The start of grilling season has boxed beef prices on fire.
USDA’s 5-Area Accumulated Average Cattle Price is up again this week, jumping from $165.54 per hundredweight in the previous week ending March 30, to $167.59 per hundredweight last week. The increase continues a six-week climb in the cash cattle price.
Our panel of experts who make up the Monday Market Sentiment were too modest in their estimation of prices hitting $165.59 per hundredweight. Collectively, this week the panel predicts cash cattle prices to bring $166.98 per hundredweight.
Choice boxed beef progressed significantly from the previous week, jumping from $251.70 per hundredweight on March 30, to $255.42 per hundredweight on March 31. By April 7, choice boxed beef hit a high of $256.98 per hundredweight.
Choice primal rib also made significant gains throughout last week, kicking off with previous week high of $379.37 per hundredweight on March 30, hitting $388.56 per hundredweight by April 7.
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 Terry Ryan, JBS Five Rivers.
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.