U.S. Livestock Cold Storage Update – Feb ’18
Executive Summary
U.S. cold storage figures provided by USDA were recently updated with values spanning through Jan ’18. Highlights from the updated report include:
According to USDA, Jan ’18 U.S. frozen pork stocks increased on a YOY basis for the second consecutive month, finishing up 8.3%. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the two most recent YOY increases. A larger than average seasonal build in pork stocks contributed to the YOY increase in stocks experienced during Jan ’18. The December – January increase in pork stocks of 77.9 million pounds, or 15.9%, was larger than the ten year average seasonal build in stocks of 69.2 million pounds, or 13.8%. Jan ’18 pork stocks remained 2.4% below three year average figures for the month of January, however.
Beef – Stocks Remain Lower on a YOY Basis for the 12th Consecutive Month, Finish Down 7.2%
Jan ’18 U.S. frozen beef stocks remained 7.2% lower YOY, finishing at a three year seasonal low for the month of January. Beef stocks have finished lower on a YOY basis over 12 consecutive months through January. The MOM build in beef stocks of 11.5 million pounds, or 2.4%, was larger than the ten year average December – January seasonal build of 2.7 million pounds, or 0.8%, however. Jan ’18 beef stocks finished 4.2% below three year average figures for the month of January.
Chicken – Stocks Remain Higher YOY, Finish up 13.1% to a 12 Year January Seasonal High.
Jan ’18 U.S. frozen chicken stocks increased 13.1% on a YOY basis, finishing higher for the sixth consecutive month. Jan ’18 chicken stocks finished at a 12 year seasonal high for the month of January. The Jan ’18 MOM decline in chicken stocks of 10.7 million pounds, or 1.2%, was smaller than the ten year average December – January seasonal decline in stocks of 16.5 million pounds, or 2.1%, contributing to the YOY increase in stocks. Jan ’18 chicken stocks finished 13.0% above three year average figures for the month of January, increasing vs. three year average figures for the 39th consecutive month.
Overall, Jan ’18 combined U.S. pork, beef and chicken stocks finished 1.9% below the monthly record high experienced during Jan ’16. Individually, Jan ’18 pork stocks finished within 20% of historical maximum storage levels while beef stocks remained within 15% of historical maximum storage levels and chicken stocks finished within 5% of historical maximum storage levels.
Jan ’18 combined U.S. pork, beef and chicken stocks finished 1.9% below the record seasonal high for the month of January experienced during 2016. Pork and beef stocks each finished within 10% of historical seasonal highs while chicken stocks finished within 5% of record high January storage levels.
- Jan ’18 U.S. pork stocks increased on a YOY basis for the second consecutive month, finishing up 8.3%, while chicken stocks increased 13.1% YOY to a 12 year seasonal high for the month of January, finishing higher for the sixth consecutive month.
- Jan ’18 U.S. beef stocks remained lower on a YOY basis of the 12th consecutive month, finishing 7.2% below previous year volumes.
- Overall, Jan ’18 combined U.S. pork, beef and chicken stocks finished 1.9% below the monthly record high experienced during Jan ’16.
According to USDA, Jan ’18 U.S. frozen pork stocks increased on a YOY basis for the second consecutive month, finishing up 8.3%. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the two most recent YOY increases. A larger than average seasonal build in pork stocks contributed to the YOY increase in stocks experienced during Jan ’18. The December – January increase in pork stocks of 77.9 million pounds, or 15.9%, was larger than the ten year average seasonal build in stocks of 69.2 million pounds, or 13.8%. Jan ’18 pork stocks remained 2.4% below three year average figures for the month of January, however.
Beef – Stocks Remain Lower on a YOY Basis for the 12th Consecutive Month, Finish Down 7.2%
Jan ’18 U.S. frozen beef stocks remained 7.2% lower YOY, finishing at a three year seasonal low for the month of January. Beef stocks have finished lower on a YOY basis over 12 consecutive months through January. The MOM build in beef stocks of 11.5 million pounds, or 2.4%, was larger than the ten year average December – January seasonal build of 2.7 million pounds, or 0.8%, however. Jan ’18 beef stocks finished 4.2% below three year average figures for the month of January.
Chicken – Stocks Remain Higher YOY, Finish up 13.1% to a 12 Year January Seasonal High.
Jan ’18 U.S. frozen chicken stocks increased 13.1% on a YOY basis, finishing higher for the sixth consecutive month. Jan ’18 chicken stocks finished at a 12 year seasonal high for the month of January. The Jan ’18 MOM decline in chicken stocks of 10.7 million pounds, or 1.2%, was smaller than the ten year average December – January seasonal decline in stocks of 16.5 million pounds, or 2.1%, contributing to the YOY increase in stocks. Jan ’18 chicken stocks finished 13.0% above three year average figures for the month of January, increasing vs. three year average figures for the 39th consecutive month.
Overall, Jan ’18 combined U.S. pork, beef and chicken stocks finished 1.9% below the monthly record high experienced during Jan ’16. Individually, Jan ’18 pork stocks finished within 20% of historical maximum storage levels while beef stocks remained within 15% of historical maximum storage levels and chicken stocks finished within 5% of historical maximum storage levels.
Jan ’18 combined U.S. pork, beef and chicken stocks finished 1.9% below the record seasonal high for the month of January experienced during 2016. Pork and beef stocks each finished within 10% of historical seasonal highs while chicken stocks finished within 5% of record high January storage levels.