Lamb production occurs across the U.S. and in a variety of ecological zones; economic costs of production reflect that diversity. Farm level production costs and risk have increased in the last decade and needs to be described and evaluated including feedstuff costs, management practices, labor costs, predator losses, etc. The lamb industry includes several sectors, but this sector is the foundation and economic aspects require careful documentation and estimation.
Many universities have budgets to assist producers, but they are not standardized and most are updated irregularly. Existing budgets and expertise will be evaluated and adapted. As part of their lamb producer educational programs, all of the participants in this Livestock Marketing Information Center (LMIC) project have participated in developing farm/ranch level budgets in their respective regions.
The results of this project will be useful in educational programs, policy analysis, and applied research for the U.S. lamb industry. Input and output data will be easy to depict graphically and summarize trends.
The objective of this budget was to provide American Sheep Industry Association (ASI) with baseline estimates regarding the on-farm/ranch costs of producing lambs. Best-estimate industry parameters will be used to generate regionally representative budgets. Those budgets will be constructed to facilitate a national aggregation and annual updating.
The budget inputs that will be annually updated are in the table below. Budget updates are expected to occur in February of each year.