News

Red meat supplies shrink slightly as poultry grows

U.S. red meat supplies tightened during May.

The USDA says there were 872.454 million pounds of red meat in the freezer at the end of last month, 1% below a year ago, with a 1% dip in beef to 403.474 million pounds canceling out a slight rise for pork at 451.917 million pounds.

Slower demand was least a modest factor, since beef production fell by more than 1% during the month and pork production declined.

Poultry totaled 1.127 billion pounds, up 2% on the year, with chicken and turkey both posting 2% year-over-year gains at 771.047 million and 354.921 million pounds, respectively.

The USDA’s next round of supply and demand estimates is out July 10^th.