USDA reports more pork in storage

The USDA reported cold storage data after the close on Monday. There were 686.1 million pounds of pork in storage compared with estimates of 640 million pounds. Pork storage inventory levels were up 15% versus the end of January data and 5% higher that 2014. Normally a 7% month-over-month increase occurs. Beef in the freezers was reported at 492.1 million pounds, 20% higher than last year. Frozen chicken stocks were reported at 732.0 million pounds, up 8% versus last year and more than estimates of 713 million pounds.