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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