Sheep Industry News January 2025

weight types should close the year steady to higher, which will set the table for the seasonal price movement upward in the first few months of 2025. Through 2024, feeder prices also tumbled from March ($324.61 per cwt.) to September (approximately $200 per cwt.), and since have trended upward through the first few weeks in December. But the key difference is that the rally of feeder prices has been mostly above last year’s prices, which from a producer perspective is a posi tive sign. Given the similar movements between last year and this year, I would expect the first few months of 2025 to have steady to strong feeder prices. TRADE Through the latest trade data for exports (October), U.S. exports for 2024 are at a total of 525,000 metric tons, which is 51,600 metric tons higher than last year for the same time period. In value, U.S. exports are valued at $29.8 million, which is $3.03 million higher than last year through October. Lamb and sheep skins and pieces make up the majority of U.S. exports in volume, while lamb and mutton (33 percent) and wool (47 percent) make up majority of the value. I have started using weekly data to watch imports, and in the first two weeks of Decem ber, U.S. fresh and frozen lamb imports have been approximately

7.4 million pounds. In the weekly import figures, you will see that through this year, we have started to import more fresh product from our trade partners, whereas U.S. imports for frozen products has remained relatively the same. Racks, short loins and legs make up majority of the product mix that the United States is importing. WOOL Through the last few weeks leading into the middle of December, the AWEX Eastern Market Indicator had fluctuated up and down but trended upward to 1,142 AU cents per kg. This is up from the bottom of 1,087 AUS cents per kg of the calendar year that was seen in late September to early October. But when converted to U.S. dol lars per pound, prices remained steady at $3.38 per lb. The reason for the difference is the exchange rate, in that the Aus tralian dollar has depreciated compared to the U.S. dollar. American wool prices have been steady to lower depending on quality. OUTLOOK Overall, prices throughout the supply chain have mixed signals depending on who is buying and who is selling. From a domestic standpoint, demand remains steady, imports have increased slightly, but I foresee the beginning of 2025 to be similar to 2024, unless there are massive macroeconomic shakeups.

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January 2025 • Sheep Industry News • 7