The latest US Cold Storage numbers reported pork stocks at 511.1 million pounds for October, down 25.9m pounds from September and 68.7m pounds over year-ago levels. For reference, total pork in cold storage for September was revised lower from 537.9 to 537.0 million pounds.
The lower pork stocks can be attributed to the seasonal reduction in hams supplies, a result of increased buying heading into the holiday season. Total hams in cold storage dropped 38.1 million pounds for October with the boneless and bone-in varieties each down around 19m, bringing total hams 28.6 million pounds under a year earlier. Hams in cold storage typically climb from April onward to peak in September however this year's high was reached in August, similar to what occurred in 2019. Hams in cold storage are expected to fall through to the end of the year.
The category accounting for Other pork (which includes ears, tails, feet, neckbones and snouts) fell 3.6m on the month but is 1.8m over last year, while trimmings declined 1.7m for October bringing them 5.8m under October 2021 and unclassified pork stocks slipped 316 thousand pounds from last reported to 12.1m pounds over year ago levels.
Moderate increases were reported in remaining pork categories. Spare-ribs were up 6.6m pounds from the month previous and is up a significant 42.8m pounds over the lower supplies recorded last year and represents a new historical high for the month of October. Bellies rose 3.7m pounds in the latest data and is 28.6m pounds over the low year-ago supplies though is still considered strong for this time historically, while butts were up 2.7m pounds for October and is 5.5m pounds over last year. Total loins increased 2.2 million pounds from last reported with the bone-in variety accounting for the majority of the rise, bringing all loins 7.0 million pounds over last year. Variety meats in cold storage rose 2.2m pounds on the month and are 4.9m pounds over last year.
