As I traveled around the state last spring, the decline in market prices and the resulting producer malaise was apparent in all segments of the industry.
Market volatility is real, but difficult to predict and prevent.
The recent round of record prices brought on by limited domestic supply, has further opened the U.S. market to cheaper Australian and New Zealand lamb. Excessively high prices, while good for U.S. producers in the short term, have switched movers of American lamb to more reasonably priced foreign product. Once this shift occurs it is difficult to refocus the market towards American product. If you think this only affects your pocketbook, think again. Wolverine Packing has also been adversely affected by historically high lamb prices.