Last week was ugly for cattle feeders. The five area cash cattle trade was $154.77 last week and was down over $ 5 dollars from the previous week. This market is almost impossible to predict. At the close on Monday October live cattle futures were up $0.80 and closed at $148.55. At the time of this report on Tuesday futures were down $1.00. The roller coaster ride never ends. High feeder cattle prices are causing several feedyards to cut back on their inventory. Smaller showlists and the bearish corn report should improve cash cattle prices a little this week.
Our panel of cattle industry experts project the market this week to increase $0.26 to $155.03. The Monday Market Sentiment has tended to be pretty conservative in relation to the 5 area cattle trade. Last week the group predicted prices to fall $2.16 not many people saw the $5 hiccup coming.
Each week the Cattle Trader Center, on behalf of Merck Animal Health, 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.