Red Meat, Poultry Supplies Get a Little Tighter

The USDA monthly meat in cold storage update reflects good demand for most proteins.

Frozen red meat supplies at the end of September 2024 were down 1% on the year at 899.781 million pounds, with a 2% decline in beef to 413.787 million pounds and a slightly lower move for pork stocks at 460.141 million pounds, even with a year-to-year increase in monthly production.

Poultry in cold storage fell 4% from last year to 1.203 billion pounds on a 7% drop in chicken to 773.68 million pounds against a 1% rise for turkey to 427.245 million pounds, even as monthly chicken production grew and turkey production shrank.

EDITOR’S TAKE:

This report indicates that meat supplies overall remain very tight. Tight supply supports higher prices at the retail level. That means consumers will not likely see any relief when purchasing meat at the grocery store any time soon. However, it also suggests that livestock producers will continue to see favorable prices for their output, which translates into solid income levels at the farm gate. Farm margins should be more favorable due to less expensive feed costs and lower interest rates. Therefore, now is a great time to reach out to livestock producers in your area by placing your inventory on AgTruckTrader.com®. They should be at the very top of your customer prospect list!