U.S. Livestock Cold Storage Update – Oct ’14
Pork – Stocks Increase Slightly MOM, Remain Lower YOY According to USDA, Sep ’14 U.S. frozen pork stocks of 545.0 million pounds increased slightly MOM but remain lower on a YOY basis, down 4.0%. Pork stocks have trailed last year’s levels for seven consecutive months and 13 of the last 16 months. Despite the recent declines, pork stocks remain 3.1% above the five year average September pork stocks. Beef – Stocks Increase Sharply MOM, Remain Significantly Lower YOY Sep ’14 U.S. frozen beef stocks of 373.3 million pounds increased 7.7% MOM but remain significantly lower than last year’s levels, down 16.1% YOY. Beef stocks reached a nine year low prior to the MOM increase experienced in Sep ’14. Beef stocks increased 26.8 million pounds MOM which was the largest monthly increase in two and a half years. Despite the significant MOM increase, beef stocks reached a 15 year low for the month of September. Chicken – Stocks Continue to Decline on YOY Basis, Down 2.3% MOM Sep ’14 U.S. frozen chicken stocks of 614.3 million pounds declined 2.3% MOM and 9.3% YOY. Chicken stocks have trailed last year’s levels for seven consecutive months, with stocks reaching an 11 year low for the month of September.