U.S. pig meat stockpiles increased 22% in May, according to the latest U.S. Department of Agriculture report, due largely to rising meat prices that have curbed consumer demand.
Warehouses were storing 545.1 million pounds of pork as of May 31, up from 2010's 446 million pounds. Wholesale pork prices reached 98.31 cents per pound on May 16, the highest since 1997. Stockpiles of pork bellies are up 28% from 2010 numbers, at 56.5 million pounds as of May 31. Ham supplies rose 9.2% to 101.5 million pounds.