GRAND FORKS, N.D. — The U.S. sheep industry is optimistic that it's on a long-term upswing. But the industry faces challenges for at least the next 18 months, a new report says.
Slaughter lamb prices will struggle through 2017 because of big stocks of frozen meat in storage and competition from relatively inexpensive imports, according to a report from the Livestock Marketing Information Center, a joint effort of state extension services and the U.S. Department of Agriculture.
The report — "Sheep and Lamb Market: 2015 Review and 2016 Outlook," which takes a preliminary look at 2017, too — forecasts that average annual slaughter lamb prices will be 7 percent to 9 percent lower this year than in 2015. Prices aren't expected to rally in 2017.
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