USDA’s Cold Storage Report showed frozen beef stocks climbed more than average during September, largely because the previous month’s figure was revised down 15.1 million pounds. Pork stocks declined last month, whereas there is normally a small buildup in supplies.
Beef stocks at the end of September totaled 420.2 million lbs., up 24.8 million lbs. (6.3%) from August, which was greater than the five-year average increase of 11.1 million lbs. during the month. But beef inventories dropped 105.9 million lbs. (20.1%) from year-ago and were 60.7 million lbs. (12.6%) below the five-year average.
Frozen pork inventories totaled 462.8 million lbs., down 6.5 million lbs. (1.4%) from August, whereas the average over the past five years was a 3.0-million-lb. increase during September. Pork stocks fell 74.3 million lbs. (13.8%) from last year and were 69.4 million lbs. (13.0%) lower than the five-year average. Frozen ham inventories at 149.5 million lbs. dropped 4.8 million lbs. and were 10.0 million lbs. under September 2022. Belly stocks at 29.6 million lbs. declined 7.2 million lbs. during September and were 6.9 million lbs. under year-ago.
Total poultry stocks declined 12.5 million lbs. (1.0%) from August and were virtually unchanged versus September 2022. Chicken breast meat inventories increased 15.5 million lbs. last month to a September record 236.586 million lbs., up 28.7 million lbs. (13.8%) from last year.