USDA Aug. 31 Cold Storage report

USDA reported total frozen poultry supplies on Aug. 31 were up 5 percent from the previous month and up 11 percent from a year ago in its monthly Cold Storage report.Total stocks of chicken were up 6 percent from the previous month and up 19 percent from last year. Total pounds of turkey in freezers were up 3 percent from last month and up 1 percent from August 31, 2017.Chicken wing inventories were up 54 percent from a year ago. While some stockpiling is normal ahead of the NFL season, the Daily Livestock Report (DLR), published by Steiner Consulting Group, noted that August broiler wing inventories were up 11 percent from July, compared to a five-year average buildup of 5 percent from July to August.  “We think that lower priced chicken breast have bolstered boneless wing features and negatively impacted wind demand,” the DLR analysts wrote.BeefTotal pounds of beef in freezers were up 4 percent from the previous month and up 6 percent from last year.The DLR speculated that robust beef exports could have contributed to the increased stocks in cold storage.PorkFrozen pork supplies were up 6 percent from the previous month and up 1 percent from last year. Stocks of pork bellies were down 14 percent from last month but up 82 percent from last year.The DLR noted that hog supplies are higher than a year ago, which is expected to result in record high pork production this fall.The DLR analysts concluded, “Large meat protein supplies, a big increase in feedlot inventories and expected record pork production this fall will likely temper meat price inflation in the near term.”