After an upward trending market, the 5-area cash cattle price took a $4.66 hit last week, dropping from $171.66 to $167.

Our panel of cattle industry experts who are part of the Monday Market Sentiment estimated the drop, however predicted it to settle at $170.97. This week the panel estimates the market to continue downward to $165.32.

Feed cattle? Like predicting market trends? Have use for a $100 gift card from Cabelas? Then we want you. Click here to join our Monday Market Sentiment panel of cattle industry experts.

Choice boxed beef kept up some of its momentum from the previous week, seeing a high of $256.41 on Wednesday. Prices continued to decline steadily on into the week, dropping to $251.98 by Monday. The price movement set the 27-day average at $253.36.

Choice primal rib prices spiked back up last week after seeing some decreases in the previous week. Tuesday started out at $403.32 and was hitting a record high of $413.39 by Monday. The price jump moved the 27-day average from $378.17 in the previous week to $387.70 last week.

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 winners were Wayne Lee and Jim Gilmore of Cattle Empire.

Want to join the expert panel? Email your 5-area cash trade estimate by 10 a.m. CT each Tuesday to cmies@vancepublishing.com along with your name and company affiliation.

 
REPORT TODAY YESTERDAY DIFFERENCE
  Primal Rib - Ch 413.39 412.69 0.70
 
PRIMAL RIB - CH 10 DAYS 27 DAYS THIS YEAR
Average 404.77 387.70 341.26
High 413.39 413.39 413.39
Low 398.48 359.17 277.33
 
Chart
 
 
Data provided by iNet Solutions Group, Inc.
All commodity prices delayed 10 minutes.