BrownfieldAgNews reports:
U.S. red meat and poultry supplies at the end of May were down on the year.
The USDA says red meat in cold storage on May 31st totaled 878.731 million pounds, 4% below last year, with beef 1% lower at 407.786 million and pork falling 7% to 450.983 million pounds on a combination of a dip in production and good demand.
Poultry was reported at 1.103 billion pounds, a year-to-year decline of 6%, with a 1% rise for chicken to 754.392 million on slightly slower demand more than canceled out by an 18% drop in turkey to 346.231 million pounds due to lower production caused by tighter ready numbers.
The USDA’s updated annual red meat and poultry supply and demand outlook is set for July 11th.
