The 5-Area Accumulated Average Cattle Price climbed up quite a bit this week, moving from $99.41 on October 24 to $104.24 on October 31.
The panel of cattle industry experts who make up our Monday Market Sentiment came under in their guess last week with an average prediction of $98.64 per hundredweight. This week, the panel came in under again with an average guess of $102.90 per hundredweight.
Choice boxed beef has seen an increase throughout the week, starting October 28 at $183.11 per hundredweight, and ending Nov 3 on $188.74 per hundredweight. This moved the 27-day average to $183.71 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 Pat Knobbe, Knobbe Cattle Co.