USDA’s 5-Area Accumulated Average Cattle Price saw an increase of 75 cents last week, hitting $158.40 per hundredweight and breaking a two-week skid.
Our panel of cattle industry markets who make up the Monday Market Sentiment were $1.15 per hundredweight too high with a projection of $159.55 per hundredweight. This week the panel estimates cash cattle to hold steady, with a price of $159.16 per hundredweight.
Choice boxed beef saw gradual increases throughout the week, starting Feb. 24 at $244.24 per hundredweight, and ending March 2 at $248.67 per hundredweight. This is above the 27-day average of $243.03 per hundredweight.
Choice primal rib had a steady week of gains, pushing the 27-day average to $332.30 per hundredweight. Prices started at $341.75 per hundredweight on Feb. 24, making $3 jumps the following two days. By March 2, primal rib prices were at $351.10 per hundredweight.
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 Ryan Loseke, Loseke Feedyards.
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.