USDA’s 5-Area Accumulated Average Cattle Price continues a two-week increase, up $2.61 per hundredweight from the previous week, ending on $161.01 per hundredweight.
While our panel of cattle industry experts who make up the Monday Market Sentiment predicted the increase, they fell short with an estimation of $159.16 per hundredweight, setting them off by $1.85 per hundredweight. This week the panel estimates cattle prices to decline slightly, to $160.86 per hundredweight.
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After ending on a high of $248.67 per hundredweight in the previous week on March 2, choice boxed beef prices kicked off last week with a high of $249.61 per hundredweight on March 3. Prices became volatile, ending March 9 on $247.59 per hundredweight. This moved the 27-day average to $242.98 per hundredweight.
Choice primal rib prices became stronger last week, carrying over the previous week’s momentum. The week started off on March 3 at a high of $355.45 per hundredweight, but then dropped to $353.71 per hundredweight the following day. The week ended on March 9 at $352.77 per hundredweight, moving the 27-day average to $336.41 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 Ben Stromgren, Bartlett Cattle.
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.