Lower corn prices and rising wholesale beef prices encourage the cattle industry this week with presumptions of lighter placements in this Friday’s USDA cattle-on-feed report also weighing on the market. The Monday Market Sentiment panel expects steady gains to continue for the third consecutive week. This week industry professionals forecast an increase of $1.11 in the average price for cash cattle, setting the Monday Market Sentiment at $125.37.

The Monday Market Sentiment is a forecast of the upcoming weekly cash trade (5-Area weighted average price) prices reported by the USDA. This week’s prices improved steadily. Last week the USDA announced that cash trade for the week ending October 12th was 124.26, a 67 cent increase above the previous week.

The USDA report at the end of the week is expected to show another downturn in cattle placements. Traders are expecting a strong cash market given two consecutive weeks of gains and tight show lists compared to the previous week.

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 Jeff Cox, Northwest Cattle Feeders.

Join our team of industry professionals to predict this week's cash trade. Click here for contest rules. Click here to register.