July proved a tough month for participants in “Monday Market Sentiment” (MMS). Each week Cattle Trader Center (cattletradercenter.com), sponsored by Merck Animal Health, solicits entries for MMS, a contest conducted online where participants are asked to pick the weekly market price for fed cattle. The entry closest to USDA’s weekly five-area weighted reported fed-cattle prices wins a $100 Cabela’s gift card.
The five-area weighted fed-cattle price declined during most weeks in June and July. Early June saw the greatest decline, with prices falling $1.91 and $2.02 per hundredweight each of the first two weeks. Subsequent weeks saw prices steady to slightly lower. The market traded in the $119 to $120 range for a four-week period.
Entrants to the MMS were off by only a few pennies, forecasting trade for the week before and the week of July 4. During the past seven weeks ending July 19, there was only one week (June 28) where the five-area trade was higher than the MMS; the panel expected the cash trade to fall 38 cents, compared to actual losses of 31 cents.
Weekly winners of the MMS:
June 7 – Matt Selee, Cattle Empire
June 14 – Wayne Lee, Cattle Empire
June 21 – Eric McMillan, Cattle Empire
June 28 – Joe Morgan, Poky Feeders
July 5 – Joe Morgan, Poky Feeders
July 12 – Mike Binns, Brookover Cattle
July 19 – Ryan Loseke, Loseke Feedyards
Contest entries may be submitted between noon and midnight on Mondays by emailing your cash-market price quote (live FOB steers and heifers combined price per hundredweight) to bwessler@ vancepublishing.com with “Monday Market Sentiment” in the subject line.
For more information and official rules, go to cattletradercenter.com