News
Economist anticipates stronger lamb prices this year
A livestock economist expects higher market lamb prices in 2021.
Texas A&M’s David Anderson says he can make a pretty fair argument for strong demand for lamb. “That, on top of basically flat supplies in the coming year – -which argues for better prices,” he says. He told attendees of the American Sheep Industry’s virtual annual meeting that economic recovery from the coronavirus pandemic will be a factor.
And while there are some sectors – like the hotel, restaurant, and institutional (HRI) are struggling, Anderson says that isn’t the case elsewhere. “In the rest of the economy, there are segments that have boomed,” he says. “And that’s where that savings is. Which gives us, I think, the potential to really jump start some economic growth as things open and we get past this.”
And with global prices for lamb on the rise, it makes American lamb even more attractive, which Andersons says could also help drive the prices of American lamb higher.
