It would appear that consumer demand for pork and beef was a bit better than expected during May.
Still, these are record high levels for the end of that month.
The total amount of beef in cold storage at the end of May was 498.607 million pounds, down 4% on the month and up 11% on the year, but below the average pre-report estimate by more than 27 million pounds.
Most of that was boneless beef at 427.454 million pounds.
Pork came out at 636.084 million pounds, 4% less than last month and 16% more than last year with the average guess before the report at 643.3 million pounds.
The closely watched pork belly stocks were down 13% from a month ago and up 14% from a year ago at 65.303 million pounds.
Red meat in cold storage totaled 1.158 billion pounds, 4% lower than on April 30, 2012 and 14% higher than the May 31, 2011 total...
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Source: Argentine Beef Packers S.A.
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