U.S. Livestock Cold Storage Update – Jul ’15
Pork – Stocks Increase to New June Record High
According to USDA, Jun ’15 U.S. frozen pork stocks of 632.2 million pounds declined 3.4% MOM but remained up 17.6% YOY, setting a new record high for the month of June. Pork stocks have increased YOY for five month in a row after 11 consecutive months of YOY declines were experienced from Mar ’14 – Jan ’15. The May – June seasonal decline in pork stocks of 22.6 million pounds, or 3.4%, was only approximately half of the ten year average May – June seasonal decline of 42.9 million pounds, or 7.7%. Jun ’15 pork stocks finished 11.9% higher than the three year average June pork stocks.
Beef – YOY Increase in Stocks Largest in Nine Years on Percentage Basis
Jun ’15 U.S. frozen beef stocks of 467.1 million pounds declined 1.9% MOM but remained up 30.4% YOY. The monthly YOY increase in beef stocks was the seventh in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The YOY increase in stocks was the largest experienced in nine years on a percentage basis while ending stocks for the month of June were the third largest figure on record, trailing only the 2012 and 2013 volumes. Jun ’15 beef stocks finished 7.1% higher than the three year average June beef stocks.
Chicken – Stocks Remain Significantly Higher on YOY Basis, Finish up 22.2%
Jun ’15 U.S. frozen chicken stocks of 722.5 million pounds declined 2.2% MOM but remained up 22.2% YOY. Chicken stocks increased YOY for the seventh month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. Stocks have built as the Russian import ban continues to negatively affect U.S. broiler exports. U.S. broiler export volumes have declined by 7.2% YOY since the ban was announced. Jun ’15 chicken stocks finished 13.0% higher than the three year average June chicken stocks.
Overall, combined Jun ’15 U.S. pork, beef and chicken stocks continued to decline from the record high experienced in Apr ’15, but remained above the 96th percentile of historical monthly figures. Individually, Jun ’15 U.S. pork and beef stocks finished near 90% of historical maximum storage levels, while U.S. chicken stocks were also relatively high, finishing at 78% of historical maximum storage levels.
On a seasonal basis, combined Jun ’15 pork, beef and chicken stocks set a new June record high. Individually, Jun ’15 U.S. pork stocks set a new record high for the month of June, beef stocks approached the 2013 June high and chicken stocks finished at approximately 85% of historical maximum storage levels for the month of June.
According to USDA, Jun ’15 U.S. frozen pork stocks of 632.2 million pounds declined 3.4% MOM but remained up 17.6% YOY, setting a new record high for the month of June. Pork stocks have increased YOY for five month in a row after 11 consecutive months of YOY declines were experienced from Mar ’14 – Jan ’15. The May – June seasonal decline in pork stocks of 22.6 million pounds, or 3.4%, was only approximately half of the ten year average May – June seasonal decline of 42.9 million pounds, or 7.7%. Jun ’15 pork stocks finished 11.9% higher than the three year average June pork stocks.
Beef – YOY Increase in Stocks Largest in Nine Years on Percentage Basis
Jun ’15 U.S. frozen beef stocks of 467.1 million pounds declined 1.9% MOM but remained up 30.4% YOY. The monthly YOY increase in beef stocks was the seventh in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The YOY increase in stocks was the largest experienced in nine years on a percentage basis while ending stocks for the month of June were the third largest figure on record, trailing only the 2012 and 2013 volumes. Jun ’15 beef stocks finished 7.1% higher than the three year average June beef stocks.
Chicken – Stocks Remain Significantly Higher on YOY Basis, Finish up 22.2%
Jun ’15 U.S. frozen chicken stocks of 722.5 million pounds declined 2.2% MOM but remained up 22.2% YOY. Chicken stocks increased YOY for the seventh month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. Stocks have built as the Russian import ban continues to negatively affect U.S. broiler exports. U.S. broiler export volumes have declined by 7.2% YOY since the ban was announced. Jun ’15 chicken stocks finished 13.0% higher than the three year average June chicken stocks.
Overall, combined Jun ’15 U.S. pork, beef and chicken stocks continued to decline from the record high experienced in Apr ’15, but remained above the 96th percentile of historical monthly figures. Individually, Jun ’15 U.S. pork and beef stocks finished near 90% of historical maximum storage levels, while U.S. chicken stocks were also relatively high, finishing at 78% of historical maximum storage levels.
On a seasonal basis, combined Jun ’15 pork, beef and chicken stocks set a new June record high. Individually, Jun ’15 U.S. pork stocks set a new record high for the month of June, beef stocks approached the 2013 June high and chicken stocks finished at approximately 85% of historical maximum storage levels for the month of June.