Monday Market Sentiment: High beef prices push cattle lower

A survey of cattle-industry leaders suggests the average price for cash cattle will fall for a second consecutive week after the market experienced a second large decline in April. Market experts predict the cash market will decrease 60 cents to $119.20 per cwt this week.

The Monday Market Sentiment is a forecast of the upcoming weekly cash trade (5-Area weighted average price) prices reported by the USDA. Last week prices fell $2.72. The USDA announced that cash trade for the week was $119.80. The triple digit loss was the second this month, the first coming on April 6^th when cash cattle prices dropped 3.78.

Expensive beef prices have limited demand at the start of grilling season. Experts see the cattle market moving lower with retailers hesitant to buy beef at current prices ahead of Memorial Day. Last week’s discovery of BSE in a California dairy cow may also contribute to cattle losses as the USDA investigates the cow’s herd mates.

Cash trade is limited this week without packer bids or prices offered from feedlots.

Each week Drovers CattleNetwork 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, Poky Feeders.

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