Farm Progress America, May 10, 2024

Mike Pearson takes a look at the sheep industry in the United States.

May 10, 2024

Mike Pearson tells listeners about the state of the sheep industry in the United States and how it's changing.

The export business has been busy and has been a volatile market for producers.

In the domestic sheep market, it's had the same issues as beef. Producers have struggled through drought, rising input costs and a lack of young producers coming into the business.

Like the beef industry, the sheep industry is contracting. The smallest lamb crop ever was produced in 2023 with 3 million born, according to the American Sheep Industry.

There are 34 percent fewer animals than in 2022 which has garnered higher retail prices.

In February, the lamb exports increased and so did the value of exports which climbed 18 percent year over year.

The one thing that is not in a bright spot for sheep producers is the wool market. Demand has declined and so has the prices.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.

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