USDA's Cold Storage Report showed total pork and beef stocks in frozen storage at the end of November were slightly less than expected. Pork stocks declined slightly more than anticipated last month, while beef stocks increased less than expected.
On Nov. 30, pork stocks in storage totaled 546.333 million lbs., which was nearly 19 million lbs. less than at the end of October and just over 12 million lbs. less than year-ago. Traders expected pork stocks to total 549.2 million pounds.
Beef stocks in storage at the end of last month totaled 445.002 million pounds. That was just over 9 million lbs. less than expected, but up nearly 5 million lbs. from October and around 3.2 million lbs. more than year-ago.
Total poultry stocks on Nov. 30 were 942.167 million lbs., which is around 200 million lbs. less than at the end of October but about 13.6 million lbs. more than year-ago. Check out the full report.