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.