Cold Storage Report: Beef and pork stocks slightly bigger than anticipated... Beef and pork stocks at the end of April both topped expectations, though not by enough to cause major concerns with meat demand. Still, the number may put a little pressure on the markets tomorrow.
Beef stocks at the end of last month totaled 458.5 million lbs, which was 14.1 million lbs. more than anticipated. Beef stocks dropped 5.5 million lbs. (1.2%) from March and 9.3 million lbs. (2.0%) from April 2016. Beef stocks remain 15.0 million lbs. below the five-year average.
Pork stocks at 599.1 million lbs. were 12.7 million lbs. greater than expected. Pork stocks increased 49.7 million lbs. (9.0%) from March, but were 38.2 million lbs. (6.0%) less than last year. Pork stocks remain 57.5 million lbs. below the five-year average, despite hefty slaughter.
Total poultry stocks at 1.279 billion lbs. rose 79.6 million lbs. (6.6%) for the month and 64.9 million lbs. (5.3%) from last year.
