Monday Market Sentiment: Grilling season can’t lift beef prices

A survey of cattle-industry leaders suggests the average price for cash cattle will continue its recent decline, down another 91 cents to $120.99 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. This week’s prices decreased for the second consecutive week and showed the largest one-week fall since the first week of December. Last week the USDA announced that cash trade for the week was 121.90, a $3.78 decrease from the previous week.

Public perception of lean finely textured beef has damaged beef demand which would normally start picking up with the start of outdoor grilling season. Choice beef prices are down about $15/cwt in the last month with a third of the fall in the last week. Higher carcass weights and a high supply of finished cattle have also moved cattle prices lower recently.

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 Joe Kovanda, Bartlett Cattle.

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