USDA’s 5-Area Accumulated Average Cattle Price continues a three-wee increase, up slightly to 17 cents with a price of $161.18 per hundredweight.
Last week, our panel of cattle industry experts who make up the Monday Market Sentiment projected a decrease to $160.86 per hundredweight. This week, the panel collectively predicts cash cattle to drop to $160.73 per hundredweight.
Choice boxed beef prices continue a downward trend, dropping from $247.79 per hundredweight on Tuesday, March 10, and ending on $245.26 per hundredweight on March 16. Prices have been continually declining since March 3 when choice boxed prices hit $249.61 per hundredweight. The price drop has set the 27-day average to $243.67 per hundredweight.
Choice primal rib had a strong week, making significant gains, carrying a three-week rally. Prices started off March 10 at $354.62 per hundredweight, and hit $363 per hundredweight by the end of the week on March 16. The market strength has moved the 27-day average to $342.56 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 Marshall Jensen, Snake River.
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.