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U.S. red meat, poultry stocks under year ago levels
U.S. red meat and poultry supplies in cold storage tightened during February.
The USDA says red meat stocks on March 1st were 5% below a year at 871.38 million pounds with beef down 2% at 428.131 million pounds and pork dropping 8% to 423.137 million pounds due to good demand and year-to-year declines in production.
Total frozen poultry fell 3% to 1.087 billion pounds as an 11% drop in turkey to 292.505 million pounds more than canceled out a 1% rise for chicken to 793.332 million pounds. That decrease for turkey stocks was tied to lower production, while the slight increase for chicken can be linked to demand.
The USDA’s updated red meat and poultry supply and demand numbers are out April 10th.
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