The latest US Cold Storage numbers reported pork stocks at 427.3 million pounds for December, up 11.6m pounds from November however is 29.1m pounds under year-ago levels. Notably, November's cold storage amount was revised a modest -0.1% lower from 416.1m pounds down to 415.7m pounds. On the year, pork stocks for 2023 were down -3.3% overall compared to the year previous and continues at generally reduced levels historically (refer to the 10-year historical chart).
While pork categories varied from a month earlier, overall most stocks were increased in December. Pork bellies in cold storage rose 7.7m pounds from November, representing a 6-month high, however is 7.0m pounds under a year earlier. Spare-ribs increased 4.4m pounds in December bringing them 32.0m pounds under 2022 (an exceptional high period for the primal). Trimming stocks were up 2.7m pounds on the month however 5.8m under year-ago supplies, while variety meats increased 1.5m pounds from November and is 3.1m pounds higher than a year earlier. Total loins in cold storage were up 1.9m pounds from last reported and are 6.1m pounds over last year, with the bone-in and boneless varieties both above a month earlier and higher than year-ago supplies.
Total hams fell 2.3m pounds from November stocks with current supplies 1.6m pounds over a year earlier. Unclassified pork fell 2.5m pounds in December however is 1.0m pounds above last year, while butts and picnics were each down 1.1m pounds from a month earlier however butts were down 2.5m pounds compared to a year earlier while picnics were up 485 thousand pounds.
Competing meats in cold storage varied on the report. Total beef in cold storage was up 27.7m pounds from November stocks though was 58.8m pounds under last year's strong supplies, while total chicken (including broilers, fryers & roasters) slipped 429 thousand pounds lower for December though was 51.8m pounds under last year.
