Monday Market Sentiment: Cash cattle prices increase

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Cash cattle prices saw an increase from the previous week, moving the 5-area cash cattle price up to $147.80.

The Monday Market Sentiment panel of cattle industry experts average projection was for the price to decline to $145.61. This week, they project the 5-area cash cattle price to settle at $145.35.

Choice boxed beef prices saw strength early in the previous week, topping out at $234.36 36 on Tuesday, but dropped down to $228.90 on Monday. The 27-day average continues to decline, dropping to $229.32. Choice primal rib prices continue to grow hotter with the warming weather. They saw a high of $346.47 early in the week, up $8.84 from the previous week’s high, moving the 27-day average up to $332.20.

Estimated cattle slaughter numbers are climbing, averaging around 120,000 head all week. The 118,000 head low on Friday is significantly higher than the 103,000 head low from the previous week. This set the 27-day average slightly higher at 113,963 head.

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 Chris Hayes of Hayes Feed Yard.


REPORT TODAY YESTERDAY DIFFERENCE
  Boxed Beef - Choice 228.90 228.38 0.52
 
BOXED BEEF - CHOICE 10 DAYS 27 DAYS THIS YEAR
Average 231.87 229.32 226.75
High 234.36 234.46 244.06
Low 228.38 222.12 200.55
 
Chart
 

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


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