicken stocks of 659.2 million pounds increased 5.4% MOM but declined 8.6% YOY. Chicken stocks have trailed last year’s levels for eight consecutive months, with stocks 9.1% below the ten year average October chicken stocks.