U.S. Livestock Cold Storage Update – Mar ’18
Executive Summary
U.S. cold storage figures provided by USDA were recently updated with values spanning through Feb ’18. Highlights from the updated report include:
According to USDA, Feb ’18 U.S. frozen pork stocks increased on a YOY basis for the third consecutive month, finishing up 8.3%. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the three most recent YOY increases. Feb ’18 pork stocks remained 2.0% below three year average figures for the month of February, however. The January – February increase in pork stocks of 34.2 million pounds, or 5.9%, was consistent with the ten year average seasonal build in stocks of 35.2 million pounds, or 6.1%.
Beef – Stocks Remain Lower on a YOY Basis for the 13th Consecutive Month, Finish Down 8.4%
Feb ’18 U.S. frozen beef stocks remained 8.4% lower YOY, finishing at a seven year seasonal low for the month of February. Beef stocks have finished lower on a YOY basis over 13 consecutive months through February. The MOM decline in beef stocks of 50.5 million pounds, or 9.9%, was significantly larger than the ten year average January – February seasonal decline of 7.7 million pounds, or 1.4%. Feb ’18 beef stocks finished 8.0% below three year average figures for the month of February.
Chicken – Stocks Remain Higher YOY, Finish up 15.2% to a 12 Year February Seasonal High.
Feb ’18 U.S. frozen chicken stocks increased 15.2% on a YOY basis, finishing at a 12 year seasonal high for the month of February. Chicken stocks have finished higher on a YOY basis over seven consecutive months through February. The Feb ’18 MOM build in chicken stocks of 27.9 million pounds, or 3.2%, was a contraseasonal move when compared to the ten year average January – February seasonal decline in stocks of 15.6 million pounds, or 2.2%. Feb ’18 chicken stocks finished 17.1% above three year average figures for the month of February, increasing vs. three year average figures for the 40th consecutive month.
Overall, Feb ’18 combined U.S. pork, beef and chicken stocks finished within 0.1% of the monthly record high experienced during Jan ’16. Individually, Feb ’18 pork stocks finished within 15% of historical maximum storage levels while beef stocks remained within 20% of historical maximum storage levels and chicken stocks finished within 5% of historical maximum storage levels.
Feb ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of February. Pork and beef stocks each finished within 10% of historical seasonal highs while chicken stocks finished within 5% of record high February storage levels.
- Feb ’18 U.S. pork stocks increased on a YOY basis for the third consecutive month, finishing up 8.3%, while chicken stocks increased 15.2% YOY to a 12 year seasonal high for the month of February, finishing higher for the seventh consecutive month.
- Feb ’18 U.S. beef stocks remained lower on a YOY basis of the 13th consecutive month, finishing 8.4% below previous year volumes and reaching a seven year seasonal low for the month of February.
- Overall, Feb ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of February and finished within 0.1% of the overall monthly record high experienced during Jan ’16.
According to USDA, Feb ’18 U.S. frozen pork stocks increased on a YOY basis for the third consecutive month, finishing up 8.3%. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the three most recent YOY increases. Feb ’18 pork stocks remained 2.0% below three year average figures for the month of February, however. The January – February increase in pork stocks of 34.2 million pounds, or 5.9%, was consistent with the ten year average seasonal build in stocks of 35.2 million pounds, or 6.1%.
Beef – Stocks Remain Lower on a YOY Basis for the 13th Consecutive Month, Finish Down 8.4%
Feb ’18 U.S. frozen beef stocks remained 8.4% lower YOY, finishing at a seven year seasonal low for the month of February. Beef stocks have finished lower on a YOY basis over 13 consecutive months through February. The MOM decline in beef stocks of 50.5 million pounds, or 9.9%, was significantly larger than the ten year average January – February seasonal decline of 7.7 million pounds, or 1.4%. Feb ’18 beef stocks finished 8.0% below three year average figures for the month of February.
Chicken – Stocks Remain Higher YOY, Finish up 15.2% to a 12 Year February Seasonal High.
Feb ’18 U.S. frozen chicken stocks increased 15.2% on a YOY basis, finishing at a 12 year seasonal high for the month of February. Chicken stocks have finished higher on a YOY basis over seven consecutive months through February. The Feb ’18 MOM build in chicken stocks of 27.9 million pounds, or 3.2%, was a contraseasonal move when compared to the ten year average January – February seasonal decline in stocks of 15.6 million pounds, or 2.2%. Feb ’18 chicken stocks finished 17.1% above three year average figures for the month of February, increasing vs. three year average figures for the 40th consecutive month.
Overall, Feb ’18 combined U.S. pork, beef and chicken stocks finished within 0.1% of the monthly record high experienced during Jan ’16. Individually, Feb ’18 pork stocks finished within 15% of historical maximum storage levels while beef stocks remained within 20% of historical maximum storage levels and chicken stocks finished within 5% of historical maximum storage levels.
Feb ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of February. Pork and beef stocks each finished within 10% of historical seasonal highs while chicken stocks finished within 5% of record high February storage levels.