The cash cattle market recovered most of the previous week’s losses by gaining $2.19 last week, yet industry experts predict the market to fall by almost a dollar in this week’s trading. This week’s survey predicts a decrease of 97 cents to $123.97 per cwt.
The Monday Market Sentiment is a forecast of the upcoming weekly cash trade (5-Area weighted average price) prices reported by the USDA. Cash trade went against the Monday Market Sentiment by gaining $2.19 in the shortened holiday week.
Choice boxed beef cutout values increased $1.11 from the previous week and the Choice-Select spread gained $2.38 to $19.19 from last week’s close. Cow-calf operations are selling calves and yearlings at record prices with strong buyer demand and light supplies.
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 Morgan, Poky Feeders.