The following article was 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.
Seasonal demand is beginning to shape expectations in the lamb sector as markets watch holiday buying patterns closely. Live lamb prices remain steady, with USDA calling them firm again last week. There are prospects for higher prices through the end of the year depending on holiday demand. The lamb cutout was $2.27 higher when compared to the previous Friday at $514.15.
The estimated weekly harvest once again outpaced last year at 40,000 sheep and lambs, making it 1,000 fewer than the previous week but 3,000 more than a year ago. New crop lambs were mixed, selling from $212-$248/cwt. Market participants continue to assess how holiday trends and consumer spending may influence the remainder of the year, especially as steady prices have carried momentum into late November.
