Feed cattle? Like predicting market trends? Have use for a $100 gift card from Cabelas? Then we want you.
Back in 2007, Drovers CattleNetwork and Merck Animal Health Feedyard Team joined together to create Cattle Trader Center (CTC), a news and market resource for cattlemen and women involved in the cattle-feeding industry. Since its creation, CTC has been tracking and analyzing market trends.
“Its crazy to look back and see fed cattle trading for under $90 seven years ago, but that is the world we operate in these days,” says Matt Morgan, Executive Director of AgriBusiness for Vance Publishing. “No one knows what the limit will be for fed cattle prices as we continue to break records each and every week.”
Naturally, watching the markets is a major component of the cattle business. Because of this, the Monday Market Sentiment (MMS) contest was created to reward cattle-feeders who showed exceptional expertise in the predicting the future of the market.
“The Monday Market Sentiment was created as a tool that would provide the industry an average that would represent the predicted prices by actual cattle feeders,” says Morgan. “Each week cattle feeders will be predicting the market based on the previous week’s 5 area weekly weighted average.”
How to play
Cattle-feeders with 1,000 head of cattle or more on feed can contact Chelsea Mies at email@example.com with their name, contact information and feedyard affiliation. Mies will then give participants access to the 5-area direct slaughter sheets for the five areas of Texas/Oklahoma/New Mexico; Kansas; Nebraska; Colorado; Iowa/Minnesota feedyards.
It is then up to participants to use that information to project which direction the market is headed. All projections must be into Mies each Tuesday by 10 a.m. central time. The submitted prices are then averaged to determine the panel’s estimation as a whole and the individual closest to the actual price will be determined the week’s winner. A MMS recap will then be written, comparing the panel’s average with the actual 5-area price and published in the Cattle Trader Center Newsletter each Tuesday afternoon and Drovers Daily Newsletter each Wednesday morning. Individual estimations will not be published.
For the complete set of rules, click here.