The 5-Area Accumulated Average Cattle Price saw a drop from $127.52 on June 14 to $120.82 on June 21.
The panel of cattle industry experts who make up our Monday Market Sentiment predicted $129.01 per hundredweight. This week, they seem less optimistic with an average guess of $124.68 per hundredweight.
Choice boxed beef decreased throughout the week, starting June 15 at $226.42 per hundredweight, and ending June 21 on $218.15 per hundredweight. The increase moved the 27-day average to $223.92 per hundredweight.
Each week the Beef Market Central, 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 with a guess of $121.95.
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.