This week the 5-Area Accumulated Average Cattle Price continued its six-week decline to hit $150.16 this week.
Our panel of cattle industry experts who make up the Monday Market Sentiment guessed a little too high this week with their estimation of $153.21 per hundredweight. This week, the panel projects the 5-Area price to increase to $151.06 per hundredweight.
Choice boxed beef gained momentum this week, starting off on June 16 at $249.47 per hundredweight and increasing to $252.83 per hundredweight by June 22. The price increase moved the 27-day average to $254.13 per hundredweight.
Choice primal rib increased throughout the week. Last week, primal rib kicked off June 16 at $354.98 per hundredweight and ended June 22 at $356.11 per hundredweight. There was a slight dip in the week from Wednesday to Thursday to hit $353.49, but prices bounced back on Friday at $355.25. The price movement set the 27-day average to $368.43 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.