Welcome to Mountain State Lamb

Earl and Jewel Reed enjoy the leg of lamb banquet dinner at the 7th Annual Meeting

Annual Meeting a Success!

The economy did not stop 100 Co-op producers and their families from making the trip to beautiful Alpine, WY for the 7th Annual Meeting of Mountain States Lamb Cooperative.

The Wednesday night welcoming reception, sponsored by JBS Swift Lamb, saw a record attendance. Thursday morning members received financial reports on the Co-op and MSR. Dr. Dennis Stiffler, CEO, Mountain States Rosen, gave a detailed overview of MSR’s operating and marketing activities. Mike Wheeler, CEO, Nugget International updated the group on the global pelt market and outlook. Later that evening, attendees enjoyed a social hour sponsored by Nugget International and a lamb sirloin BBQ on the banks of the Snake River. Some of the more energetic members enjoyed an entertaining game of volleyball. Friday, the group toured the Grey’s River area, viewing Fred Robert’s sheep grazing forest allotments.

We want to send a special THANK YOU to the following sponsors for helping keep the cost to our members down and making our meeting a successful and enjoyable event:

Double J Feeders
Houghton Hampshires
Mountain States Rosen
Nugget International
Powell Lamb Pool
JBS Swift Lamb

June and July Top Lambs

The top lambs in June were marketed by Harlan Bros. Feeders of Kaycee, Wyoming. Fed by Doug Heny, this load had 78% yield grade 2’s and 21% yield grade 3’s. They earned an average of $7.74 per head on the grid.

In July, the top lambs were marketed by Helle Livestock from Dillion, Montana. The load garnered an average grid premium of $8.06 per head by grading 90% yield grade 2’s and 10% yield grade 3’s. Double J Feeders fed the load.

MSLC Implements New Grid

Below is the new grid adopted by MSLC effective for meat marketed August 1. Because money has been added to the base price the total return to the producer should be comparable to the previous grid.

MSLC Grid

	Y2	Y3	Y4	Y5
55dn	8	3	-10	-50
55-65	8	3	-10	-50
65-75	8	3	-10	-50
75-85	8	3	-10	-50
85up	8	3	-10	-50

FCIC Makes Decision on LRP Lamb

Reprinted from Sheep Industry News August 2009

(August 1, 2009) The Federal Crop Insurance Corporation (FCIC) approved modifications to the Livestock Risk Protection-Lamb (LRP-Lamb) insurance product that were submitted by the Sheep Venture Co. The U.S. Department of Agriculture’s Risk Management Agency (RMA) is in charge of implementing these changes.

“The approved changes are crucial for the continuation of LRP-Lamb insurance,” comments Glen Fisher, president of the American Sheep Industry Association (ASI). “We are pleased the FCIC board directed RMA to move forward quickly so that LRP-Lamb can again be available to producers and feeders as a tool to manage unexpected declines in market lamb prices.”

The changes recommended include:

• a move from utilizing the Agricultural Marketing Service’s (AMS) “formula live” price series to using the AMS “formula carcass” price series converted to a live basis by use of the dressing percent to establish coverage;
• the addition of a 20-week endorsement to better fit the production and marketing cycles of range and inter-mountain operations;
• the expansion of the LRP-Lamb pilot states to include Washington; and
• changing the limit for an individual Specific Coverage Endorsement
from 7,000 head to 2,000 head beginning with the 2010 crop year.

The FCIC Board recommended that RMA craft the policy changes as quickly as possible in an effort to allow for the resumption of the sale of LRP-Lamb at the earliest possible date. “ASI hopes to see the sales of LRP-Lamb resume around the first of August,” Fisher states. “I encourage all producers to take advantage of LRP-Lamb once it is on the market. Not only will purchasing the product protect your lambs it will also help ensure LRP-Lamb will continue to be offered in the future.”

Book Value of Shares

At our Annual Meeting members asked for the book value of the Class A “delivery” shares. Based on the 2008 Consolidated financials, the book value of an “A” share in Mountain States Lamb Cooperative, including the average retained patronage, is $34.54. C shares also have a $34.54 book value.
B Shares, which return an 8% annual dividend, retain a par value of $20. B shares may be converted to A shares upon request.

Pool Share Fees

Effective September 1, the Fee for leasing a share from the Pool Lease will increase to $1.50. Individual producers can still negotiate lease agreements between themselves for whatever price they can agree on, but will need to complete a lease agreement and submit it to the office.