Sheep Industry News August 2022

The three-market (Colo., S.D. and Texas) feeder lamb prices have been on a seasonal decline with prices in June averaging at or more than $200 per cwt. The softening of feeder lamb prices is likely a result of el evated lambs on feed in Colorado and high feed costs. Slaughter lamb prices – national negotiated live – have been trending lower for most of the year and fell below 2021 levels the last week of May. In June, slaughter lamb prices aver

aged about $200 per cwt., which is still well above typical levels that are usually around $140 to $160 per cwt. The support for slaughter lamb prices comes from a lamb cutout value, which has ranged from $553 to $570 per cwt. in June, well above the $340 per cwt. five-year average price. Support for the lamb cutout comes from elevated prices in June for the shoulder, leg, loin and rack, which remain elevated with levels near the prior year and well above the five-year average.

2022 sheep and lamb slaughter to decline nearly 6 percent – or 132,000 head – to 2.131 million head. The lower slaughter rate during the second half of the year is expected to be partially offset by higher dressed weights leading to about a 4-percent

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August 2022 • Sheep Industry News • 7