U.S. Livestock Cold Storage Update – Dec ’14
Pork – Stocks Decline YOY for Ninth Straight Month, Down 11.1% YOY According to USDA, Nov ’14 U.S. frozen pork stocks of 485.8 million pounds declined 7.3% MOM and 11.1% YOY. Pork stocks have trailed last year’s levels for nine consecutive months and 15 of the last 18 months. The YOY decline was the largest in six months on a percentage basis and the largest November decline in 24 years. Stocks reached a four year low for the month of November and remain 4.8% below the five year average November pork stocks. Beef – Stocks Decline YOY for 12th Straight Month, Down 12.0% YOY Nov ’14 U.S. frozen beef stocks of 396.6 million pounds increased 4.9% MOM but remain lower on a YOY basis, down 12.0%. Beef stocks have declined YOY for each of the past 12 months, although the 12.0% YOY deficit was the smallest in ten months. Total beef stocks reached a nine year low in Aug ’14 prior to the most recent MOM gains. The 18.7 million pound MOM gain was larger than the five year average October – November gain of 14.5 million pounds, however beef stocks remain at an 11 year low for the month of November. Chicken – Stocks Decline YOY for Ninth Straight Month, Down 5.6% YOY Nov ’14 U.S. frozen chicken stocks of 696.8 million pounds increased 5.8% MOM but declined 5.6% YOY. Chicken stocks have trailed last year’s levels for nine consecutive months, however the 5.6% YOY deficit was the smallest in the nine month period. Chicken stocks increased 38.4 million pounds MOM, far greater than the five year average October – November gain of 8.6 million pounds.