The American Lamb Board announced the introduction of a new monthly lamb market summary to provide the industry with increased data and analysis. The board engaged the American Sheep Industry Association to prepare the monthly Lamb Market Summary. The report will include sheep and lamb slaughter, lamb imports, sheep and lamb prices, and a market forecast. An economic overview of the consumer market will also be included, which influences the food choices in the U.S. The July summary points out that “consumer prices continued to rise in June, with the Consumer Price Index posting a higher than expected 9.1 percent year-over-year increase. High fuel prices will likely push food costs higher. Consumers appear to be managing food price inflation for now, but expectations continue for more inflation, and an impending economic slowdown will challenge consumer demand. The Lamb Market Weekly Summary, USDA Market Reports, and year-in-review reports can be found at lambresourcecenter.com.
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