Market News & Headlines >> Pork Belly Stocks Up Sharply Vs. Last Year
Monday’s monthly Cold Storage report from USDA held some negative news for hog/pork prices as it pegged March 31 frozen pork stocks 12% above a year earlier on a sharp increase in frozen pork belly stocks.
U.S. pork stocks in cold storage at the end of March totaled 611.0 million pounds, up less than 2 million from a month earlier, but up 65.6 million from a year earlier. March 31 frozen pork belly stocks of 59.2 million pounds were up 187% from year-earlier belly stocks of 20.6 million pounds.
USDA reported March 31 frozen beef stocks totaling 464.0 million pounds, up 4.7 million pounds or 1.0% from a month earlier, but virtually unchanged from a year earlier. Stocks of beef cuts were down 12.1% from a month earlier and 8.9% from a year earlier.