U.S. Livestock Cold Storage Update – May ’16
Executive Summary
U.S. cold storage figures provided by USDA were recently updated with values spanning through Apr ’16. Highlights from the updated report include:
• U.S. pork and beef stocks each declined YOY for the third consecutive month during Apr ’16 but remained within 15% of historical maximum storage levels for the month of April.
• U.S. chicken stocks remained higher on a YOY basis for the 17th consecutive month during Apr ’16, finishing up 5.3% to a ten year high for the month of April.
• Apr ’16 combined U.S. pork, beef and chicken remained 3.8% below the monthly record high experienced in Oct ’15 and 2.9% below the record high seasonal level experienced during the previous year.
Additional Report Details
Pork – Stocks Decline on a YOY Basis for the Third Consecutive Month, Finish Down 9.4%
According to USDA, Apr ’16 U.S. frozen pork stocks of 635.4 million pounds increased 3.5% MOM but declined 9.4% YOY from the record high April stocks level experienced during the previous year. Pork stocks had increased YOY for 12 consecutive months prior to the three most recent YOY declines experienced from Feb ’16 – Apr ’16. The MOM increase of 21.6 million pounds, or 3.5%, was slightly larger than the ten year average March – April seasonal increase in stocks of 15.8 million pounds, or 2.6%. Apr ’16 pork stocks finished 4.0% below three year average figures for the month of April.
Beef – Stocks Decline to New 16 Month Low, Finish Down 6.6% YOY
Apr ’16 U.S. frozen beef stocks of 452.3 million pounds declined 3.2% MOM and 6.6% YOY, finishing at a new 16 month low. Beef stocks had increased YOY for 14 consecutive months prior to the three most recent YOY declines experienced from Feb ’16 – Apr ’16. The MOM decline in beef stocks of 14.9 million pounds, or 3.2%, was larger than the ten year average March – April decline in beef stocks of 3.5 million pounds, or 0.9%. Apr ’16 beef stocks finished 2.8% below three year average figures for the month of April.
Chicken – Stocks Finish at a Ten Year High for the Month of April, up 5.3% YOY
Apr ’16 U.S. frozen chicken stocks of 806.1 million pounds increased 1.7% MOM and 5.3% YOY, finishing at a ten year high for the month of April. Chicken stocks increased YOY for the 17th 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 13.2 million pounds, or 1.7%, was slightly smaller than the ten year average March – April seasonal increase in stocks of 13.7 million pounds, or 2.3%. Stocks have built as the Russian import ban continues to negatively affect U.S. broiler exports. U.S. broiler export volumes have declined by 10.0% YOY since the ban was announced. Apr ’16 chicken stocks finished 18.7% higher than three year average figures for the month of April.
Overall, combined Apr ’16 U.S. pork, beef and chicken stocks remained 3.8% below the monthly record high experienced in Oct ’15. Individually, Apr ’16 U.S. pork, beef and chicken stocks each finished within 15% of historical maximum storage levels.
Apr ’16 combined U.S. pork, beef and chicken stocks finished 2.9% below the record high storage level for the month of April experienced during the previous year. Pork and chicken stocks each finished within 10% of historical maximum storage levels for the month of April while beef stocks finished within 15% of historical April storage levels.
According to USDA, Apr ’16 U.S. frozen pork stocks of 635.4 million pounds increased 3.5% MOM but declined 9.4% YOY from the record high April stocks level experienced during the previous year. Pork stocks had increased YOY for 12 consecutive months prior to the three most recent YOY declines experienced from Feb ’16 – Apr ’16. The MOM increase of 21.6 million pounds, or 3.5%, was slightly larger than the ten year average March – April seasonal increase in stocks of 15.8 million pounds, or 2.6%. Apr ’16 pork stocks finished 4.0% below three year average figures for the month of April.
Beef – Stocks Decline to New 16 Month Low, Finish Down 6.6% YOY
Apr ’16 U.S. frozen beef stocks of 452.3 million pounds declined 3.2% MOM and 6.6% YOY, finishing at a new 16 month low. Beef stocks had increased YOY for 14 consecutive months prior to the three most recent YOY declines experienced from Feb ’16 – Apr ’16. The MOM decline in beef stocks of 14.9 million pounds, or 3.2%, was larger than the ten year average March – April decline in beef stocks of 3.5 million pounds, or 0.9%. Apr ’16 beef stocks finished 2.8% below three year average figures for the month of April.
Chicken – Stocks Finish at a Ten Year High for the Month of April, up 5.3% YOY
Apr ’16 U.S. frozen chicken stocks of 806.1 million pounds increased 1.7% MOM and 5.3% YOY, finishing at a ten year high for the month of April. Chicken stocks increased YOY for the 17th 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 13.2 million pounds, or 1.7%, was slightly smaller than the ten year average March – April seasonal increase in stocks of 13.7 million pounds, or 2.3%. Stocks have built as the Russian import ban continues to negatively affect U.S. broiler exports. U.S. broiler export volumes have declined by 10.0% YOY since the ban was announced. Apr ’16 chicken stocks finished 18.7% higher than three year average figures for the month of April.
Overall, combined Apr ’16 U.S. pork, beef and chicken stocks remained 3.8% below the monthly record high experienced in Oct ’15. Individually, Apr ’16 U.S. pork, beef and chicken stocks each finished within 15% of historical maximum storage levels.
Apr ’16 combined U.S. pork, beef and chicken stocks finished 2.9% below the record high storage level for the month of April experienced during the previous year. Pork and chicken stocks each finished within 10% of historical maximum storage levels for the month of April while beef stocks finished within 15% of historical April storage levels.