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: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
