By Scout Nelson
The United States Department of Agriculture's National Agricultural Statistics Service recently revealed a 2% decrease in the nation's sheep and lamb inventory, totaling 5.03 million as of January. This decline was notably seen across North Dakota, Minnesota, and South Dakota, with respective decreases of 2%, 3%, and 9%.
Travis Hoffman, a sheep specialist with NDSU Extension and UMN Extension, highlighted the potential for growth in the US lamb market. Despite a per capita consumption of 1.1 pounds in 2023, there's an opportunity to expand both domestically and internationally. Prices for feeder and slaughter lambs are expected to rise between 3% to 7% in the coming years.
The inventory of breeding ewes and rams fell by 2%, dropping to 3.67 million head. This decrease is anticipated to result in a 1% to 4% reduction in lamb production in 2024 and 2025. Ranking states, South Dakota, Minnesota, and North Dakota hold significant positions in breeding sheep numbers nationwide.
Despite a 2% decrease in the 2023 lamb crop, improvements in production efficiency were noted, especially in North Dakota and Minnesota, showcasing enhanced management practices. The wool market also saw shifts, with a total production of 22.7 million pounds, and the pricing and value of wool varying significantly by region and wool type.
The outlook for the lamb market remains positive, with high prices at the start of the year and potential profitability for producers. This scenario presents an encouraging opportunity for young producers to enter the market, especially with the current low supply in the US.
This report underscores the dynamic nature of the sheep industry, highlighting the challenges and opportunities within the sector, from market prices to production efficiencies and the strategic positioning of states in the national landscape.
Photo Credit - gettyimages-ppampicture
Categories: North Dakota, Livestock, Goats & Sheep