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.
Heavy lambs were higher last week, but light lambs were sharply lower nationally. USDA estimates that 30,000 sheep and lambs were harvested last week, which was 10,000 fewer than the previous week and 11,000 fewer than a year ago. The lamb cutout value was nearly $2 higher at $552.91. February exports of U.S. lamb muscle cuts totaled 326 metric tons, up 52% from a year ago and the largest since May. Export value increased 31% to $1.47 million. New crop lambs brought $250-$277 cwt with some to $280/cwt.
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