US cold storage warehouses are full with meat - but hope for rising summer prices
The monthly report on the amount of meat stocks in the cold stores of USDA 31 December 2015 provides an inventory of approximately 960,000 t meat.
An order of magnitude was determined as of the date of 219.675 t pork . The amount of pork is up 8% compared to the same time of last year. The amounts to 3% have fallen compared to the previous month of November 2015. The recent decline is attributable to the rising pork exports in the last two months of the year 2015.
The beef stock is estimated at 233,000 t. These are 16% more than in the previous year, but basically there are at the same level as in the previous month. Background is the rebuilding of the American cattle herds, which lead to a more volume of beef in increasing measure.
The total of the quantities of red meat is estimated at 473.345 t. This amount is around 12% higher than in the previous year.
Poultry meat , 391,000 t identified chicken and 91,000 t Turkey meat. The chicken meat stocks fail to 21% greater than in the previous year. Turkey meat is only 3% more.
This development is the reluctance of potential importing countries due to the bird flu, which has experienced an overwhelming increase in the United States last year. Despite reducing the risk of infection, the importing countries remain cautious when the delivery of goods from the United States U.S. pork prices are rock-bottom prices of less than €1.08 / kg in the past 2 months. Prices have rebounded in recent weeks. For the Feb-date 2016 is expected the magnitude of €1,26 / kg. On the Chicago Exchange, the summer months are traded again with 1.50 to €1.60 / kg.
Since the United States and the EU are the two largest pork exporters with respectively around 30% share of trade at world level, the changes in both countries will affect more or less strongly to each other.
