After seeing slight increases in previous weeks the 5-area cash trade tipped last week, dropping from $161.05 to $156.90.
Our panel of cattle industry experts predicated only a short drop to $160.58, not underestimating the markets volatility. This week their predictions are lower than previous estimates, but higher than last week’s 5-area cash trade price, settling at $157.57.
Choice boxed beef prices were down from the previous week, steadily dropping as the week went on. Tuesday’s high of $247.64 ended on Monday’s low of $243.71. The drop moved the 27-day average down from $251.97 in the previous week to $249.29 last week.
Choice primal rib was unsteady last week, fluctuating from Thursday’s high of $350.03 to Monday’s low of $346.56. The price changes have moved the 27-day average to $351.52.
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 Terry Ryan, JBS Five Rivers. 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.