A survey of cattle-industry leaders suggests the average price for cash cattle will make a small improvement and will increase by 6 cents to $112.08 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. After three consecutive weeks of gains, cash cattle prices fell 14 cents last week.
Trading has started the week quietly with no bids as of Tuesday afternoon as investors wait to see which way beef demand goes following the holiday weekend. Demand typically peaks on July 4th, and then fades in July and August as the mercury rises. Cattle supplies will remain tight for the foreseeable future and producers are likely to sell more cattle as drought conditions become more severe.
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 Tom Brink, 5 Rivers.