For the week ending March 6th the Midwest sheep and goat was a mixed picture. Lamb and kid prices in Southern sales were softer to lower. While northern sales didn’t have a solid test on kids they did note a steady to higher market on lambs. Northern sales noted more steady and strong demand. Southern sales noted moderate demand. This sets up an interesting dynamic because two weeks ago volume was super low due to the arctic blast that hit the plains. Then last week volume returned and prices rocketed higher with strong demand. The working theory was that buyers were short bought and didn’t want to risk another market disruption before they had all of their orders filled. Now with this week’s mixed trade it’s tough to try and note where demand really stands. The strong rally we saw following the cold snap could have very well been pent up energy and now we are back to the status quo where the winter highs are in and we coast to the spring market.
Other commodity markets were mixed to lower for most of the week. Grains tested nearby highs on the charts, but were unable to move above them. This coming week the USDA will release the latest supply and demand data in the WASDE report. There is some concern that if USDA doesn’t change soybeans use numbers there could be a 120 million bushel deficit. Of course this has been a concern now for over a month and many producers concerned with possible feed shortages have likely taken steps to procure feed ahead of time or are changing rations. The good news this week is US ethanol production came back and ddgs should be more available. In the long run it appears that higher grain prices are here to stay in the near term of the year.
Other feed input markets to report include the hay market. Kansas and Nebraska both reported slightly different hay markets. Kansas saw steady movement and prices of hay. USDA Kansas reporter noted that with the bitter cold likely behind most ranchers finally inventories are being taken and seeing if there is any excess to try and sell into a decent market. Nebraska hay report showed that alfalfa sold fully steady to 5.00 higher and ground and delivered cornstalks steady to 10.00 higher. Demand continues to stay steady with out of state buyers looking for dairy quality alfalfa. There is some chatter in Nebraska that farmers will bale corn stalks when fields get dried out.
For the week ending 3/5 lamb slaughter under federal inspection was estimated at 37,000 head on Friday. There is an expected Saturday slaughter of a 1,000 head. That will bring the total weekly slaughter to 38,000 head. That’s 2,000 head more than last week and 1,000 more than the previous year. Year to date lamb slaughter at 319,000 head. About 6.7% or 23,000 head lighter than a year ago. Lamb slaughter has steadily been catching up with last year’s level taking about 0.5%-1% off the deficit each week over the last month or so. Cattle and hog slaughter is also down about 3.5%-4.0% from year ago levels for reference. They have also been catching up to the previous years slaughter levels, but not at the same quick pace as lambs. USDA data shows that goat slaughter under federal inspection was 6,152 head for the week as of 3-4. Lamb and mutton production under federal inspection through 3/5 is estimated at 2.6 million pounds. That is 200,000 pounds more than last week. Year to date lamb and mutton production is estimated at 21.6 million pounds. That is down 6.3% or 1.4 million pounds. The average live lamb weight for the week ending 3/5 was 136 pounds, unchanged from last week and 1 pound lighter than last year. Dressed weights for lambs this week were 68 pounds. That is unchanged from last week and 1 pound lighter than a year ago.
As for ethnic holidays that may influence markets. We are now 1 month from Passover March 27- April 4, Western Roman Easter April 4, Ramadan month of fasting.
Sale reports from the week
Hamilton Commission Company Hamilton Texas sold 2,100 head of sheep and goats on Monday 3/1. That compares to 1,475 head in the previous week’s sale. Dorper lambs were $10-$20 softer, wool lambs were $10-$20 softer, barbado lambs were $10-$20 softer, ewes steady, kids steady and nannies sharply higher. Highlighted quotes from the sale include dorper and dorper cross lambs weighing 40-70 lbs brought $250-$355/cwt. Wool lambs weighing 70lbs & up brought $190-$280/cwt. Kid goats weighing 40-70 lbs brought $280-$450/cwt.
http://www.hamiltoncommissioncompany.com/wp-content/uploads/2010/12/3.1.21-sg-sale.pdf
Producers Livestock San Angelo Texas sold 6,486 head of sheep and goats on Wednesday 3/3. That compared to 2,653 head on 2/23 and 6,103 head last year. Compared to last week all classes of sheep sharply lower in a market adjusting for last week’s weather related market. Nannies sharply lower; kids firm to 10.00 higher. Trading and demand moderate.. Highlighted quotes from San Angelo include; 33 head of slaughter lambs averaging 81 lbs brought $286/cwt, 59 head of slaughter lambs weighing 136 pounds brought $160-$198/cwt, 825 head of hair breed slaughter size lambs averaged 55 lbs brought $304-$322/cwt, 96 head of hair breed slaughter lambs weighing 83 pounds brought $286-$310/cwt, 83 head of feeder goats weighing 37lbs brought $430-$460/cwt, 387 head of slaughter goats weighing 53 lbs brought $430-$458/cwt, 11 wethers weighing 127 pounds brought $250-$285/cwt.
