After a slight drop in the previous week, 5-area cash cattle rallied, jumping from $163.83 to $169.04.
Our panel of cattle industry experts that make up the Monday Market Sentiment panel projected the increase, however were short in their estimations at setting the MMS on $165.24. This week, the panel upped their previous projections, predicting the price to hit $169.62.
Choice boxed beef prices remained steady from the previous week, seeing a high of $251 on Tuesday and a low of $247.41 on Friday. This price moved the 27-day average slightly up to $244.53.
Choice primal rib had another uneven week, jumping from Tuesday’s low of $351.29 to Wednesday’s high of $356.53, settling on $352.85 at the end of Monday. The price movement placed the 27-day average at $335.12.
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 Joe Kovanda, Bartlett Cattle.
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.