CME: Latest Survey of US Cold Storage Facilities.

US - CME's Daily Livestock Report for 23rd May 2008.
calendar icon 27 May 2008
clock icon 3 minute read

USDA released on Thursday, April 22 the results of its latest survey of US cold storage facilities. The report showed that total beef, pork and poultry supplies as of April 30 continued to surge higher and at 2.328 billion pounds, they were 21.7% higher than a year ago and a new all time record. Below are some of the details from this report:

Pork: Total pork supplies, at 652.2 million pounds, actually declined slightly from the previous month but current stocks are 23.4% higher than a year ago and 26.4% higher than the five year average. Inventories of hams in cold storage continued to build, as they seasonally do into the fall but the current rate of increase is well above last year’s record levels. At 110.3 million pounds, hams in cold storage rose 22.3% from the previous month and stocks are currently 38.5% larger than a year ago and 49.9% larger than the five year average. Pork belly stocks in cold storage were 100.4 million pounds, 62.4% larger than a year ago and 61.5% larger than the five year average. Inventories of pork loins were 46.8 million pounds, some 23% larger than a year ago.

E-Livestock Volume 5/23/08 5/22/08 5/16/08
LE (E-Live Cattle): 10,419 6,301 8,939
GF (E-Feeder Cattle): 175 351 352
HE (E-Lean Hogs): 10,114 6,502 12,638

Beef: Total beef supplies in cold storage as of April 30 were 429.3 million pounds, 2.9% larger than a year ago and 7.4% larger than the five year average. Cold storage supplies have increased despite sharply reduced supplies of imported beef. Boneless beef inventories, which were below year ago levels for much of the first quarter, increased 1.4% in April

Poultry: Total chicken inventories in cold storage at the end of April were 753.4 million pounds, slightly lower than the previous month but still as much as 24.3% larger than a year ago and 7.3% larger than the five year average. Total turkey inventories were 492.7 million pounds, a 36.8% increase from a year ago and 5% larger than the five year average.

The shift in the US import/export meat trade with the rest of the world has led to a shortage of refrigerated containers required to ship US meat products. A number of large exporters are pointing out that despite orders on the books, they are finding it difficult to find enough container capacity to move product out of storage and into ships. As a result, some product is backing up in freezers along both coasts as well as in the Midwest. The issue is becoming increasingly troubling, especially if it leads to lost business, causing current inventories to become available in the domestic market.

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