LRP-Lamb Market Report 17 June 2013

The LRP-Lamb price index ended the week at $110.42 per cwt. This is down $1.69 from last week’s index of $112.11.

LRP-Lamb insurance price forecasts expiring June 14, 2013 were as follows:

Date Offered

Policy

Expected Ending Value

Actual % of Expected

3/18/2013

13-week

$91.23

121.0%

1/28/2013

20-week

$103.58

106.6%

12/17/2012

26-week

$116.55

94.7%

9/17/2012

39-week

$161.85

68.2%

The effective floor prices offered by LRP-Lamb coverage for expiring policies were as follows:

     

Effective Floor Price (Coverage Price – Premium)

     

(Premium per cwt.)

Date Offered

Policy

Expected Ending Value

95%

90%

85%

80%

3/18/2013

13-week

$91.23

$84.529

$81.308

$77.296

$72.910

     

(2.141)

(0.802)

(0.254)

(0.070)

1/28/2013

20-week

$103.58

94.671

91.448

87.299

82.585

     

(3.729)

(1.772)

(0.741)

(0.275)

12/17/2012

26-week

$116.55

106.261

102.524

97.920

92.730

     

(4.459)

(2.376)

(1.150)

(0.510)

9/17/2012

39-week

$161.85

145.109

140.339

134.490

127.797

     

(8.651)

(5.321)

(3.080)

(1.683)

The expiring 39-week policies provided an indemnity payment at all four of the offered coverage levels 95%, 90%, 85%, and 80% with the effective floor prices in effect and providing protection ranging from $34.689 per cwt. to $17.377 per cwt. after premium payment deductions.

The expiring 26-week policy provided a small indemnity of $0.30 per cwt. at the 95% coverage level but not enough to cover the premium payment.

 

LRP-Lamb price insurance coverage offered on 17 June 2013 is as follows:

Date Offered: 17 June 2013

Effective Floor Price (Coverage Price – Premium)

     

(Premium per cwt.)

Policy

End Date

Expected Ending Value

95%

90%

85%

80%

13-week

9/16/2013

$96.56

$89.464

$86.051

$81.811

$77.176

     

(2.266)

(0.849)

(0.269)

(0.074)

20-week

11/4/2013

$97.24

88.879

85.856

81.696

77.532

     

(3.501)

(1.664)

(0.696)

(0.258)

26-week

12/16/2013

$89.74

81.817

78.941

75.394

71.397

     

(3.433)

(1.829)

(0.886)

(0.393)

39-week

3/17/2014

$116.62

104.557

101.126

96.910

92.087

     

(6.233)

(3.834)

(2.220)

(1.213)

 

Expected Ending Value for 9/16/2013 is $96.56, up $4.83 from last week’s expected ending value for 9/9/2013.

Expected Ending Value for 11/4/2013 is $97.24, up $7.18 from last week’s expected ending value for 10/28/2013.

Expected Ending Value for 12/16/2013 is $89.74, up $8.32 from last week’s expected ending value for 12/9/2013.

Expected Ending Value for 3/17/2014 is $116.62, up $6.16 from last week’s expected ending value for 3/10/2014.

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