Sheep Industry News July 2025

Trade In the latest trade data, U.S. imports of lamb and mutton, for April, totaled 30.58 million pounds. Mutton imports accounted for 6 percent of total imports. April’s total import volume re mained relatively steady with March’s total import volume (30.43 million pounds) and was approximately 500,000 pounds (2 per cent) lower than the April 2024 import volume. The steady March and April volumes come after the 20.4-million-pound volume in February (lowest since June 2023). The May trade report will be interesting to follow because it will provide insights into the impact, if any, on import volume due to the trade disputes. U.S. lamb and mutton exports totaled .604 million pounds, with Mexico accounting for 43 percent of U.S. lamb and mutton exports. A surprise destination for U.S. exports in April was the Netherlands, which made up 12 percent of export volume. Addi tionally, the product that was exported to the Netherlands was all mutton. Given the uncertainty of the international trade market, the Netherlands as a destination for U.S. lamb and mutton prod uct will be interesting to monitor in the coming months. The total value of exports for April was $3.2 million, which was $159,000 lower than March. Wool As I write this in the first week of June, the wool market has had steady to lower movement in prices. The Australian Eastern

lower to $250.50 per cwt. in the first week of June. Through 2025, feeder lamb prices in these markets averaged $283.84 per cwt., which is $1.27 per cwt. lower compared to the same period in 2024, but $59.39 per cwt. higher compared to the previous five year average, for the same period. For 60- to 90-pound slaughter lambs, the three-market (CO, TX, SD) prices have had some volatility with prices being $216 per cwt. in February and peaks of prices at $294.10 per cwt. in May. In the first week of June, prices were at $199.96 per cwt. These price swings induce risk for both buyers and sellers in this market. In heavier weights, New Holland, PA prices have had steady increases throughout the year. In February, prices were $218 per cwt. and steadily increased to $361.96 per cwt. in May. Given that these animal’s dressed weights are above the average dressed weights, and prices are increasing, these signals suggest strong demand for lamb products and total volume. Through 2025, negotiated slaughter lamb prices averaged $169.55 per cwt. and were $171.27 per cwt. in the first week of June. These prices are underwhelming when compared to last year ($201.61 per cwt.), but they are slightly lower than the previ ous five-year average ($170.14 per cwt.). I expect these prices to increase due to seasonality trends, but the question becomes how high. Fundamentals suggest that they still have $10-$15 per cwt. of vertical movement.

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