August’s Frozen Beef Stocks Are Up

According to USDA’s monthly cold storage report released Sept. 22, U.S. frozen stocks of red meat at the end of August were up 4 percent from the previous year.  Red meat stocks as of Aug. 31  were also 4 percent larger than the prior month as stocks of beef continued to build.  As seen in prior months, frozen pork stocks were well below a year ago.

Stocks of frozen beef continued to swell in August, as U.S. exports to many trading partners remained closed.  Frozen beef stocks totaled 448 million pounds at the end of August and that was 21 percent or 77 million pounds above last year with boneless beef items up 26 percent. 

On a monthly basis, stocks of frozen beef increased nearly 21 million pounds or 5 percent.  On average, the monthly rate at which frozen stocks of beef have increased is around 1/2 of 1 percent, while the monthly growth rate for boneless items is 1 percent.

Source:  Livestock Marketing Information Center