February 28, 2024

US red meat and poultry cold storage stocks dip below previous year's levels

US red meat and poultry stocks in cold storage at the end of January were reported to be below levels seen a year ago, attributed to reduced production rates coupled with steady consumer demand, Brownfield Ag News reported.

According to data from the US Department of Agriculture (USDA), red meat stocks totalled 964.835 million pounds, marking an 11% decrease compared to the previous year. Within this category, beef stocks dropped by 11% to 475.362 million pounds, while pork stocks declined by 10% to 468.037 million pounds.

Poultry stocks also experienced a decrease, totalling 1.136 billion pounds, which is 4% lower than the previous year. While chicken stocks saw a 7% decrease to 831.606 million pounds, this was partially offset by a 4% increase in turkey stocks to 302.144 million pounds.

The USDA is set to release its next annual meat supply and demand estimates on March 8, 2024.

-      Brownfield Ag News