Sheep Industry News March 2025

while New Zealand accounted for 25 percent, with the remain ing 1 percent coming from other countries. Mutton imports posted a 25-percent (11 million pounds) increase from last year to 55 million pounds. The rise in mutton imports were due to higher shipments from Australia (+24 percent) and New Zealand (+30 percent) to 46 and 9 million pounds, re spectively. PRICE DISCUSSION Average feeder lamb prices (60 to 90 pounds, Three-Market Colorado, South Dakota and Texas) have seen a sharp increase to start 2025. Feeder lamb prices have risen from $256 per cwt. at the start of the year to $345 per cwt. by mid-February, a 35-percent, or $89 per cwt., rise in about six weeks. Prices for 60- to 90-pound slaughter lambs (Three-Market Colorado, South Dakota and Texas) are seeing less volatility to start the year with prices moving seasonally lower from $252 per cwt. in early January to $216 per cwt. by mid-February, a decrease of 10 percent, or $23 per cwt. Slaughter lamb prices (national negotiated live) have been struggling to gain traction to start the year. Weekly prices have been ranging from $161 to $171 per cwt. through mid-Feb ruary, which is about $21 to $25 per cwt. (-11 to -13 percent) below the same period last year. The lamb cutout value has been averaging just below $4.60 per pound, which is down

about $1.20 per pound (-3 percent) on average from the same period in 2024. WOOL DISCUSSION In 2024, gains were seen in exports of raw wool (not in card ed/combed wool), as well as sheep and lambskins. Wool ex ports totaled 5,422 metric tons in 2024, which is up 60 percent (2023 metric tons) from 2023 and the highest export volume since 2018 (6,595 metric tons). On a value basis, wool exports posted a 31-percent ($4 million) increase over the prior year to nearly $17 million. Exports of sheep and lambskins totaled 604 million pieces in 2024, up 3 percent from the previous year. The value of sheep and lambskins reached $6.7 million, up 13 percent ($760,000) from 2023. Wool prices started 2025 on a positive note compared to where prices finished in December 2024. Since the start of 2025 through the first part of February in Australia, weekly wool prices have been posting gains of about 1 percent to al most 4 percent across most of the microns compared to where prices were at the end of 2024. The Eastern Market Indicator, in U.S. dollar terms, was at the highest point since April 2024. The number of bales offered has been slightly higher at the start of 2025. Strength in the wool prices in the face of a rise in the number of bales offered signals strengthening demand to start the year.

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March 2025 • Sheep Industry News • 7