U.S. Livestock Cold Storage Update – Mar ’15
Pork – Stocks Increase 4.8% YOY to New February Record Level
According to USDA, Feb ’15 U.S. frozen pork stocks of 686.1 million pounds finished up 15.1% MOM and 4.8% YOY. Month ending stocks set a new record high for the month of February and were the second largest monthly figure on record. The YOY monthly increase was the first experienced in the past 12 months and the largest in 22 months. The MOM increase in pork stocks of 89.8 million pounds was 57.9 million pounds, or 181.7%, higher than the five year average January – February stock build. The higher than average January – February stock build resulted in February pork stocks finishing 7.7% higher than the three year average February pork stocks.
Beef – Stocks Increase 0.3% YOY to New February Record Level
Feb ’15 U.S. frozen beef stocks of 492.1 million pounds finished flat with prior month levels but up 0.3% YOY to a record high value for the month of February. The monthly YOY increase in beef stocks was the third in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. Beef stocks finished 1.7% higher than the three year average February beef stocks.
Chicken – Stocks Continue to Climb, Finish up 7.5% YOY
Feb ’15 U.S. frozen chicken stocks of 732.0 million pounds increased 0.2% MOM and 7.5% YOY. Chicken stocks increased YOY for the third month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The January – February increase in chicken stocks of 1.3 million pounds was the first experienced in the past nine years, with stocks declining by an average of 17.7 million pounds from January – February over the past five years. The Russian import ban continues to negatively affect U.S. broiler exports, as export volumes have declined 6.7% from Oct ’14 – Jan ’15. Chicken stocks finished 13.6% higher than the three year average February chicken stocks.
Overall, combined Feb ’15 U.S. pork, beef and chicken stocks were 0.2% less than the historical maximum storage level experienced in Jan ’06. Individually, Feb ’15 U.S. pork and beef stocks were near historical maximum storage levels, while U.S. chicken stocks were also relatively high, at nearly 80% of historical maximum storage levels.
According to USDA, Feb ’15 U.S. frozen pork stocks of 686.1 million pounds finished up 15.1% MOM and 4.8% YOY. Month ending stocks set a new record high for the month of February and were the second largest monthly figure on record. The YOY monthly increase was the first experienced in the past 12 months and the largest in 22 months. The MOM increase in pork stocks of 89.8 million pounds was 57.9 million pounds, or 181.7%, higher than the five year average January – February stock build. The higher than average January – February stock build resulted in February pork stocks finishing 7.7% higher than the three year average February pork stocks.
Beef – Stocks Increase 0.3% YOY to New February Record Level
Feb ’15 U.S. frozen beef stocks of 492.1 million pounds finished flat with prior month levels but up 0.3% YOY to a record high value for the month of February. The monthly YOY increase in beef stocks was the third in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. Beef stocks finished 1.7% higher than the three year average February beef stocks.
Chicken – Stocks Continue to Climb, Finish up 7.5% YOY
Feb ’15 U.S. frozen chicken stocks of 732.0 million pounds increased 0.2% MOM and 7.5% YOY. Chicken stocks increased YOY for the third month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The January – February increase in chicken stocks of 1.3 million pounds was the first experienced in the past nine years, with stocks declining by an average of 17.7 million pounds from January – February over the past five years. The Russian import ban continues to negatively affect U.S. broiler exports, as export volumes have declined 6.7% from Oct ’14 – Jan ’15. Chicken stocks finished 13.6% higher than the three year average February chicken stocks.
Overall, combined Feb ’15 U.S. pork, beef and chicken stocks were 0.2% less than the historical maximum storage level experienced in Jan ’06. Individually, Feb ’15 U.S. pork and beef stocks were near historical maximum storage levels, while U.S. chicken stocks were also relatively high, at nearly 80% of historical maximum storage levels.