A buildup of pork stocks has been revealed by the USDA monthly Cold Storage report released last Friday, according to Meatingplace.com.

Levels of pork in cold storage was 547.3 million pounds as of July 31, up 8.3 percent from a year ago and about 25 percent above the five-year average, according to the report.

Especially high were ham stocks in cold storage, at 137.8 million pounds or 24 percent above the five-year average.

Paragon Economics President Steve Meyer reports in the CME Group Daily Livestock Report: "Ham prices normally help carry hog carcass values in Q4 but with such an increase in ham stocks, demand in Q4 could be softer than usual and negatively impact overall pork values,".

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Source: Meatingplace.com