Prepared and written by Jeff Swenson, DATCP Livestock and Meat Specialist. The Market Update draws information from several sources, including trade publications, radio broadcasts, agricultural news services, individuals involved in the industry as well as USDA NASS and AMS reports.
Lamb
Lamb prices were steady to $30/cwt higher last week. The net cutout value dropped by nearly $5 with the reported price last Friday of $464.85. Last week’s estimated harvest was 37,000 sheep and lambs, 1,000 more than the previous week and 5,000 more than Thanksgiving week last year. October lamb and mutton production was 11.7 million pounds, 4% higher than last year.
Sheep and lamb harvest was 194,700 head and that was slightly more than last October. The average live weight of 118 pounds was three pounds heavier than the same month last year. Lamb and mutton stocks in cold storage for October were 2% lower than September and 3% lower than October 2023.
Hogs
Cash hogs were $2.05 lower last week. Estimated hog harvest was 2.565 million head, 73,000 fewer from the previous week and 344,000 more than the holiday-shortened week last year. October pork production totaled 2.54 billion pounds, 5% higher than the previous year. Year-to-date pork production is 2.5% higher than the same period in 2023.
The average live weight in October was 287 pounds, two pounds heavier than last year. October harvest totaled 11.9 million head and that was 4% higher than last year. The pork cutout was lower last week averaging $92.24, a drop of $3.24. Continued weakness spilled into this week with most primals showing significant price declines.
The USDA Cold Storage report released at the beginning of this week reported frozen pork supplies declining by 7% from the previous month and 3% from last year.
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