Monday Market Sentiment: Fed cattle prices weaken

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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.


REPORT TODAY YESTERDAY DIFFERENCE
  Boxed Beef - Choice 251.14 251.79 -0.65
 
BOXED BEEF - CHOICE 10 DAYS 27 DAYS THIS YEAR
Average 249.50 241.84 230.13
High 252.17 252.17 252.17
Low 247.28 230.86 200.55
 
Chart
 

Data provided by iNet Solutions Group, Inc.
All commodity prices delayed 10 minutes.


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