U.S. Livestock Cold Storage Update – Feb ’15
Pork – Stocks Decline YOY for 11th Consecutive Month, Finish Down 3.6%
According to USDA, Jan ’15 U.S. frozen pork stocks of 596.5 million pounds increased by 18.4% MOM but remained lower on a YOY basis, down 3.6%. Pork stocks have trailed last year’s levels for 11 consecutive months and 17 of the last 20 months. The MOM increase in pork stocks of 92.7 million pounds was 31.9 million pounds, or 52.4%, higher than the five year average December – January stock build. Despite the higher than average December – January stock build, pork stocks remained at a three year low for the month of January. Pork stocks did, however, finish 5.0% higher than the five year average January pork stocks.
Beef – Stocks Increase 14.4% YOY to New January Record
Jan ’15 U.S. frozen beef stocks of 490.9 million pounds increased 10.5% MOM and 14.4% YOY to a record high value for the month of January. Beef stocks increased YOY for the second month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The 14.4% YOY increase in stocks was the largest experienced in 33 months. The MOM increase in beef stocks of 46.6 million pounds was over four and a half times the average December – January build as stocks continue to increase off of the nine year low experienced in Aug ’14. Beef stocks finished 7.3% higher than the five year average January beef stocks.
Chicken – Stocks Continue to Climb, Finish up 5.9% YOY
Jan ’15 U.S. frozen chicken stocks of 730.1 million pounds increased 2.5% MOM and 5.9% YOY. Chicken stocks increased YOY for the second month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The MOM increase in chicken stocks of 17.6 million pounds was a counter-seasonal move as chicken stocks typically decline from December – January, falling by an average of 15.0 million pounds over the past five years. The Russian import ban continues to negatively affect U.S. broiler exports, as export volumes have declined 4.8% from Oct ’14 – Dec ’14. Chicken stocks finished 8.5% higher than the five year average January chicken stocks.
According to USDA, Jan ’15 U.S. frozen pork stocks of 596.5 million pounds increased by 18.4% MOM but remained lower on a YOY basis, down 3.6%. Pork stocks have trailed last year’s levels for 11 consecutive months and 17 of the last 20 months. The MOM increase in pork stocks of 92.7 million pounds was 31.9 million pounds, or 52.4%, higher than the five year average December – January stock build. Despite the higher than average December – January stock build, pork stocks remained at a three year low for the month of January. Pork stocks did, however, finish 5.0% higher than the five year average January pork stocks.
Beef – Stocks Increase 14.4% YOY to New January Record
Jan ’15 U.S. frozen beef stocks of 490.9 million pounds increased 10.5% MOM and 14.4% YOY to a record high value for the month of January. Beef stocks increased YOY for the second month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The 14.4% YOY increase in stocks was the largest experienced in 33 months. The MOM increase in beef stocks of 46.6 million pounds was over four and a half times the average December – January build as stocks continue to increase off of the nine year low experienced in Aug ’14. Beef stocks finished 7.3% higher than the five year average January beef stocks.
Chicken – Stocks Continue to Climb, Finish up 5.9% YOY
Jan ’15 U.S. frozen chicken stocks of 730.1 million pounds increased 2.5% MOM and 5.9% YOY. Chicken stocks increased YOY for the second month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The MOM increase in chicken stocks of 17.6 million pounds was a counter-seasonal move as chicken stocks typically decline from December – January, falling by an average of 15.0 million pounds over the past five years. The Russian import ban continues to negatively affect U.S. broiler exports, as export volumes have declined 4.8% from Oct ’14 – Dec ’14. Chicken stocks finished 8.5% higher than the five year average January chicken stocks.