There is a record amount of meat in cold storage. USDA reports as of June 30, there’s eight percent more beef supplies in cold storage than one year ago at 448.6 million pounds. Total red meat supplies in freezers are down seven percent from the previous month, but up five percent from one year ago. Frozen pork supplies are down 10 percent from the previous month, but up slightly from one year ago. Pork bellies are down 16 percent from last month at 51 million pounds, an increase of 130 percent from one year ago.