ANALYSIS: January's Cold Storage Movement Maintains Seasonally-Enhanced Stride
The most recent Cold Storage figures help to confirm some of the supply-side indications which have remained evident throughout our canvassing efforts over the past month. Coming in at 831.6 million pounds, total frozen warehouse stocks through the end of December retreated on a year-over-year (YoY) basis by 6.5%, or 57.9 million pounds. This closely coincides with the weekly slaughter data where early-year holiday and weather-related plant downtime contributed to significant reductions in overall production.
When compared with December, outward movement came in 5%...
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