The numbers were about as expected by the trade and the October stocks draw-down was quite normal. (The report data for meat and poultry appear in the link below.)

A few highlights are:

• Pork inventories 566.7 million pounds were 6.1 per cent lower than one year ago. They are still 8.2 per cent higher than the 5-year average for October 31, however. We had expected a pretty large drawdown of stocks due to lower-than-expected slaughter runs. Weights probably filled some of that shortfall but the drawdown was smaller than we had expected.
  
  
• Chicken stocks are still large (+8.2 per cent yr/yr) and grew by 6.3 per cent in October. Higher output could exacerbate this stocks situation.

Further Reading

You can view the full report by clicking here.