Sheep Industry News October 2024

trends. National cash traded lambs peaked at $219 per cwt. in May and trended downward until the end of August ($174.69 per cwt.), which was expected. Usually, prices find a bottom in September and hold. Last year, prices picked up to $200 per cwt. and oscillated there. Currently, prices have started an upward trend from $174.69 per cwt. to $185 per cwt. in the beginning of September. Given the historical trend, one could expect this price range to hold. Because it’s atypical to trend, this is something to watch in the coming weeks and months. The 60- to 90-pound slaughter lamb prices in the three-market (Colorado, South Dakota and Texas) series have been higher than last year for most of the year. Prices started lower than the previous five-year average, then

FEEDER PRICES Similar to slaughter lamb prices, feeder lambs have had some positivity and have been higher than last year. Currently, prices are at $260.50 per cwt., which is above last year ($192.5 per cwt.) and the previous five-year average ($175 per cwt.). Current prices are at levels seen in April of this year, which is a trend that’s atypical.

trended above the previous five-year average through the summer. As we got into September, prices were at $210 per cwt., which is $10 per cwt. higher than a year ago, and up from the previous five-year average of $174 per cwt. Prices tend to increase through the rest of the year, thus if everything holds, one could expect higher prices as we get toward the end of the year.

See MARKET REPORT on Page 36

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October 2024 • Sheep Industry News • 7