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Sheep and goat market report for the week of January 29th | KTIC Radio

Sheep and goat market report for the week of January 29th

Sheep and goat market report for the week of January 29th

The sheep and goat market in the Midwest for the week ending January 29th was mixed to lower. Texas noted the sharpest drop in price across several auctions. Northern sales saw limited receipts as a major winter storm blanketed several states with deep snow.  Some in the industry are keeping a close eye on the coming week’s prices to see if the late winter high has been established ahead of Spring. Passover/Pesach and Easter are now just over a month away and buyers for these holidays may already have much of their orders filled and are holding to see if the market softens before buying their final needs.

The livestock markets in general this week were mixed. Cash cattle saw a higher undertone in many sale barns. Futures though saw live and feeder cattle contracts drop on the week. Lean hog futures made light gains on the week. The USDA on Friday released the bi annual cattle inventory report and showed a slight consolidation in the US cowherd. All cattle and calves in the United States as of January 1, 2021 totaled 93.6 million head, slightly below the
93.8 million head on January 1, 2020. All cows and heifers that have calved, at 40.6 million head, were slightly below the 40.7 million head on January 1, 2020. Beef cows, at 31.2 million head, were down 1 percent from a year ago. Milk cows, at 9.44 million head,
were up 1 percent from the previous year. Not sure that small of a drop will have substantial impacts to the sheep and goat market, but may have regional impacts if ranchers who reduced cattle herds have available grass and consider a coop grazing program.

Grains markets continue to move higher and foreign buyers continue to take notice of prices. China made 2 of the largest purchases in history of corn this week totaling nearly 230 million bushels. That equates to almost 15% of the carryout stocks of corn according to USDA’s January WASDE report. This will have impact to livestock feeders bottom line, but livestock prices will likely factor in higher grains in time.

Other input markets include the hay market. The Nebraska hay report from USDA noted a $4.75/ton increase in alfalfa prices for Western Nebraska and the Panhandle. Out of state buyers are still actively sourcing hay and keeping tonnage moving out of state. The Kansas USDA hay report was unavailable this week, but noted higher prices last week for alfalfa.

For the week of January 29th lamb slaughter of USDA inspection totaled 37,000 head that was 3,000 head more than the previous week. It was even with the number of lambs slaughtered a year ago. Saturday it was expected that processors would slaughter another 1,000 lambs making for 38,000 head on the week. That would be 3,000 more than the previous week and 1,000 more than the previous year. Year to date lamb slaughter is still 11.7% lower than 2020 at 143,000 head.

Lamb production under Federal Inspection totaled 2.5 million pounds for the week of January 29th. That was 13.6% or 300,000 pounds more than the previous week. Year to date lamb production totals 9.5 million pounds. That is 1.3 million or 12.4% less than the previous year.  The average live weight on lambs last week was 131 pounds, that was 4 pounds heavier than the previous week and 5 pounds less than the previous year. Dressed lamb weights for the week averaged 66 pounds, 2 pounds heavier than the previous week and 2 pounds lighter than the previous year.

Sale reports for the week of January 29th.

Monday January 25th Hamilton Commission Company in Hamilton Texas sold 1,110 head of sheep and goats. That compared to 1,819 head the previous week. Dorper lambs were steady to $10 softer, wool lambs were steady to $10 softer, barbado lambs were steady to $10 softer, ewes were steady, kids were steady, nannies were steady.

Highlighted quotes from Hamilton Commission Company; dorper and dorper cross lambs weighing 40-70 pounds brought $300-$370 cwt, wool lambs weighing 40-70 pounds brought $300-$340/cwt; feeder kids 20-40 pounds brought $330-$510/cwt; slaughter kids 40-70 pounds $300-$390/cwt.

Link to the report:

http://www.hamiltoncommissioncompany.com/wp-content/uploads/2010/12/1.25.21-sg-sale.pdf

Wednesday January 27th Kalona Iowa sold 290 head of sheep and goats. That compared to 545 head the previous week and 0 a year ago. Due to a snow storm and bad roads a thin test resulted in slaughter lambs 50-100 lbs. 7.00-35.00 higher, to few slaughter ewes and bucks for a true test. Slaughter kids 50-90 lbs. 5.00-10.00 higher on reduced numbers, slaughter nannies and billies firm with a weaker undertone on nannies.

Highlighted quotes from Kalona included; 15 slaughter lambs weighing 64 pounds bringing $315-$340/cwt, 32 head of slaughter lambs weighing 93 pounds brought $240-$255/cwt, 3 hair breed slaughter lambs weighing 118 pounds brought $140/cwt, 3 hair breed slaughter lambs weighing 40 pounds brought $240/cwt, 9 head of slaughter goats weighing 53 pounds brought $165-$190/cwt, 8 head of slaughter goats weighing 80 pounds brought $195-$202.50.

Link to the sale:

https://mymarketnews.ams.usda.gov/filerepo/sites/default/files/2153/2021-01-27/412218/ams_2153_00054.pdf

Wednesday January 27th Producers Livestock in San Angelo Texas sold 5,169 head of sheep and goats. That compared to 5,460 head the previous week and 5,791 head the previous year.  Compared to last week slaughter lambs under 70 lbs 5.00-10.00 lower, heavier weights fully 10.00-20.00 lower. Slaughter ewes firm to 5.00 higher. Feeder lambs not tested. Nannies steady; kids 5.00-15.00 higher. Trading and demand moderate.

Highlighted quotes from Producers Livestock; 43 head of slaughter lambs weighing 72 pounds brought $298-$330/cwt, 89 head of slaughter lambs weighing 93 pounds brought $250-$286/cwt, 98 head of hair breed lambs weighing 47 pounds brought $344-$363/cwt, 200 head of hair breed lambs brought $72 pounds $300-$334/cwt, 14 head of feeder goats weighing 41 pounds brought $400-$422/cwt, 237 head of slaughter goats weighing 63 pounds brought $360-$395/cwt, 16 head of slaughter goats weighing 93 pounds brought $280/cwt.

Link to the sale:

https://mymarketnews.ams.usda.gov/filerepo/sites/default/files/2014/2021-01-26/412328/ams_2014_00082.pdf

Thursday January 28th Colby Livestock in Colby Kansas sold 226 head of  goats. That compared to 432 head the previous week. Sheep and goats both saw softer prices this week one sale participant noted that lambs were $40/cwt lower, light kids were steady to  $20 lower, heavier kids were steady to $250/cwt lower. Talking with Leeland Wilson of the sale he noted that prices were  softer, but noted that the bad weather also lightened receipts and market participants due to poor road conditions.

Highlighted quotes from the sales; 4 head of boer feeder kids weighing 38 pounds brought $391/cwt, 11 head of boer cross feeder kids weighing 46 poiunds brought $385/cwt, 19 head of boer cross slaughter kids weighing 53 pounds brought $380/cwt, 15 boer cross wethers weighing 101 pounds brought $266/cwt.

Link to the sale:

https://docs.google.com/spreadsheets/u/1/d/e/2PACX-1vRlDngczYPTndddcGbCa-mhs34v8hcaRQmlzE_k3DMNLUu9tfT1lCYIQ5VcP_w_J9YeAhb8dHKNVAsu/pubhtml

 

Clay Patton has the full report here:

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