Stocks of frozen pork bellies continue to erode, Len Steiner reported in his Monday “Daily Livestock Report.”
According to the National Agricultural Statistics Service Cold Storage report that was released Feb. 23, as of the end of January pork belly stocks were down 22% from the month prior and down 77% from the year before – reaching the lowest level since the end of September 2015.
Frozen pork supplies were up 11% from the previous month, but down 16% from last year.
Total red meat supplies in freezers were up 2% from the previous month, but down 9% from last year.
Frozen beef stocks increases slightly (0.6%) year-over-year and also dropped compared to the prior month.