After a downward trend the past few weeks, the 5-area cash trade has bumped back up, moving from $153.14 to 154.58 last week.
Our panel of cattle industry experts predicted an increase to $153.36. This week they predict the price to make moderate increases to $155.90.
Choice boxed beef prices decreased from the previous week’s ending price of $249.69. Wednesday’s price of $248.48 gradually declined to Tuesday’s low of $246.11. The $2.37 decrease moved the 27-day average down slightly to $255.94.
Choice primal rib continues to remain volatile, making significant swings last week. Wednesday’s price of $351.54 dropped to $356.15 by Tuesday and back to $352.01 for Monday’s week high. This has moved the 27-day average up slightly to $350.77.
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 of Poky Feeders.