According to the USDA's Cold Storage report released on Wednesday, total meat supplies in freezers were down 5 percent from the previous month but up 15 percent from last year. Frozen pork supplies were down 8 percent from the previous month but up 20 percent from last year. Stocks of pork bellies were down 43 percent from last month and down 5 percent from last year.

Total pounds of beef in freezers were down 3 percent from the previous month but up 10 percent from last year.

Total frozen poultry supplies on July 31, 2012 were up 1 percent from the previous month but down 6 percent from a year ago. Total stocks of chicken were up slightly from the previous month but down 14 percent from last year. Total pounds of turkey in freezers were up 1 percent from last month and up 6 percent from July 31, 2011.