After a $4.15 decrease in the previous week, the 5-area cash cattle price is back on the climb, hitting $157.07 last week.
Our panel of cattle industry experts were within $0.50 of nailing the Monday Market Sentiment estimation with a guess of $157.57. This week the panel is predicting another increase, projecting it to be $159.03.
Choice boxed beef prices continue on a two-week skid, seeing a low of $237.66 on Friday and a high of $238.17 on Tuesday. The decrease has moved the 27-day average down $2.91 to $246.38.
Choice primal rib made huge drops last week after a previous volatile trend. Choice primal rib prices saw a $13.11 crash from the previous week’s high to last week’s high of $336.92 on Friday. The loss in momentum moved the 27-day average to $348.54.
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. 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.