New Lamb Market Monthly Summary Released
The American Lamb Board (ALB) announces the introduction of a new monthly lamb market summary to provide the industry with increased data and analysis.
ALB has engaged the American Sheep Industry Association (ASI) to prepare the monthly Lamb Market Summary. The report includes:
Sheep and lamb slaughter
Lamb imports
Sheep and lamb prices
Market forecast
An economic overview of the consumer market is also included, which influences food choices in the US. The July summary says:
Consumer prices continued to rise in June with the Consumer Price Index (CPI) posting a higher than expected 9.1% year-over-year increase driven by higher prices for gasoline, housing, and food. The Food Index has steadily increased each month since January and has risen 10.4% over the past year. While prices for fuel have moderated some in recent weeks, prices are expected to remain at elevated levels which inevitably will increase the cost of food. Consumers appear to be managing food price inflation for now, but expectations for continued inflation and an impending economic slowdown are likely to challenge consumer demand.
The Lamb Market Summary, Weekly USDA market reports, and year-in-review reports can be found at www.lambresourcecenter.com/market-reports.
ALB is an industry-funded national research, promotion and information checkoff program that works on behalf of all American producers, feeders, seedstock producers, direct marketers and processors to build awareness and demand for American Lamb. ALB conducts promotion and research programs with the goal of creating greater demand and profitability for the entire industry. One of its long-term goals is to collaborate and communicate with industry partners and stakeholders to expand efforts to grow, promote, improve and support American Lamb.
