Good Rains
Hold Lambs
Off Market

Heavy rains occurred over a large portion of Texas early this week and practically cut off all feeder lamb movement in the area. Auction market numbers were cut in half and direct movement was almost non-existent.

Small grain fields had been drawing short on moisture and the rain was a real blessing to them as well as to fall pasture vegetation. Grazing conditions have also benefited from recent cold temperatures, which materially reduced armyworm problems.

Lamb carcasses took another hit last week, which affected the live market this week. Carcass prices were off $5 to $165 across the board. Slaughter lambs generally lost around $3-4 where tested. Feeder lambs were mostly steady on lightweights but as much as $4 lower on those weighing over 80 pounds. Slaughter ewes were mostly steady except in Texas, where short numbers boosted prices on those heading for Mexico. San Angelo was as much as $7 higher.

Lamb cutout values fluctuate about as much as the live market, but the margins between cut and wholesale carcass prices at times seem not to be related at all. When carcass prices skyrocketed to $201 in early June, cutout values were above $230. The margin was near $30 but dwindled to only around $12 during the next two months, while the carcass price stayed at $201. Since then the carcass price has fallen $36 and now the margin is back up to a respectable $30. The Wednesday value was $194.23 on lights and $195.58 on heavies, around $35 less than the high time.

Feeder lambs in San Angelo weighing 40-60 pounds brought $91-94, 60-80 pounds $85-92.50, 80-90 pounds $80.50-85 and 90-95 pounds $75-85. Fredericksburg lambs weighing 85-90 pounds were mostly $85-88, and Goldthwaite had 65-80 pound lambs $75-82. Junction lambs were $83.50-90.50 on 50-85 pounds. Midwest markets quoted 60-80 pound feeders $77-78.25 and 80-100 pounds $75-78. Billings moved 60-80 pound lambs $92.50-94.25, 80-90 pounds $88.50-93.25, 90-100 pounds $86.50-90 and 100-115 pounds $81.25-81.75.

Feeder lambs moving direct in West Texas were limited, a few sales made at $85. Recent sales in Colorado had 110-115 pound feeders at $83-85 and 80-100 pounds $85.50-86.50. Montana sold feeders weighing 100 pounds at $85 and Idaho had similar weights at the same rate. Oregon quoted 80-90 pound lambs $85-86. Utah contracted 90-100 pound lambs for September 1997 delivery at $90.

A few slaughter lambs in San Angelo weighing 100-130 pounds brought $74-85, fat at Goldthwaite $78.50-80. Midwest markets had fat lambs $75-84.35, and Billings moved a few fats for $75-79.50. Virginia slaughter lambs made $72.50-77.

Fat lambs moving direct from West Texas feedlots to packers sold at $87.50. Recent sales in Colorado were $86-90, and California had fat lambs moving direct at $85-90 on 120-145 pounders. Midwest direct lambs were $79.50-81.

Fleshy slaughter ewes in San Angelo brought $32-48, Midwest prices $18-31.25. In Billings ewes were $23.50-27.

Babytooth stock ewes in San Angelo made $60-65 per head.