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
The cash lamb market remained steady. The national weighted average for market lambs was $233.40/cwt last week, making it 36% higher than the price of $171.30 this time last year. The market fundamentals have not changed. Domestic demand has been good. Lamb imports remain lower than in the past, helping maintain prices above not only last year, but above the five-year average. The lamb carcass cutout value was $542.05 compared to $541.44 the previous Friday. The harvest estimate of 40,000 sheep and lambs was 2,000 more than the previous week and 4,000 more than a year ago. Live weights averaging 11 pounds less than last year is helping to limit production even with higher harvest rates. New crop lambs brought $212-$230/cwt.
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