Market Summary - Week Ending October 15, 2004

Slaughter Prices - Negotiated, Live, wooled and shorn 84.44-92.45 $/cwt. for 130-150 lbs., dressed, no sales reported.

Slaughter Prices - Formula, 7,006 head (1) at 163.82-190.57 $/cwt. for 70.50 ave. lbs., 11,162 head at 165.22-187.70 $/cwt. for 77.7 ave. lbs.

Cutout value/Net carcass value (2), 189.88 $/cwt.

Carcass Price, Choice and Prime, YG 1-4, 1,502 head at 55-60 lbs. for 171-191 $/cwt., 10,219 head at 60-85 lbs. for 168-191 $/cwt., 1,020 head at 85 lbs. and up for 169-180 $/cwt.

Boxed Lamb, weighted average prices ($/cwt.), Trimmed 4" Loins 438.56, Hotel rack (3) 470.48, Leg (trotter off) 207.67, Ground lamb 283.30.

Wool, Price ($/lb.) Clean, Delivered, Grade 70s (19.15-20.59 um) 2.40-2.60, 64s (20.60-22.04 um) 2.30-2.50, 62s (22.05-23.49 um) 2.00-2.30, 60s (23.50-24.94 um) 1.70-1.90, 58s (24.95-26.39 um) 1.50-1.70.

(1) Prices reported for the two weight categories of the largest volume traded.

(2) The cutout value is the same as a net carcass value. It is a composite value that sums the value of the respective lamb cuts multiplied by their weights. It is also the gross carcass value less processing and packaging costs.

(3) Average of light, medium and heavy 8-Rib Rack.

(Source: USDA/Agricultural Marketing Service)