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Red meat, pork supplies below a year ago

The USDA says pork supplies in cold storage at the end of June were well below a year ago. Pork came out at 464.373 million pounds, slightly less than at the end of May and 25% below the year before because of reduced production levels due to COVID-19 and solid demand ahead of the July 4th weekend. Beef was reported at 428.122 million pounds, an increase of 3% on the month and 6% on the year because of comparatively slower demand. That drop in pork led red meat supplies to a 12% year to year decline at 942.493 million pounds.

Chicken stocks were pegged at 854.960 million pounds, down slightly on the month, but up 2% on the year, while turkey totaled 473.670 million pounds, 13% more than the prior month, but 12% less than last year, putting poultry at 1.337 billion pounds, a year to year decrease of 3%.

The USDA’s red meat production numbers for June are out Thursday afternoon and the monthly poultry production report is due Friday afternoon.

Cheese and butter stocks at the end of June were up on the year. The total for cheese was 1.416 billion pounds, up 3% from the end of June 2019, with American type cheese 1% higher at 793.326 million, Swiss cheese 12% lower at 24.003 million pounds, and other types of cheese rising 5% to 599.029 million pounds, a record monthly high. Butter in cold storage came out at 361.643 million pounds, 11% more than a year ago.

The USDA’s dairy product production numbers for June are out August 4th.

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