The 5-area cash cattle price continues to fall after a rally to $169.04 during the week of Oct. 21. After dropping to $167.52 during the week of Oct. 28, cash cattle settled to $166.71 last week.
Our panel of Monday Market Sentiment cattle industry experts were almost right on the money with their predictions of cash cattle dropping to $166.62. This week the panel is optimistic, estimating the price to rise to $167.40.
Choice boxed beef prices were slightly weaker than the previous week, hitting a high of $251. 24 on Wednesday, but dropping to the week low of $249.11 by Friday. This moved the 27-day average to $248.83.
Choice primal rib made huge leaps during the week of Nov. 4, with a low of $359.17 on Tuesday, hitting Thursday’s high of $373.50. The price settled to $371.43 by the end of the market sentiment on Monday. This moved the 27-day average to $353.87.
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 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.