U.S. Livestock Cold Storage Update – Jun ’18
Executive Summary
U.S. cold storage figures provided by USDA were recently updated with values spanning through May ’18. Highlights from the updated report include:
According to USDA, May ’18 U.S. frozen pork stocks increased on a YOY basis for the sixth consecutive month, finishing up 5.7% to a three year seasonal high for the month of May. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the six most recent YOY increases. The April – May seasonal decline in pork stocks of 13.0 million pounds, or 2.0%, was significantly smaller than the ten year average seasonal decline in stocks of 29.3 million pounds, or 4.6%. May ’18 pork stocks finished 0.3% above three year average figures for the month of May.
Beef – Stocks Increase YOY for the Second Consecutive Month, Finish up 13.1%
May ’18 U.S. frozen beef stocks declined 1.2% MOM but remained up 13.1% YOY, finishing higher on a YOY basis for the second consecutive month and reaching a three year seasonal high for the month of May. Beef stocks had declined on a YOY basis over 14 consecutive months prior to increasing on a YOY basis over the past two months. The MOM decline in beef stocks of 5.6 million pounds, or 1.2%, was smaller than the ten year average April – May seasonal decline of 12.6 million pounds, or 2.7%. May ’18 beef stocks finished 3.6% above three year average figures for the month of May.
Chicken – Stocks Remain Higher YOY, Finish up 11.8% to a Record Seasonal High
May ’18 U.S. frozen chicken stocks increased 1.1% MOM and 11.8% YOY, finishing at a record seasonal high for the month of May. Chicken stocks have finished higher on a YOY basis over ten consecutive months through May. The May ’18 MOM build in chicken stocks of 9.7 million pounds, or 1.1%, was slightly smaller than the ten year average April – May seasonal build in stocks of 10.7 million pounds, or 1.8%, however. Despite the smaller than typical seasonal build in stocks, May ’18 chicken stocks finished 12.9% above three year average figures for the month of May, increasing vs. three year average figures for the 43rd consecutive month.
Overall, May ’18 combined U.S. pork, beef and chicken stocks finished within one percent of the monthly record high experienced during Jan ’16. Individually, May ’18 chicken stocks finished within 10% of historical maximum storage levels while pork stocks finished within 15% of historical maximum storage levels and beef stocks finished within 20% of historical maximum storage levels.
May ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of May. Pork and beef stocks each finished within 10% of historical seasonal highs while chicken stocks finished at a record seasonal high storage level.
- May ’18 U.S. pork stocks increased on a YOY basis for the sixth consecutive month, finishing up 5.7%, while U.S. beef stocks increased 13.1% YOY, finishing higher on a YOY basis for the second consecutive month. May ’18 pork and beef stocks each increased to three year seasonal highs for the month of May.
- May ’18 U.S. chicken stocks increased 11.8% YOY, finishing at a record seasonal high for the month of May.
- Overall, May ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of May and finished within one percent of the overall monthly record high experienced during Jan ’16.
According to USDA, May ’18 U.S. frozen pork stocks increased on a YOY basis for the sixth consecutive month, finishing up 5.7% to a three year seasonal high for the month of May. Pork stocks had finished lower on a YOY basis over 22 consecutive months prior to the six most recent YOY increases. The April – May seasonal decline in pork stocks of 13.0 million pounds, or 2.0%, was significantly smaller than the ten year average seasonal decline in stocks of 29.3 million pounds, or 4.6%. May ’18 pork stocks finished 0.3% above three year average figures for the month of May.
Beef – Stocks Increase YOY for the Second Consecutive Month, Finish up 13.1%
May ’18 U.S. frozen beef stocks declined 1.2% MOM but remained up 13.1% YOY, finishing higher on a YOY basis for the second consecutive month and reaching a three year seasonal high for the month of May. Beef stocks had declined on a YOY basis over 14 consecutive months prior to increasing on a YOY basis over the past two months. The MOM decline in beef stocks of 5.6 million pounds, or 1.2%, was smaller than the ten year average April – May seasonal decline of 12.6 million pounds, or 2.7%. May ’18 beef stocks finished 3.6% above three year average figures for the month of May.
Chicken – Stocks Remain Higher YOY, Finish up 11.8% to a Record Seasonal High
May ’18 U.S. frozen chicken stocks increased 1.1% MOM and 11.8% YOY, finishing at a record seasonal high for the month of May. Chicken stocks have finished higher on a YOY basis over ten consecutive months through May. The May ’18 MOM build in chicken stocks of 9.7 million pounds, or 1.1%, was slightly smaller than the ten year average April – May seasonal build in stocks of 10.7 million pounds, or 1.8%, however. Despite the smaller than typical seasonal build in stocks, May ’18 chicken stocks finished 12.9% above three year average figures for the month of May, increasing vs. three year average figures for the 43rd consecutive month.
Overall, May ’18 combined U.S. pork, beef and chicken stocks finished within one percent of the monthly record high experienced during Jan ’16. Individually, May ’18 chicken stocks finished within 10% of historical maximum storage levels while pork stocks finished within 15% of historical maximum storage levels and beef stocks finished within 20% of historical maximum storage levels.
May ’18 combined U.S. pork, beef and chicken stocks reached a record seasonal high for the month of May. Pork and beef stocks each finished within 10% of historical seasonal highs while chicken stocks finished at a record seasonal high storage level.