U.S. Livestock Cold Storage Update – Feb ’17
Executive Summary
U.S. cold storage figures provided by USDA were recently updated with values spanning through Jan ’17. Highlights from the updated report include:
According to USDA, Jan ’17 U.S. frozen pork stocks of 526.7 million pounds increased 10.8% MOM from the five year low experienced during the previous month but remained lower on a YOY basis, finishing down 15.8% to a seven year seasonal low. Pork stocks have finished lower on a YOY basis over 12 consecutive months through January. The MOM increase in pork stocks of 51.3 million pounds, or 10.8%, was smaller than the ten year average December – January seasonal increase in stocks of 68.5 million pounds, or 13.7%, contributing to the continued YOY declines. Jan ’17 pork stocks finished 14.1% below three year average figures for the month of January.
Beef – Stocks Increase to a Record Seasonal High, Finish up 0.6% YOY
Jan ’17 U.S. frozen beef stocks of 537.5 million pounds declined 5.3% MOM from the monthly record high experienced during the previous month but remained higher on a YOY basis, finishing up 0.6% to a record seasonal high for the month of January. The YOY increase in beef stocks was in addition to a 3.1% upward revision in Jan ’16 stock levels. Beef stocks have increased on a YOY basis over seven consecutive months through January. The MOM decline in beef stocks of 30.3 million pounds, or 5.3%, was a contraseasonal move when compared to the ten year average December – January seasonal increase in stocks of 4.5 million pounds, or 1.1%. Despite the seasonal decline, Jan ’17 beef stocks remained 10.8% above three year average figures for the month of January.
Chicken – Stocks Decline on a YOY Basis for the Sixth Consecutive Month, Finish Down 5.7%
Jan ’17 U.S. frozen chicken stocks of 774.9 million pounds declined 3.6% MOM while also remaining lower on a YOY basis for the sixth consecutive month, finishing down 5.7%. U.S. chicken stocks had increased on a YOY basis over 20 consecutive months prior to the six most recent YOY declines.The MOM decline in chicken stocks of 29.1 million pounds, or 3.6%, was larger than the ten year average December – January seasonal decline in stocks of 20.8 million pounds, or 2.7%. Despite remaining lower on a YOY basis, Jan ’17 chicken stocks finished 3.7% above three year average figures for the month of January.
Overall, Jan ’17 combined U.S. pork, beef and chicken stocks finished 7.2% below the monthly record high experienced during January of the previous year. Individually, Jan ’17 beef stocks remained near record high maximum storage levels while chicken and pork stocks finished within 20% and 25% of historical maximum storage levels, respectively.
Jan ’17 beef stocks increased to a record seasonal high for the month of January while chicken and pork stocks each finished within 20% of historical maximum January seasonal storage levels.
- Jan ’17 U.S. pork stocks remained lower on a YOY basis for the 12th consecutive month, finishing at a seven year seasonal low, while chicken stocks declined on a YOY basis for the sixth consecutive month during Jan ’17.
- U.S. beef stocks finished higher on a YOY basis for the seventh consecutive month during Jan ’17, finishing at a record seasonal high.
- Overall, Jan ’17 combined U.S. pork, beef and chicken finished 7.2% below the monthly record high experienced during January of the previous year.
According to USDA, Jan ’17 U.S. frozen pork stocks of 526.7 million pounds increased 10.8% MOM from the five year low experienced during the previous month but remained lower on a YOY basis, finishing down 15.8% to a seven year seasonal low. Pork stocks have finished lower on a YOY basis over 12 consecutive months through January. The MOM increase in pork stocks of 51.3 million pounds, or 10.8%, was smaller than the ten year average December – January seasonal increase in stocks of 68.5 million pounds, or 13.7%, contributing to the continued YOY declines. Jan ’17 pork stocks finished 14.1% below three year average figures for the month of January.
Beef – Stocks Increase to a Record Seasonal High, Finish up 0.6% YOY
Jan ’17 U.S. frozen beef stocks of 537.5 million pounds declined 5.3% MOM from the monthly record high experienced during the previous month but remained higher on a YOY basis, finishing up 0.6% to a record seasonal high for the month of January. The YOY increase in beef stocks was in addition to a 3.1% upward revision in Jan ’16 stock levels. Beef stocks have increased on a YOY basis over seven consecutive months through January. The MOM decline in beef stocks of 30.3 million pounds, or 5.3%, was a contraseasonal move when compared to the ten year average December – January seasonal increase in stocks of 4.5 million pounds, or 1.1%. Despite the seasonal decline, Jan ’17 beef stocks remained 10.8% above three year average figures for the month of January.
Chicken – Stocks Decline on a YOY Basis for the Sixth Consecutive Month, Finish Down 5.7%
Jan ’17 U.S. frozen chicken stocks of 774.9 million pounds declined 3.6% MOM while also remaining lower on a YOY basis for the sixth consecutive month, finishing down 5.7%. U.S. chicken stocks had increased on a YOY basis over 20 consecutive months prior to the six most recent YOY declines.The MOM decline in chicken stocks of 29.1 million pounds, or 3.6%, was larger than the ten year average December – January seasonal decline in stocks of 20.8 million pounds, or 2.7%. Despite remaining lower on a YOY basis, Jan ’17 chicken stocks finished 3.7% above three year average figures for the month of January.
Overall, Jan ’17 combined U.S. pork, beef and chicken stocks finished 7.2% below the monthly record high experienced during January of the previous year. Individually, Jan ’17 beef stocks remained near record high maximum storage levels while chicken and pork stocks finished within 20% and 25% of historical maximum storage levels, respectively.
Jan ’17 beef stocks increased to a record seasonal high for the month of January while chicken and pork stocks each finished within 20% of historical maximum January seasonal storage levels.