The pork cutout value has been moving seasonally lower since its peak value of $127.50 per cwt in July. Last week the pork cutout was $90.07 per cwt, down 29% from the peak and the lowest weekly value since January. Compared to a year ago the weekly pork cutout value has been tracking about 4% higher and 22% above the five-year average. The typical seasonal pattern for the pork cutout value is to remain fairly level through December before starting an upward trend after the start of the new year.

USDA NASS reports the all milk price fat percentage in Agricultural Prices at the end of every month. Ten months into 2022 the trend of higher milk fat percentage has moved aggressively higher, and in general 2022 has seen higher gains than previous years in this component. The ten-year annual average increase is a 0.8% bump in milk fat percentage nationally. Most years were close to average, but the range over 2012-2021 was down 0.5% to up 1.5%.  The highest value was in 2021, and the previous high was 1.3%.

The U.S. Department of Agriculture (USDA) recently announced a section 32 purchase of American lamb products. The purchase was supported by the American Sheep Industry Association and the National Lamb Feeders Association. According to the USDA Agricultural Marketing Service pre-solicitation notice, products will be distributed to various food nutrition assistance programs. Products that might be included in the purchase could include lamb leg roast, diced lamb, lamb shoulder chops, and lamb loin chops.