U.S. Livestock Cold Storage Update – Jul ’18
Executive Summary
U.S. cold storage figures provided by USDA were recently updated with values spanning through Jun ’18. Highlights from the updated report include:
According to USDA, Jun ’18 U.S. frozen pork stocks declined seasonally to a six month low but remained higher on a YOY basis for the seventh consecutive month, finishing up 0.2%. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the seven most recent YOY increases. The May – June seasonal decline in pork stocks of 63.7 million pounds, or 10.2%, was significantly larger than the ten year average seasonal decline in stocks of 39.3 million pounds, or 6.7%, however. Jun ’18 pork stocks finished 5.6% below three year average figures for the month of June.
Beef – Stocks Decline Seasonally but Remain Higher YOY for the Third Consecutive Month, up 8.0%
Jun ’18 U.S. frozen beef stocks declined seasonally to a ten month low but remained higher on a YOY basis for the third consecutive month, finishing up 8.0%. Beef stocks had declined on a YOY basis over 14 consecutive months prior to increasing on a YOY basis over the past three months. The MOM decline in beef stocks of 16.1 million pounds, or 3.5%, was significantly greater than the ten year average May – June seasonal decline of 2.2 million pounds, or 0.4%. Jun ’18 beef stocks finished 0.6% below three year average figures for the month of June.
Chicken – Stocks Remain Higher YOY, Finish up 10.3% to a Record June Seasonal High
Jun ’18 U.S. frozen chicken stocks increased 1.5% MOM and 10.3% YOY, finishing at a record seasonal high for the month of June. Chicken stocks have finished higher on a YOY basis over 11 consecutive months through June. The Jun ’18 MOM build in chicken stocks of 13.4 million pounds, or 1.5%, was a contraseasonal move when compared to the ten year average May – June seasonal decline in stocks of 2.1 million pounds, or 0.4%. Jun ’18 chicken stocks finished 13.7% above three year average figures for the month of June, increasing vs. three year average figures for the 44th consecutive month.
Overall, Jun ’18 combined U.S. pork, beef and chicken stocks finished within five percent of the monthly record high experienced during Jan ’16. Individually, Jun ’18 pork and beef stocks each finished within 25% of historical maximum storage levels while chicken stocks finished within five percent of historical maximum storage levels.
Jun ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of June. Pork stocks finished within 15% of historical seasonal highs while beef stocks finished within 10% of June record seasonal high storage levels. Chicken stocks finished at a record seasonal high storage level for the month of June.
- Jun ’18 U.S. pork stocks increased on a YOY basis for the seventh consecutive month, finishing up 0.2%, while U.S. beef stocks increased 13.1% YOY, finishing higher on a YOY basis for the third consecutive month. Larger than typical seasonal declines in pork and beef stocks results in both stocks finishing below three year average seasonal figures for the month of June, however.
- Jun ’18 U.S. chicken stocks increased 10.3% YOY, finishing at a record seasonal high for the month of June. Chicken stocks increased contraseasonally throughout the month.
- Overall, Jun ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of June and finished within five percent of the overall monthly record high experienced during Jan ’16.
According to USDA, Jun ’18 U.S. frozen pork stocks declined seasonally to a six month low but remained higher on a YOY basis for the seventh consecutive month, finishing up 0.2%. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the seven most recent YOY increases. The May – June seasonal decline in pork stocks of 63.7 million pounds, or 10.2%, was significantly larger than the ten year average seasonal decline in stocks of 39.3 million pounds, or 6.7%, however. Jun ’18 pork stocks finished 5.6% below three year average figures for the month of June.
Beef – Stocks Decline Seasonally but Remain Higher YOY for the Third Consecutive Month, up 8.0%
Jun ’18 U.S. frozen beef stocks declined seasonally to a ten month low but remained higher on a YOY basis for the third consecutive month, finishing up 8.0%. Beef stocks had declined on a YOY basis over 14 consecutive months prior to increasing on a YOY basis over the past three months. The MOM decline in beef stocks of 16.1 million pounds, or 3.5%, was significantly greater than the ten year average May – June seasonal decline of 2.2 million pounds, or 0.4%. Jun ’18 beef stocks finished 0.6% below three year average figures for the month of June.
Chicken – Stocks Remain Higher YOY, Finish up 10.3% to a Record June Seasonal High
Jun ’18 U.S. frozen chicken stocks increased 1.5% MOM and 10.3% YOY, finishing at a record seasonal high for the month of June. Chicken stocks have finished higher on a YOY basis over 11 consecutive months through June. The Jun ’18 MOM build in chicken stocks of 13.4 million pounds, or 1.5%, was a contraseasonal move when compared to the ten year average May – June seasonal decline in stocks of 2.1 million pounds, or 0.4%. Jun ’18 chicken stocks finished 13.7% above three year average figures for the month of June, increasing vs. three year average figures for the 44th consecutive month.
Overall, Jun ’18 combined U.S. pork, beef and chicken stocks finished within five percent of the monthly record high experienced during Jan ’16. Individually, Jun ’18 pork and beef stocks each finished within 25% of historical maximum storage levels while chicken stocks finished within five percent of historical maximum storage levels.
Jun ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of June. Pork stocks finished within 15% of historical seasonal highs while beef stocks finished within 10% of June record seasonal high storage levels. Chicken stocks finished at a record seasonal high storage level for the month of June.