For the week ending November 25th the Midwest sheep and goat market was thinly traded as would be expected for Thanksgiving week. I hope you had a Happy Thanksgiving this past week. There were only 2 sales in our typical trade area this week. With that the market could be called fully steady. Looking at a few sales last week it was a split week with the lighter weight slaughter lambs preferred by the ethnic market softer in the North and all lamb classes higher in the South. Replacement quality young ewes were popular again in Sioux Falls last week. Hopefully a good sign that herd retention and possible growth could be starting in late 2023. As for the goat complex the feeder and slaughter goats seem to be steady once again week over week. The doe market though feels that it is picking up once again. Looking outside the sheep and goat market the cattle market has softened considerably the past month. Albeit the market was expected to encounter some pressure sooner rather than later as it pushed into record high territory through the late summer and fall. The good news is the sheep and goat market don’t appear to be watching the cattle market too closely.
At the retail level last week shops were pushing lamb for Thanksgiving as the USDA retail activity report showed lamb cuts retail activity was up 256.76%. Roast ads were the most aggressively pushed product up 268.08% week over week. Chop ads were up 152.38%. Lamb features offered more ad space for Racks, Loin Chops and Legs. Beef and chicken retail reports showed significantly less retail push than lamb for the week leading up to Thanksgiving.
For upcoming holidays that may have an impact on the market. Hanukkah December 7-15. Looking into 2024 there is Chinese new year on February 7th. Then Ramadan is March 10-April 8. Passover is April 22-30 and Easter is April 17th.
Highlighted quotes this week include Centennial Livestock selling 43 head of 115 lb slaughter wool lambs for $187/cwt or $215/hd average. The upper end of the draft brought $215/cwt or $247/hd. Centennial also sold 27 head of 73 lb slaughter hair lambs for $220/cwt or $161/hd. Centennial also sold 4 head of 165 lb goat wethers for $233/cwt or $385/hd.
