Sheep Industry News September 2025

Market Report Tyler Cozzens, PH.D.

Director, Livestock Marketing Information Center

Lamb and Mutton Supplies

T hrough July and into the first part of August, weekly lamb and mutton production has been averaging just over 2 million pounds per week. This is about on par with lamb and mutton production levels during the same time last year. Weekly lamb and yearling slaughter in July ranged from 32 to just over 34 thousand head per week, which was above year-ago levels by roughly 1,400 per head per week (5%). While the number of head slaughtered has been tracking above year ago levels in recent weeks, this increase has been partially offset by dressed weights tracking lower than last year by more than -2% (2 lbs.) on average, leading to similar year-over-year produc tion levels. Lamb and mutton in cold storage was reported at just under 21 million pounds in June, a decline of -11.6%, or almost 2.8 mil lion pounds, from a year ago. Each month in 2025 has reported inventory levels below a year ago and well below the five-year average. Lower levels of lamb and mutton in cold storage is a positive signal that inventory levels do not appear to be building, and demand is pulling product through the supply chain, which is price-supportive in the near term. Lamb Price Update Feeder lamb prices (60-90 lbs., 3-market average) continue to track seasonally lower through the summer months. In June, feeder lamb prices ranged from about $240 to just over $260 per

cwt. Prices in July were between $220 to $240 per cwt with the first week of August reporting a price of $223.75 per cwt. A year ago, the price for the first week of August was $214 per cwt, and the five-year average (2019-2023) was $195 per cwt. Slaughter lamb prices (national negotiated live) surged through June and into the first part of July, increasing from $161 per cwt to almost $200 per cwt. The first week of August report ed the highest slaughter lamb price for the year, so far, at $204 per cwt. A year ago, the first week of August reported a price of $196 per cwt. Seasonally, slaughter lamb prices strengthen during the summer months and peak around July, so the price strength into August is noteworthy. Seasonally, slaughter lamb prices tend to moderate lower through the second half of the year, which will be an item to watch through August and into September. Lamb and Mutton Trade Discussion USDA released statistics through June, giving a mid-year per spective on trade flows. Through the first six months of the year, lamb imports totaled 147.4 million pounds, which is a decline of 6.2 million pounds (-4.0%) from the same period last year. Year-to-date declines were seen from both Australia and New Zealand. Imports from Australia totaled 108.1 million pounds through June, a decrease of 2.1 million pounds (-1.9%) from last year. Lamb imports from New Zealand decreased 3.4 million pounds (-8.2%) to 38.0 million pounds through the first six months. From January to June, Australia accounted for 73% of total lamb imports, and New Zealand accounted for 26%. Lamb imports for May and June were 22.4 and 23.8 million pounds, respectively, which declined 5.7 and 4.6 million pounds, or -20.3% and -16.3%, from the prior year. Mutton imports in May were 816 thousand pounds, a decrease of nearly 3.0 million pounds (-78.5%), while im ports of mutton in June were just over 1.0 million pounds, which corresponds to a decrease of 2.1 million pounds (-67.1%). The slowing of lamb and mutton imports in May and June is notable as it is not only reflective of sea sonal patterns but also changing trade dynamics during those months. Moving into the second half of this year, if monthly lamb and mutton imports follow similar declines

6 • Sheep Industry News • sheepusa.org