5-area cash trade made more progress last week, jumping from $154.58 in the previous week to $161.32 last week.
Our panel of cattle industry experts underestimated the amount the price would increase, predicting it would settle at $155.90. This week they increased their estimation to $161.75.
Choice boxed beef prices made steady increases throughout last week, with Tuesday’s $246.11 price ending on Monday’s high of $251.39, settling the 27-day average at $254.27.
Choice primal rib also gained momentum last week, increasing from Tuesday’s $350.67 price to Monday’s high of $356.63. This moved the 27-day average up slightly to $351.19.
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 Chris Hayes, Hayes Feedlot.