Bad latency problem when recording from a usb turntable?

I’m trying to record some records onto my audacity using a Numark TT usb turntable. I have the preferences to record from the table and come out through my studio monitors. However, when I’m recording the record, it will start making this echoing buzzing sound and ruin the recording. I thought it was just that the record was dirty or being recorded to loudly into audacity to get this distorted buzzing sound, but then i simply touched the needle of the record and it made the echoing buzzing noise. Please help, I really want these records recorded onto my computer and this sound is ruining them. When i press stop the recording while its making the sound, it comes up with the Latency Error message, anyone know how to fix this?

We need more details - what computer and operating system, what version of Audacity? How are the studio monitors connected - from the output of the computer?

– Bill