According to the USDA's Cold Storage report released on Aug. 22, total red meat supplies in freezers were down 6 percent from the previous month but up 11 percent from last year. Frozen pork supplies were down 8 percent from the previous month but up 16 percent from last year. Stocks of pork bellies were down 39 percent from last month but up 38 percent from last year. 

Analysts see the possibility that the higher inventories may help keep a lid on retail pork prices. "Inventory build for the month was a bit slower than in previous years," according to the CME Daily Livestock Report."Larger than normal stocks should buffer some of the expected higher prices into September and October."

Total frozen poultry supplies on July 31 were up 2 percent from the previous month and up 10 percent from a year ago. Total stocks of chicken were up 1 percent from the previous month and up 14 percent from last year. Total pounds of turkey in freezers were up 3 percent from last month and up 5 percent from July 31, 2010.

Read the report...