Market Summary - Week Ending October 22, 2004

Slaughter Prices - Negotiated, Live, wooled and shorn 86.44-92 $/cwt. for 130-150 lbs., dressed, no sales reported.

Slaughter Prices - Formula, 7,908 head (1) at 162.19-190.57 $/cwt. for 70.80 ave. lbs., 12,212 head at 164.10-190.57 $/cwt. for 77.2 ave. lbs.

Cutout value/Net carcass value (2), 191.58 $/cwt.

Carcass Price, Choice and Prime, YG 1-4, 1,471 head at 55-60 lbs. for 175-191 $/cwt., 1,568 head at 60-65 lbs. for 171-191 $/cwt., 4,026 head at 65-75 lbs. for 169-191 $/cwt., 3,508 head at 75-85 lbs. for 172-189 $/cwt., 1,005 head at 85 lbs. and up for 172-177 $/cwt.

Boxed Lamb, weighted average prices ($/cwt.), Trimmed 4" Loins 440.27, Hotel rack (3) 470.61, Leg (trotter off) 212.11, Ground lamb 283.47.

Wool, Price ($/lb.) Clean, Delivered, Grade 70s (19.15-20.59 um) 2.30-2.50, 64s (20.60-22.04 um) 2.20-2.40, 62s (22.05-23.49 um) 1.90-2.20, 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)