Prices continue to climb for the 5-area cash cattle market after bouncing back from a month earlier this month. Last week, the 5-area cash cattle price tipped $171.42, up $1.36 from the previous week.
Our panel of cattle industry experts who make up the Monday Market Sentiment group predicted the increase, although underestimated the extent of the jump with a prediction of $170.81. This week our panel upped their estimations, however it’s still lower than last week’s price at $171.06.
Choice boxed beef continues to move forward, hitting a going from Tuesday’s low of $254.29 to Monday’s high of $255.70. The increase moved the 27-day average to $251.52.
Choice primal rib burned up the markets last week, jumping from a high of $394.51 the previous Monday to $403.30 Friday, Nov. 21. The jump in prices moved the 27-day average to $370.79, up $8.91 from the previous week.
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. This week had two winner, they are Pat Knobbe, Knobbe Cattle Company, and Shelby Jones, Ranger Feeders.
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.