After a two-week climb, the 5-area cash cattle market started to decline last week, dropping $3.07 from the previous week to $163.04.
Our panel of cattle industry experts had a tough week keeping up with a volatile market, estimating the 5-area cash cattle market to hit $167.38. This week, they’ve collectively dropped their bid, projecting the price to hit $162.94.
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Choice boxed beef made huge leaps last week, jumping from a high of $249.36 from the previous midweek to $263.81 by Wednesday, Jan. 14. However, the price began to taper off, dropping to $259.49 by Monday, Jan. 19. The price increases also boosted the 27-day average, setting it at $249.81.
Choice primal rib continues to remain volatile. After settling to $332 on Friday, Jan. 9, it jumped back to $344.27 as a high on Wednesday, Jan. 14. By Monday, Jan. 19, choice primal rib prices had dropped back to $338.54. The price movement set the 27-day average at $348.96.
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 winners were Jim Gilmore, Cattle Empire, and Tracy Brunner, Cow Camp.
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.