Frozen Meat in Storage up From Last Year, but Declines in May

Beef on display in a Publix grocery store in Atlanta.
( Wyatt Bechtel )

Meat and poultry inventories in freezers are above year earlier, without exception. The biggest increase, in percentage terms, was lamb, with 19% more in storage than on May 31 of last year. In absolute volume terms, the biggest year-over-year increase was in chicken, based on a gain of 93 million pounds, year-over-year. Beef registered the next largest increase of 54 million pounds, of which boneless product represents over 90% of the increase. Pork inventories were up 33 million pounds with belly stocks accounting for two-thirds of that rise. Frozen turkey stocks posted the smallest year-over-year increase (5 million pounds) since November 2015, an indication that the turkey industry is making progress in aligning production with consumer demand.

During May, chicken inventories expanded by 10 million pounds. During the month of May, that was the biggest increase since 2014. In 2014, frozen chicken inventories were 25% less than they are now, and were at the lowest levels for the spring quarter in close to 20 years.

Wholesale breast meat prices this May averaged 10 cents lower than April, the biggest May price decline for breast meat in over 10 years. The decline in breast meat prices may have helped to limit the increase in frozen breast meat to 5 million pounds during May as additional usage may have been encouraged. Breast meat prices have continued to drift down in June, as have prices for most other broiler products, as the industry tries to encourage more usage to reduce freezer inventories. That could distract some consumers from the red meat area of the grocery store this summer.

Frozen beef inventories in May declined by 5 million pounds, even though they were considerably above a year earlier. Frozen beef inventories usually decline during May, and this year’s slippage compares to a 46 million pound drawdown in May 2017, a 6 million pound decline in May 2016 and a 10 million pound drop in 2015. Frozen boneless beef quantities dropped 8 million pounds while beef cut inventories increased 3 million pounds.

U.S. frozen beef inventories tend to track roughly with beef import and export volumes. The most recent monthly data on beef imports shows monthly year-over-year declines of about 15 million pounds, so the trend in boneless beef holding is consistent with beef import trends. U.S. cow and bull slaughter is up about 10% this quarter, with beef from this source primarily marketed as 90% lean products, and this could be limiting the pace at which frozen beef inventories are declining. During the second quarter of this year, the price spread between domestic and imported lean beef trimmings has continued a trend of increasing premiums for domestic product. That should discourage imports in upcoming months and lead frozen beef inventories to remain in a month-to-month downtrend, and eventually result in year-over-year declines.


Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
1 + 0 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.
Submitted by Becky Ford on Fri, 07/06/2018 - 17:49


Do you have a low credit score and you are finding it hard to obtain loan from local banks/other financial institutes?

Do you need funding for your real estate deals, fix and flip, rehab, to start up a business, & contract.
Contact us at Ford Credit Centre LLC a private lending firm registered in Atlanta.

We offer:

Loans for trucks, trailers, tractors, boats, car purchase and personal reason.

Business startup and other types of loans are available.

We are dedicated in providing alternative funding options to those that don't fit into the conventional lending system.

We give you quality service and our interest rate is calculated at 3% per annul.

If you are interested send us a mail for the prerequisite to begin the funding process.

Becky Ford
WhatsApp:+1 404 400 4210

Submitted by SergioLattin on Wed, 07/11/2018 - 09:01

I extremely like the article since it makes them astound tips for Kindergarten class and it's truly stunning to give these sorts of tips to this class since kids embrace things rapidly and website help me a lot. So I extremely like the article and I'd get a kick out of the chance to thank this current article's writer for showing this gigantic article.

Submitted by Victoria on Thu, 07/12/2018 - 02:03

My name is Victoria , I never thought I will smile again, My husband left
me with two kids for one year, All effort to bring him back failed I
thought I’m not going to see him again not until I met a lady called
Jesse who told me about a spell caster called dr.alusistanley, She
gave me his email address and mobile number and I contacted him and he
assured me that within 3days my husband will come back to me, In
less than 3days my husband came back started begging for forgiveness
saying it is the devils work, so I’m still surprise till now about
this miracle,i couldn’t conceive but as soon as the spell was cast,i
became pregnant and gave birth to my third child(Michelle) if you need
any assistance from him you can contact him via:email