Sheep Industry News February 2024

umes relative to prior months might indicate more lamb in cold storage but, that was not the case late in the year. The November data – the latest available – indicated about 22 million pounds of lamb and mutton in storage. That was larger than the seasonal de cline in stocks and a more than 20-percent decline from the prior year. The decline indicates some price supporting movement of lamb to consumers in the market. WOOL Rising prices are supposed to be the market signal to bring more product to market and that is exactly what happened in the Australian wool market. Sharply higher prices late in the year – especially for very fine wools – brought more than 50,000 bales to the market to begin the year. More than 100,000 bales offered for sale in the first two weeks of the new year was reported to be the largest new year’s offering in four years. Weekly wool prices in U.S. dollars show higher prices for fine wools and steady to lower prices for more coarse grades in De cember through the first weeks of January. Under 17-micron wool has increased about U.S. $1 per pound since early November, set tling at U.S. $5.90 per pound for the week ending Jan. 12. Twenty one-micron wool started the year at U.S. $4.08 per pound, although it has been trending higher during the last couple of

months. It was U.S. $4.49 per pound a year ago at this time. The coarsest wools reported prices that were slightly higher than last year. Almost all other microns were lower than this time a year ago even though they have trended higher in recent months. GOING FORWARD It will likely be difficult to see increased domestic slaughter in 2024 compared to 2023. Continued reduced average dressed weights should contribute to tighter domestic production this year. Tighter supplies should contribute to strengthening prices this Spring compared to last.

EE

USA

LIGHTWEIGHT. STRONG. EASY.

SHEEP HANDLING EQUIPMENT

A shepherd’s dream: Portable sheep yards: Lightweight, tough, perfect for handling livestock. Easy assembly, built to withstand rugged conditions. 4-year warranty ensures reliability and peace of mind.

USA DEALER CONTACT Stockquip llc Tony Wutzke; 541 760 6280 tony_wut@outlook.com

LANDQUIP.CO.NZ

February 2024 • Sheep Industry News • 7