ANALYSIS: Beef Cold Storage Stocks Dip Below 5-Year Average
In the latest monthly USDA cold storage report, total frozen beef stocks as of the end of March were reported at 481 million pounds, down 3.9% from February. Beef stocks were 10.3% below the year-ago figure of 535.8 million pounds, which was a seasonal all-time high.
This drawdown is in line with seasonal trends, which indicate that cold storage stocks typically hit their annual lows during the summer months due to peak beef demand during the grilling season...
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