https://www.ams.usda.gov/mnreports/ams_2014.pdf
Centennial Livestock Fort Collins Colorado sold 1,409 head of sheep and goats on Wednesday 3/3. That compared to 1,288 head the week prior and 784 head a year ago. Compared to last week: Feeder lambs had no test and Slaughter lambs trade 5.00 higher. Slaughter bucks and ewes traded steady. Slaughter kids traded sharply lower on a light test. Slaughter nannies sold mostly steady. Slaughter bucks and wethers traded steady. Highlighted quotes from Fort Collins; 59 head of feeder lambs weighing 77 lbs brought $237.50-$245/cwt, 59 head of slaughter lambs weighing 109 lbs brought $230-$235/cwt, 130 head of slaughter lambs weighing 115 pounds brought $180-$230/cwt, 38 head of hair breed slaughter lambs weighing 44 lbs brought $295-$320/cwt, 18 head of feeder kids weighing 37 lbs brought $90-$147.50/cwt, 39 head of slaughter goats weighing 56 lbs brought $150-$200/cwt, 5 wethers weighing 107 lbs brought $320-$350/cwt.
https://www.ams.usda.gov/mnreports/ams_1899.pdf
Sioux Falls Regional Livestock in Worthing, South Dakota sold 2,254 head of sheep and goats on Wednesday 3/3. That compared to 2,181 head last week and 1,140 head last year. Traditional slaughter weight lambs 6.00 to 10.00 higher, few instances steady on lambs over 150 lbs. Non traditional weight lambs sold with sharply lower undertones. Slaughter ewes 15.00 to 30.00 lower, except Good 4-5 5.00 to 10.00 lower. Good demand for this large offering of nice quality slaughter lambs and slaughter ewes. Highlighted quotes from Sioux Falls; 31 feeder lambs weighing 45 pounds brought $325/cwt, 155 slaughter lambs weighing 64 pounds brought $290/cwt, 512 head of slaughter lambs weighing 130 pounds brought $167-$188/cwt, 20 feeder goats weighing 38 pounds brought $405/cwt, 17 head of slaughter goats weighing 62 pounds brought $370-$430/cwt, 22 wethers weighing 106 pounds brought $310/cwt.
https://www.ams.usda.gov/mnreports/ams_2016.pdf
Kalona Iowa sale barn sold 1,345 head of sheep and goats on Wednesday 3/3. That compared to 1,027 head the prior week and 0 head a year ago. Compared to last Wednesday slaughter lambs 3.00 lower to 8.00 higher, slaughter ewes firm, slaughter kids 4.00-13.00 higher, slaughter nannies mostly steady. Trade active with good demand for both sheep and goats. Highlighted quotes from Kalona; 50 head of slaughter lambs weighing 63 lbs brought $315-$345/cwt, 23 head of slaughter lambs weighing 87 lbs brought $290-$310/cwt, 85 head head of slaughter lambs weighing 124 pounds brought $179-$275/cwt, 52 head of hair breed slaughter lambs weighing 55 lbs brought $297.50-$333.50/cwt, 55 head of hair breed slaughter lambs weighing 65 pounds brought $287.50-$335, 25 head of feeder goats weighing 46 pounds brought $160-$215/cwt, 28 head slaughter goats weighing 66 pounds brought $240-$270, 7 wethers weighing 135 lbs brought $400-$410/cwt.
https://www.ams.usda.gov/mnreports/ams_2153.pdf
Colby Livestock Colby Kasnas sold close to 671 head of sheep and goats on Thursday 3/4. Talking with sale manager Leeland Wilson he called the market steady to slightly higher on goats and steady to softer on average quality lambs. Highlighted quotes from Colby; 6 head of dorper cross lambs weighing 43 pounds brought $315/cwt, 15 white face lambs weighing 81 pounds brought $265/cwt, 2 head of boer cross kids weighing 63 pounds brought $450/cwt, 17 head of boer cross kids weighing 61 lbs brought $442.50, 52 head of boer cross kids weighing 58 lbs brought $427/cwt, 50 cross bred goats weighing 50 pounds brought $425/cwt, 20 wethers weighing 108 pounds brought $310/cwt.
Mills County Commission Company in Goldthwaite Texas sold 3,422 head of sheep and goats on Thursday 3/4. Light kids were steady to $10 higher, slaughter kids were steady to $5 higher, Slaughter nannies were$5-$10 lower, replacement nannies were steady, wool lambs were $10 lower, Dorper lambs were $10-$20 lower, barbado lambs were $10-$20 lower. Highlighted quotes from the sale include lambs weighing 70-90 pounds brought $250-$310/cwt, boer/ boer spanish cross kids weighing 60-70 pounds brought $325-$445/cwt, 70-90 pounds $275-$370/cwt.
https://www.millscountycommissioncompany.com/our-story
Clay Patton’s Audio report:
