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US lamb market update
27 February 2019
US imported lamb prices have made a strong start to 2019, despite heightened supply from Australia and New Zealand.
US domestic lamb market
- As of 1 February, lambs on feed in Colorado totalled an estimated 152,898 head, 15.3% lower than year-ago levels, with the fall being an apparent reaction to weak domestic prices in the second half of 2018.
- US lamb and sheep slaughter in the four weeks ending 16 February averaged 38,000 head per week, 7.2% higher than the previous year. Recent price gains have encouraged producers to push more numbers into the marketplace.
- The domestic lamb cutout value in January was 5% higher than the same period in 2018.
Imported lamb supply and price trends
- Total lamb imports so far this year (through 9 February) were reported to be 10,791 tonnes swt, 12.6% higher than the same period in 2018.
- Lamb imports from Australia during this period were 11.9% higher than last year and lamb imports from New Zealand were 16.0% higher.
- Prices for imported lamb were sharply higher in the second half of 2018 and have continued on that trend; however, some items have eased.
- Australian mutton exports to the US in January were 19% lower than a year ago.
Read the latest monthly US Lamb Market Update prepared by Steiner Consulting
