A survey of cattle-industry leaders suggests the average price for cash cattle will fall $0.12 to $105.91 per cwt this week.
The Monday Market Sentiment is a forecast of the upcoming weekly cash trade (5-Area weighted average price) prices reported by the USDA. Cash cattle traded higher for the first time in six weeks, increasing by $1.29.
Last week the USDA announced the cash trade for the week ending June 12th was $106.03, a 14 percent increase from last year.
Industry experts had mixed predictions, but collectively say last week’s trade was a brief jump in prices and anticipate the cash market to move lower. Higher boxed beef prices supported cattle trade but worries about demand in a sluggish economy remain. Packer margins also continue to decline.
Each week Drovers CattleNetwork 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.