After a two-week decline in USDA’s 5-Area Accumulated Average Cattle Price, cattle prices increased $1.62 per hundredweight last week to $160.82 per hundredweight.
Our panel of cattle industry experts who make up the Monday Market Sentiment predicted cattle prices to continue to decline to $159.12 per hundredweight. This week, the panel estimates the 5-Area price to hold steady at $160.83 per hundredweight.
Feed cattle? Like predicting market trends? Have use for a $100 gift card from Cabela's? Then we want you. Click here to join our Monday Market Sentiment panel of cattle industry experts.
Choice boxed beef prices had a rough last week, hitting a high of $258.55 per hundredweight on April 29, but quickly declining to $255.64 per hundredweight by May 4. The previous week ending on April 27, hit a high of $260.06 per hundredweight on April 22. The price movements set the 27-day average to $257.13 per hundredweight.
Choice primal rib carried over a volatile market from the previous week, kicking of April 28 at $383.44 per hundredweight, immediately jumping $4.48 per hundredweight to $388.02 per hundredweight on April 29. However, by May 4, choice primal rib prices had steadily declined another $7.69 per hundredweight to $376.55 per hundredweight. The declines moved the 27-day average to $384.90 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 winners were Tom Brink, 5 Rivers; Jerry Kuckelman, ILS Beef.
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.