Fed cattle prices keep gaining steam, with the 5-area cash cattle price peaking at $157.70, up $4.04 from the previous week.
Our panel of cattle industry experts estimated an increase in price to $154.34. This week they increased their projections to $157.49.
After prices of choice boxed beef caught fire in the previous weeks, the price has leveled off to a high of $248.18. The slight increase moved the 27-day average to $238.43. Choice primal rib prices also cooled after seeing a year-record high in the previous of $388.24 which carried over to Tuesday’s weekly high. Prices slowly declined throughout the week to Monday’s low of $377.81, moving the 27-day average to $369.42.
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 Jim Gillmore, Cattle Empire.
|Data provided by iNet Solutions Group, Inc.|
|All commodity prices delayed 10 minutes.|