The combined inventory of red meat and poultry in cold storage at the end of January was 2.374 billion pounds, that’s 102.4 percent of a year earlier and more significantly, 106 percent of the five-year average. Beef was 96 percent of a year ago. The build-up came from pork and broilers.
Pork in cold storage at the end of January was 625.188 million pounds, or 111 percent of last year and was just short of the monthly record set in 2016. Stocks were 108 percent of the five-year average. Pork inventory in cold storage was higher than year-ago levels for six months of 2019 – including all of the last quarter.
Chicken inventories did set a record; the amount of chicken in cold storage was 957.492 million poun...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
