The 5-Area Accumulated Average Cattle Price saw an increase from $123.78 on May 3 to $132.64 on May 10.
The panel of cattle industry experts who make up our Monday Market Sentiment were a little low with a prediction of $123.95 per hundredweight. This week, they seem more optimistic with an average guess of $128.84 per hundredweight.
Choice boxed beef jumped throughout the week, starting May 10 at $210.70 per hundredweight, and ending May 16 on $222.40 per hundredweight. The increase moved the 27-day average to $215.82 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 Chris Hayes, Hayes Feed Yard, Inc.
Want to join the expert panel? Email your 5-area cash trade estimate by 10 a.m. CT each Tuesday to dwexler@Farmjournal.com along with your name and company affiliation.