New Lamb Market Monthly Summary Released
ALB has engaged the American Sheep Industry Association to prepare the monthly Lamb Market Summary. The report includes:
-Sheep and lamb slaughter;
-Sheep and lamb prices;
An economic overview of the consumer market is also included, which influences food choices in the United States.
The July summary says, “Consumer prices continued to rise in June with the Consumer Price Index posting a higher than expected 9.1 percent 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 percent 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.