US frozen pork supplies down 21%

Frozen pork supplies as of April 30 were down 6% from the previous month and down 21% from last year, according to the USDA's National Agricultural Statistics Service.

Stocks of pork bellies were down 15% from last month and down 37% from last year; while pork inventories as of April 30 were reported to be 482.5 million pounds. Analysts said the decline in pork was "bigger than expected" and may support hog futures next week.

Supplies seasonally decline in the summer but end users are entering in the high demand summer months with much tighter inventories than usual, analysts said.  Ham inventories were 74.1 million pounds, 4.1% lower than a year ago and 11.9% lower than the five year average. Pork belly stocks remain quite low for this time of year.

Belly stocks are especially tight and this should be supportive of the market even with the recent declines in overall hog carcass values, analysts said. Pork rib cold storage stocks were 82.3 million pounds, 5.8% lower than a year ago and 3% lower than the five year average.

Total red meat supplies in freezers as of April 30 were down 5% from the previous month and down 16% from last year.