U.S. Livestock Cold Storage Update – May ’18
Executive Summary
U.S. cold storage figures provided by USDA were recently updated with values spanning through Apr ’18. Highlights from the updated report include:
According to USDA, Apr ’18 U.S. frozen pork stocks increased on a YOY basis for the fifth consecutive month, finishing up 8.7%. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the five most recent YOY increases. The March – April seasonal build in pork stocks of 30.4 million pounds, or 5.0%, was significantly greater than the ten year average seasonal build in stocks of 17.8 million pounds, or 2.8%. Despite the greater than average seasonal build in volumes, Apr ’18 pork stocks remained 0.2% below three year average figures for the month of April, however.
Beef – Stocks Increase YOY for the First Time in the Past 15 Months, Finish up 2.9%
Apr ’18 U.S. frozen beef stocks increased 1.6% MOM and 2.9% YOY, finishing higher on a YOY basis for the first time in the past 15 months. The MOM build in beef stocks of 7.6 million pounds, or 1.6%, was a contraseasonal move when compared to the ten year average March – April seasonal decline of 5.0 million pounds, or 1.2%. The contraseasonal build in volumes contributed to Apr ’18 beef stocks finishing 0.3% above three year average figures for the month of April.
Chicken – Stocks Remain Higher YOY, Finish up 8.8% to a Record Seasonal High
Apr ’18 U.S. frozen chicken stocks declined 0.6% MOM but remained 8.8% higher on a YOY basis, finishing at a record seasonal high for the month of April. Chicken stocks have finished higher on a YOY basis over nine consecutive months through April. The Apr ’18 MOM decline in chicken stocks of 5.1 million pounds, or 0.6%, was a contraseasonal move when compared to the ten year average March – April seasonal build in stocks of 20.4 million pounds, or 3.1%. Despite the contraseasonal decline in volumes, Apr ’18 chicken stocks finished 9.8% above three year average figures for the month of April, increasing vs. three year average figures for the 42nd consecutive month.
Overall, Apr ’18 combined U.S. pork, beef and chicken stocks finished within 0.1% of the monthly record high experienced during Jan ’16. Individually, Apr ’18 pork and chicken stocks each finished within 10% of historical maximum storage levels while beef stocks finished within 20% of historical maximum storage levels.
Apr ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of April. Pork and beef stocks each finished within 10% of historical seasonal highs while chicken stocks finished at a record seasonal high storage level.
- Apr ’18 U.S. pork stocks increased on a YOY basis for the fifth consecutive month, finishing up 8.7%, while U.S. beef stocks increased 2.9% YOY, finishing higher on a YOY basis for the first time in the past 15 months.
- Apr ’18 U.S. chicken stocks declined contraseasonally but remained up 8.8% YOY, finishing at a record seasonal high for the month of April.
- Overall, Apr ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of April and finished within 0.1% of the overall monthly record high experienced during Jan ’16.
According to USDA, Apr ’18 U.S. frozen pork stocks increased on a YOY basis for the fifth consecutive month, finishing up 8.7%. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the five most recent YOY increases. The March – April seasonal build in pork stocks of 30.4 million pounds, or 5.0%, was significantly greater than the ten year average seasonal build in stocks of 17.8 million pounds, or 2.8%. Despite the greater than average seasonal build in volumes, Apr ’18 pork stocks remained 0.2% below three year average figures for the month of April, however.
Beef – Stocks Increase YOY for the First Time in the Past 15 Months, Finish up 2.9%
Apr ’18 U.S. frozen beef stocks increased 1.6% MOM and 2.9% YOY, finishing higher on a YOY basis for the first time in the past 15 months. The MOM build in beef stocks of 7.6 million pounds, or 1.6%, was a contraseasonal move when compared to the ten year average March – April seasonal decline of 5.0 million pounds, or 1.2%. The contraseasonal build in volumes contributed to Apr ’18 beef stocks finishing 0.3% above three year average figures for the month of April.
Chicken – Stocks Remain Higher YOY, Finish up 8.8% to a Record Seasonal High
Apr ’18 U.S. frozen chicken stocks declined 0.6% MOM but remained 8.8% higher on a YOY basis, finishing at a record seasonal high for the month of April. Chicken stocks have finished higher on a YOY basis over nine consecutive months through April. The Apr ’18 MOM decline in chicken stocks of 5.1 million pounds, or 0.6%, was a contraseasonal move when compared to the ten year average March – April seasonal build in stocks of 20.4 million pounds, or 3.1%. Despite the contraseasonal decline in volumes, Apr ’18 chicken stocks finished 9.8% above three year average figures for the month of April, increasing vs. three year average figures for the 42nd consecutive month.
Overall, Apr ’18 combined U.S. pork, beef and chicken stocks finished within 0.1% of the monthly record high experienced during Jan ’16. Individually, Apr ’18 pork and chicken stocks each finished within 10% of historical maximum storage levels while beef stocks finished within 20% of historical maximum storage levels.
Apr ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of April. Pork and beef stocks each finished within 10% of historical seasonal highs while chicken stocks finished at a record seasonal high storage level.