U.S. Livestock Cold Storage Update – Jan ’20
Executive Summary
U.S. cold storage figures provided by USDA were recently updated with values spanning through Dec ’19. Highlights from the updated report include:
According to USDA, Dec ’19 U.S. frozen pork stocks rebounded slightly from the ten month low level experienced throughout the previous month while finishing 15.0% higher on a YOY basis, reaching a record high seasonal level. The YOY increase in pork stocks was the largest experienced throughout the past four years on a percentage basis. Pork stocks have finished higher on a YOY basis over eight consecutive months through December. The MOM increase in pork stocks of 6.1 million pounds, or 1.1%, was a contraseasonal move when compared to the ten year average November – December seasonal decline in stocks of 7.6 million pounds, or 1.4%. The November – December build in pork stocks was the largest experienced throughout the past five years.
Beef – Stocks Remain Lower on a YOY Basis for the Tenth Consecutive Month, Finish Down 2.9%
Dec ’19 U.S. frozen beef stocks increased to an 11 month high level but remained 2.9% lower on a YOY basis, finishing at a five year low seasonal level. The YOY decline in beef stocks was the tenth experienced in a row. The MOM increase in beef stocks of 2.8 million pounds, or 0.6%, was smaller than the ten year average November – December seasonal build in stocks of 10.1 million pounds, or 2.3%.
Chicken – Stocks Finish 9.1% Higher YOY, Reaching a Record High Seasonal Level
Dec ’19 U.S. frozen chicken stocks declined 1.7% MOM from the record high monthly storage level experienced throughout the previous month but remained 9.1% higher on a YOY basis, reaching a record high seasonal level. The YOY increase in chicken stocks was the third experienced in a row and the largest experienced throughout the past 15 months on a percentage basis. The MOM decline in chicken stocks of 17.1 million pounds, or 1.7%, was slightly larger than the ten year average November – December seasonal decline in stocks of 9.1 million pounds, or 1.1%.
Overall, Dec ’19 combined U.S. pork, beef and chicken stocks finished 1.5% below the Sep ’18 record high level. Individually, Dec ’19 chicken stocks finished 1.7% below the record high storage level experienced throughout the previous month while beef and pork stocks finished within 16% and 18% of historical maximum storage levels, respectively.
Dec ’19 combined U.S. pork, beef and chicken stocks reached a record high seasonal level for the month of December. Individually, Dec ’19 pork and chicken stocks each finished at record high seasonal levels while beef stocks finished 16% below record high historical seasonal levels.
Dec ’19 combined U.S. pork, beef and chicken stocks finished 7.5% higher on a YOY basis. The Dec ’19 YOY increase in combined U.S. pork, beef and chicken stocks was the third experienced in a row and the largest experienced throughout the past 16 months on a percentage basis.
- Dec ’19 U.S. pork stocks finished 15.0% higher on a YOY basis, reaching a record high seasonal level.
- Dec ’19 U.S. beef stocks remained lower on a YOY basis for the tenth consecutive month, finishing down 2.9% and reaching a five year low seasonal level.
- Dec ’19 U.S. chicken stocks finished 9.1% higher on a YOY basis, reaching a record high seasonal level.
According to USDA, Dec ’19 U.S. frozen pork stocks rebounded slightly from the ten month low level experienced throughout the previous month while finishing 15.0% higher on a YOY basis, reaching a record high seasonal level. The YOY increase in pork stocks was the largest experienced throughout the past four years on a percentage basis. Pork stocks have finished higher on a YOY basis over eight consecutive months through December. The MOM increase in pork stocks of 6.1 million pounds, or 1.1%, was a contraseasonal move when compared to the ten year average November – December seasonal decline in stocks of 7.6 million pounds, or 1.4%. The November – December build in pork stocks was the largest experienced throughout the past five years.
Beef – Stocks Remain Lower on a YOY Basis for the Tenth Consecutive Month, Finish Down 2.9%
Dec ’19 U.S. frozen beef stocks increased to an 11 month high level but remained 2.9% lower on a YOY basis, finishing at a five year low seasonal level. The YOY decline in beef stocks was the tenth experienced in a row. The MOM increase in beef stocks of 2.8 million pounds, or 0.6%, was smaller than the ten year average November – December seasonal build in stocks of 10.1 million pounds, or 2.3%.
Chicken – Stocks Finish 9.1% Higher YOY, Reaching a Record High Seasonal Level
Dec ’19 U.S. frozen chicken stocks declined 1.7% MOM from the record high monthly storage level experienced throughout the previous month but remained 9.1% higher on a YOY basis, reaching a record high seasonal level. The YOY increase in chicken stocks was the third experienced in a row and the largest experienced throughout the past 15 months on a percentage basis. The MOM decline in chicken stocks of 17.1 million pounds, or 1.7%, was slightly larger than the ten year average November – December seasonal decline in stocks of 9.1 million pounds, or 1.1%.
Overall, Dec ’19 combined U.S. pork, beef and chicken stocks finished 1.5% below the Sep ’18 record high level. Individually, Dec ’19 chicken stocks finished 1.7% below the record high storage level experienced throughout the previous month while beef and pork stocks finished within 16% and 18% of historical maximum storage levels, respectively.
Dec ’19 combined U.S. pork, beef and chicken stocks reached a record high seasonal level for the month of December. Individually, Dec ’19 pork and chicken stocks each finished at record high seasonal levels while beef stocks finished 16% below record high historical seasonal levels.
Dec ’19 combined U.S. pork, beef and chicken stocks finished 7.5% higher on a YOY basis. The Dec ’19 YOY increase in combined U.S. pork, beef and chicken stocks was the third experienced in a row and the largest experienced throughout the past 16 months on a percentage basis.