Market Summary - Week Ending November 12, 2004

Slaughter Prices - Negotiated, Live, wooled and shorn 87-92 $/cwt. for 125-155 lbs., dressed, no sales reported.

Slaughter Prices - Formula, 6,054 head (1) at 163.34-183.71 $/cwt. for 71.20 ave. lbs., 13,926 head at 165.49-182 $/cwt. for 77.40 ave. lbs.

Cutout value/Net carcass value (2), 195.51 $/cwt.

Carcass Price, Choice and Prime, YG 1-4, 8,776 head at 55-85 lbs. for 172-194 $/cwt., 671 head at 85 lbs. and up for 172-177 $/cwt.

Boxed Lamb, weighted average prices ($/cwt.), Trimmed 4" Loins 418.05, Hotel rack (3) 453.82, Leg (trotter off) 234.16, Ground lamb 283.39.

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)