Cold Storage shows expected declines for beef and pork.

The latest monthly Cold Storage report counted 410.3 million lbs. of beef in frozen warehouses at the end of June. That was -11 million from the prior month. This was a steeper drop than the five year average of -5 for that month. Given lower production, that is reasonable and likely not market moving.

Frozen stocks of pork were estimated at 470.9 million lbs. That was -12 from the prior month. June is a stock drawdown month with a five year average of -18. Given the higher pork production figures this year this likely reasonable and expected.

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