This week the 5-Area Accumulated Average Cattle Price dropped drastically this week, falling from $159.43 last Monday to $155.54.
Our panel of cattle industry experts who make up the Monday Market Sentiment shot too high with their estimation of $158.98 per hundredweight. This week, the panel projects the 5-Area price to increase to $156.19 per hundredweight.
Choice boxed beef steadily declined throughout last week, kicking off June 2 at $251.59 per hundredweight and declining to $244.11 per hundredweight by June 8. The boxed beef prices saw the largest decrease between Thursday June 3 and Friday June 5, dropping $3.83. The price decline moved the 27-day average to $257.40 per hundredweight.
Choice primal rib decreased throughout the week. Last week, primal rib kicked off June 2 at $371.71 per hundredweight and ended June 8 at $357.57 per hundredweight. June 5 saw the largest drop from $363.29 on June 4 to $355.58. The price movement set the 27-day average to $377.87. 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 Wayne Lee, Cattle Empire.
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.