The 5-Area Accumulated Average Cattle Price dropped yet again this week, moving from $101.12 on October 10 to $97.57 on October 17.
The panel of cattle industry exeprts who make up our Monday Market Sentiment guessed high last week with an average prediction of $102.12 per hundredweight. This week, the panel still ran high with an average guess of $100.91 per hundredweight.
Choice boxed beef saw a decrease through the week, starting October 13 at $181.60 per hundredweight, and ending October 19 on $178.44 per hundredweight. The decrease moved the 27-day average to $185.13 per hundredweight.
Each week Beef Market Central, 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 Mike Drinnin, Drinnin Feedlots, Inc.