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.
Fed lamb prices were $5-$15/cwt lower again last week. Prices have now fallen $50/cwt during the past four weeks but remain higher than this time last year. Lamb harvest is 3.3% lower year-to-date with lamb and mutton production trailing last year by 8.6%. Lower supply and domestic prices have triggered an increase in imported lamb. Last week’s estimated harvest of 34,000 head was 1,000 fewer than the previous week and 2,000 fewer than a year ago.
