The 5-area cash cattle price kept its momentum from last week, jumping from $160.69 in the previous week to $163.93.
Our Monday Market Sentiment panel of cattle industry experts predicted the increase, although fell short at estimating how high the market would go, guessing the MMS to settle on $160.76. This week, they’ve upped their estimate to $164.49.
Choice boxed beef prices bounced back after seeing a high of $241.36 in the previous week. This week choice boxed beef steadily climbed from Tuesday’s low of $243.88 to Monday’s high of $248.31. The increase moved the 27-day average to $244.41.
Choice primal rib prices slowly increased throughout last week, increasing from $343.45 on Tuesday to $347.66 by Friday. However, prices dropped to $344.91 by Monday. The price movement set the 27-day average at $345.07.
Each week the Cattle Trader Center, on behalf of Vance Publishing, awards a $100 gift certificate from Cabela's to the industry leader whose forecast comes closest to the 5-Area cash trade number reported by the USDA. The most recent winner was Paul Woydziak, ILS Beef.
Want to join the expert panel? Email your 5-area cash trade estimate by 10 a.m. CT each Tuesday to firstname.lastname@example.org along with your name and company affiliation.