The latest US Cold Storage numbers reported pork stocks at 416.1 million pounds for November, down 21.8m pounds from October and 35.5m pounds under year-ago levels. Notably, October's cold storage amount was revised +0.5% higher from 435.9m pounds up to 437.9m pounds.
The large month-over-month decline is primarily a result of the seasonal drop in ham supplies, which typically fall from August or September through to the end of the year. Total hams dropped 55.3m pounds from October stocks with current supplies 3.0m pounds over a year earlier. Other pork categories recorded more moderate declines with unclassified pork down 1.0m pounds on the month but is 2.3m lbs over last year, other pork slipped 462 thousand pounds from October but is 736 thousand lbs over Nov 2022 and pork butts fell 453 thousand pounds for November and is 3.2m lbs under a year earlier.
Pork bellies in cold storage rose 18.9m pounds for November, however is 7.5m pounds under a year earlier. Trimmings rose 6.9m pounds from October stocks and is near even with last year, while spare-ribs increased 6.6m pounds in November bringing them 34.5m pounds under 2022 (an exceptional high period for the primal). Variety meats were up 1.3m pounds on the month and modestly higher than a year earlier, while total loins in cold storage climbed 1.2m pounds from last reported and is 1.1m pounds over last year.
