After a multi-week hot streak, fed cattle prices have weakened. The 5-area cash cattle price of $155.87 is down $1.83 from the previous week.
Our panel of cattle industry experts had estimated the price to hit $157.49. This week they project the price to be lower from their previous guess, settling at $154.82.
Last week, choice boxed beef prices began to cool after hitting market-year highs. This week prices hit a high of $252.17 on Tuesday before settling to Monday’s $251.14. The $3.99 increase moved the 27-day average up to $241.84.
Choice primal rib prices continued to steadily decline throughout the week, dropping $6.43 from Tuesday’s high of $379.15 to Monday’s low of $372.72. The drop moved the 27-day average to $372.96.
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 Wayne Lee, Cattle Empire.