This week the 5-Area Accumulated Average Cattle Price saw a huge fall to hit $147.27.
Our panel of cattle industry experts who make up the Monday Market Sentiment was a little high with an average guess of $151.24 per hundredweight. This week, the panel projects the 5-Area price to fall to $146.63.
Choice boxed beef dropped throughout this week, starting off on August 8 at $245.08 per hundredweight and moving to $244.31 per hundredweight by August 24. The largest drop was from Thursday to Friday, with a $1.56 drop.
Choice primal rib saw a jump over the week. Last week, primal rib kicked off August 18 at $344.93 per hundredweight and ended August 24 at $350.07 per hundredweight. The price movement set the 27-day average to $331.25 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 John Butler, BMG.
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.