According to the USDA's latest Cold Storage report released on July 22, total red meat supplies in freezers were down 6 percent from the previous month but up 17 percent from last year.

Frozen pork supplies were down 9 percent from the previous month but up 20 percent from last year. Stocks of pork bellies were down 18 percent from last month but up 33 percent from last year.

To read the report...