USDA’s Cold Storage Report shows higher inventories.
Red meat and poultry jumped 16 percent in April. Beef saw the highest jump, indicating a slower demand following a year-over-year decrease in production. Poultry jumped one percent higher, with gains in chicken canceling out turkey, which recorded record monthly lows.
Cheese storage jumped as well, and one dairy analyst expects his main takeaway from the April report.
“Well, the main thing that sticks out is we finally saw American cheese inventory increase. The first 3 months of the year it decreased which was contra-seasonal. But now we saw an increase. It wasn’t a lot of an increase, up 7.8 million pounds. But the interesting thing is that some of that reasoning comes back from the revision in the March report, revised 6.2 million pounds higher. So we didn’t see the initial decline that we looked at last month.”
That puts us one percent higher than this time a year ago. Robin Schmahl says all cheese of dairy was up nearly 15 million pounds in April over March.
Related:
Consumers Want More American Cheese!
Cold storage facilities near capacity in the U.S.
Let’s head to a 100 year old dairy farm to celebrate National Cheese Lover’s Day!
