Coming off Memorial Day weekend, the 5-Area Accumulated Average Cattle Price continues a two-week decline from $160.75 per hundredweight the week ending May 19, to $159.87 per hundredweight last week.
Our panel of cattle industry experts who make up the Monday Market Sentiment were only one cent off with their estimation of $159.88 per hundredweight. This week, the panel projects the 5-Area price to drop slightly to $159.18 per hundredweight.
Choice boxed beef steadily declined throughout last week, kicking off May 20 at $265.59 per hundredweight and declining to $261.07 per hundredweight by May 26. The boxed beef prices hit a low of $260.25 per hundredweight on May 25. The price decline moved the 27-day average to $259.59 per hundredweight.
Choice primal rib picked up last week after a volatile previous week. During the week ending May 19, primal rib prices declined from $387.11 per hundredweight to $383.94 per hundredweight. Last week, primal rib kicked off May 20 at $384.20 per hundredweight and ended May 26 at $385.38 per hundredweight. However, mid-week, prices saw a drop to $382.19 per hundredweight. The price movement set the 27-day average to $382.93 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 Steve Landgraf, Lakin Feedyard.
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.