After a $1.83 drop in fed cattle prices in the previous week, the 5-area cash cattle price has risen to $156.04.
Our panel of cattle industry experts estimated the price to continue to decline to $154.82. This week, they project an increase to $156.69.
Choice boxed beef prices are down from the previous week, with a low of $248.45 on Friday and a high of $250.53 on Tuesday. The $1.63 decrease moved the 27-day average to $245.25.
Choice primal rib continues to decline, dropping significantly throughout the week. Tuesday saw a high of $371.75 and dropped to $345.50 by Monday. Market high prices were seen towards the first of the month, and the $26.25 tank in the week moved the 27-day average down to $371.60.
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 Steve Landgraf, Lakin Feedyard.