Market Outlook

See the the latest Livestock, Dairy, and Poultry Outlook report.

Summary

Lamb/Sheep: Reported prices for lambs have been higher in the second and third quarter of 2021 than they have been in years. Unexpected high prices for lambs lead to increases in the forecasts for lamb prices for the remainder of 2021 and all of 2022. Lamb and mutton imports since quarter 2 of 2021 have been higher than expected. High lamb prices coupled with higher imports suggests that U.S. lamb demand has shifted up compared to last year. Higher domestic demand and prices will encourage increased imports of lamb and mutton.