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.
The lamb market faltered somewhat last week with fed lambs selling $10-$30/cwt lower. Market ewes were steady with strong undertones. The lamb cutout value was $583.86 last Friday, about $10 higher than the previous week. It is estimated that 34,000 sheep and lambs were harvested last week, 1,000 more than the previous week and 2,000 head fewer than last year. Lamb imports had been trailing last year and the five-year average but hit a record or near record high in March. March is the month the U.S. typically imports the most lamb. About 96% of the lamb we import comes from Australia and New Zealand with Australia making up about three quarters of the total.
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