After six weeks of USDA’s 5-Area Accumulated Average Cattle Price gradually climbing to a high of $167.59 per hundredweight during the week ending April 7, cash cattle prices declined last week to $164.44 per hundredweight.
The panel of cattle industry experts who make up the Monday Market Sentiment predicted the decrease, however only estimating it to drop to $166.98 per hundredweight. This week, the panel collectively is projecting another decrease to $163.14 per hundredweight.
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Choice boxed beef prices continue to pick up steam from the previous week, ending on $256.98 per hundredweight on April 7. Boxed beef prices quickly jumped to $259.14 per hundredweight on April 8, however, declined to $256.51 per hundredweight on April 10. The strong price increases from the previous weeks helped push the 27-day average to $ 250.90 per hundredweight.
Choice primal rib carried over a strong market from the previous week, ending April 7 on $388.56 per hundredweight, and climbing to $390.44 per hundredweight by April 13. This moved the 27-day average to $372.71 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 Kyle Williams, Lubbock Feeders.
Want to join the expert panel? Email your 5-area cash trade estimate by 10 a.m. CT each Tuesday to email@example.com along with your name and company affiliation.
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|All commodity prices delayed 10 minutes.|