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 fed lamb market was higher last week after three weeks of sharply lower prices. USDA called market lambs $7/cwt higher to sharply higher. The cutout continues to gain momentum, moving $6 higher from last week to $618.57. Unsurprisingly, harvest was lower last week. USDA estimates 24,000 sheep and lambs were processed, 9,000 fewer than the previous week and 11,000 fewer than last year.
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