This week the 5-Area Accumulated Average Cattle Price continues to decline from $159.87 per hundredweight the week ending May 26, to $159.43 per hundredweight last week.
Our panel of cattle industry experts who make up the Monday Market Sentiment were a little low with their estimation of $159.43 per hundredweight. This week, the panel projects the 5-Area price to drop slightly to $159.98 per hundredweight.
Choice boxed beef steadily declined throughout last week, kicking off May 26 at $261.07 per hundredweight and declining to $254.28 per hundredweight by June 1. The boxed beef prices had a high of $261.11 per hundredweight on May 27. The price decline moved the 27-day average to $259.33 per hundredweight.
Choice primal rib saw a hard drop after the holiday weekend. Last week, primal rib kicked off May 26 at $385.38 per hundredweight and ended June 1 at $376.40 per hundredweight. May 27 saw the largest drop of $4.70 to $380.68. The price movement set the 27-day average to $381.95. per hundredweight.
Each week the Cattle Trader Center, on behalf of Merck Animal Health, 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 Jerry Kuckelman, ILS Beef.
Want to join the expert panel? Email your 5-area cash trade estimate by 10 a.m. CT each Tuesday to firstname.lastname@example.org along with your name and company affiliation.