U.S. Livestock Cold Storage Update – Feb ’16
Executive Summary
U.S. cold storage figures provided by USDA were recently updated with values spanning through Jan ’16. Highlights from the updated report include:
• U.S. pork and beef stocks each set new record high storage levels for the month of January, finishing up 6.9% and 5.4%, respectively YOY.
• U.S. chicken stocks declined MOM for the second consecutive month but remained within approximately ten percent of historical maximum storage levels.
• Combined U.S. pork, beef and chicken stocks set a new monthly record high during Jan ’16, finishing 0.6% above the previous record high experienced in Oct ’15.
Additional Report Details
Pork – Stocks Finish at Record High for the Month of January, up 6.9% YOY
According to USDA, Jan ’16 U.S. frozen pork stocks of 637.0 million pounds increased 16.7% MOM and 6.9% YOY, finishing at a new record high for the month of January. Pork stocks have increased YOY for 12 month in a row after 11 consecutive months of YOY declines were experienced from Mar ’14 – Jan ’15. The MOM increase of 91.3 million pounds, or 16.7%, was larger than the ten year average December – January seasonal increase in stocks of 71.2 million lbs, or 14.8%. Jan ’16 pork stocks finished 5.0% higher than the three year average January pork stocks.
Beef – Stocks Finish at Record High for the Month of January, up 5.4% YOY
Jan ’16 U.S. frozen beef stocks of 518.5 million pounds increased 1.2% MOM and 5.4% YOY, finishing at a new record high for the month of January. The monthly YOY increase in beef stocks was the 14th experienced in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The MOM increase in beef stocks of 5.9 million pounds, or 1.2%, was consistent with the ten year average December – January increase in beef stocks of 5.5 million pounds, or 1.4%. Beef stocks increased to a nine year high on an absolute basis and finished 10.6% higher than the three year average January beef stocks.
Chicken – Stocks Finish at a Ten Year High for the Month of January, up 12.9% YOY
Jan ’16 U.S. frozen chicken stocks of 824.8 million pounds declined 4.3% MOM but remained 12.9% higher YOY, finishing at a ten year high for the month of January. Chicken stocks increased YOY for the 14th month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The MOM decrease in chicken stocks of 36.8 million pounds, or 4.3%, was larger than the ten year average December – January seasonal decline in stocks of 17.2 million pounds, or 2.3%, however stocks remained at the fourth highest level experienced in the past nine and a half years on an absolute basis. Stocks have built as the Russian import ban continues to negatively affect U.S. broiler exports. U.S. broiler export volumes have declined by 10.9% YOY since the ban was announced. Jan ’16 chicken stocks finished 18.4% higher than the three year average January chicken stocks.
Overall, combined Jan ’16 U.S. pork, beef and chicken stocks set a new monthly record high, finishing 0.6% above the previous record high experienced in Oct ’15. Individually, Jan ’16 U.S. beef stocks finished within two percent of historical maximum storage levels while pork and chicken stocks finished approximately ten percent below historical maximum storage levels.
Jan ’16 U.S. pork and beef stocks reached new record high storage levels for the month of January while chicken stocks finished approximately ten percent below historical January maximum storage levels.
According to USDA, Jan ’16 U.S. frozen pork stocks of 637.0 million pounds increased 16.7% MOM and 6.9% YOY, finishing at a new record high for the month of January. Pork stocks have increased YOY for 12 month in a row after 11 consecutive months of YOY declines were experienced from Mar ’14 – Jan ’15. The MOM increase of 91.3 million pounds, or 16.7%, was larger than the ten year average December – January seasonal increase in stocks of 71.2 million lbs, or 14.8%. Jan ’16 pork stocks finished 5.0% higher than the three year average January pork stocks.
Beef – Stocks Finish at Record High for the Month of January, up 5.4% YOY
Jan ’16 U.S. frozen beef stocks of 518.5 million pounds increased 1.2% MOM and 5.4% YOY, finishing at a new record high for the month of January. The monthly YOY increase in beef stocks was the 14th experienced in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The MOM increase in beef stocks of 5.9 million pounds, or 1.2%, was consistent with the ten year average December – January increase in beef stocks of 5.5 million pounds, or 1.4%. Beef stocks increased to a nine year high on an absolute basis and finished 10.6% higher than the three year average January beef stocks.
Chicken – Stocks Finish at a Ten Year High for the Month of January, up 12.9% YOY
Jan ’16 U.S. frozen chicken stocks of 824.8 million pounds declined 4.3% MOM but remained 12.9% higher YOY, finishing at a ten year high for the month of January. Chicken stocks increased YOY for the 14th month in a row after nine consecutive months of YOY declines were experienced from Mar ’14 – Nov ’14. The MOM decrease in chicken stocks of 36.8 million pounds, or 4.3%, was larger than the ten year average December – January seasonal decline in stocks of 17.2 million pounds, or 2.3%, however stocks remained at the fourth highest level experienced in the past nine and a half years on an absolute basis. Stocks have built as the Russian import ban continues to negatively affect U.S. broiler exports. U.S. broiler export volumes have declined by 10.9% YOY since the ban was announced. Jan ’16 chicken stocks finished 18.4% higher than the three year average January chicken stocks.
Overall, combined Jan ’16 U.S. pork, beef and chicken stocks set a new monthly record high, finishing 0.6% above the previous record high experienced in Oct ’15. Individually, Jan ’16 U.S. beef stocks finished within two percent of historical maximum storage levels while pork and chicken stocks finished approximately ten percent below historical maximum storage levels.
Jan ’16 U.S. pork and beef stocks reached new record high storage levels for the month of January while chicken stocks finished approximately ten percent below historical January maximum storage levels.