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 called mostly steady with some instances of $5/cwt higher. The cutout value was $480.68 last Friday compared to $475.40 the week before. The estimated weekly harvest of 32,000 sheep and lambs was 3,000 fewer than the previous week and 2,000 fewer than last year. While year-to-date lamb and mutton production is outpacing last year, July saw a 2% decrease. Harvest for the month was 2% greater than a year ago, however. The average live weight was five pounds lower at 115 pounds. New crop lambs brought up to $150-$222/cwt.
