President Clint Krebs penned a letter to U.S. Department of Agriculture (USDA) Secretary Tom Vilsack acknowledging the agencies involvement in the rise of lamb market prices.
"The market for feeder lambs rose 30 cents a pound in September to at least break-even levels for sheep producers," announced Krebs. "The timing could not have been better with up to 40 percent of all lambs being marketed in this eight-week period."
Lamb feeders and lamb meat companies confirmed that the driving force for these higher prices can be attributed to the section 32 purchase of lamb meat for food banks. The market has been in a crisis situation since late 2011 when record high prices collided with consumer resistance and with the highest feed costs in many years.
Additionally, recognition was given for the smooth implementation of the first assessment rate increase of the American Lamb Checkoff since its inception in 2002.
"The industry is pleased to be funding promotion and research in an effort to build long-term plans to avoid a repeat of the price volatility of the past three years," concluded Krebs.