10/21: Cold Storage Report: Pork Stocks Above Expectations, Beef Stocks Lower

02:39PM Oct 21, 2011
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Total pork stocks in storage as of Sept. 30 totaled 490.713 million pounds. That was well above the average pre-report trade guess of 454.7 million pounds. Pork stocks increased 10.8% from August and 15.6% from Sept. 2010.

Total beef stocks were reported at 428.081 million lbs., which was below the pre-report trade guess of 433 million pounds. Beef stocks were virtually unchanged from August, but 7.9% above year-ago.

Total poultry stocks came in at 1.194 billion lbs., which was 2.8% lower than month-ago and 0.4% higher than year-ago.

The much-higher-than-anticipated pork stocks would suggest that supplies were heavier than believed and/or demand wasn't as strong as expected during September.

Link to report