USDA Reports Red Meat and Poultry Supplies Tighten Amid Rising Demand
The USDA’s latest cold storage report shows a slight tightening in red meat and poultry stocks, reflecting strong demand across various protein sources.
As of September 2024, total frozen red meat supplies declined by 1% year-over-year to 899.781 million pounds. Beef stocks dropped by 2% to 413.787 million pounds, while pork saw a minor decrease, sitting at 460.141 million pounds, despite a rise in overall monthly production.
The poultry category experienced a more substantial change, with a 4% year-over-year decrease to 1.203 billion pounds. Chicken stocks led this decline, down by 7% to 773.68 million pounds, even though production levels increased over the same period.
Turkey inventories, conversely, rose slightly by 1% to 427.245 million pounds, indicating continued demand for turkey products despite a decrease in production.
These figures offer a snapshot of the market as producers navigate both demand and supply constraints.
The USDA’s forthcoming supply and demand report, due November 8, will provide further insight into market trends and forecasts, offering stakeholders a clearer outlook for the months ahead.
For insights on red meat and poultry supply trends, visit our homepage for the latest USDA updates.
