After taking a $5.00 hit in the previous week to $154.77, the 5-area cash trade has slipped further down to $153.14 last week.
Our panel of cattle industry experts predicted the price to increase to $155.03. This week they predict the 5-area cash trade to settle at $153.36.
For the week ending August 11, boxed beef prices were pushing $252.17. Last week, they topped out at Tuesday’s high of $252.19, slowly declining to Monday’s low of $249.69. The week’s price spread moved the 27-day average to $256.86.
After a fairly unpredictable past few weeks, choice primal rib leveled out last week, seeing Tuesday’s low of $348.37 and Thursday’s high of $352.35. This moved the 27-day average to $349.81.
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 Wesley Davis, JBS.
|Data provided by iNet Solutions Group, Inc.|
|All commodity prices delayed 10 minutes.|