The price for 5-area cash cattle continues a two week slump, taking another huge dip from the previous week. The price drop went from $167 in the previous week to $162.67 last week.

Our panel of cattle industry experts predicted the drop, however estimated it to only slip down to $165.32. This week the Monday Market Sentiment panel is projects the market to continue the downward movement, dropping to $161.68.

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 continued to lose momentum last week that had been gained in previous weeks. After seeing a $4.43 drop throughout the previous week, last Tuesday’s high of $250.51 declined to $245.52 by Monday. This moved the 27-day average to $252.69.

Choice primal rib has cooled off after breaking a year high of $413.39 in the previous week. Tuesday saw a high of $400.80 and continued to sharply decline throughout the week to Monday’s low of $386.71 – a $27.22 price drop from that point a week earlier. The price drop moved the 27-day average to $393.14.

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 was Joe Morgan, Poky Feeders.

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 386.71 385.59 1.12
 
PRIMAL RIB - CH 10 DAYS 27 DAYS THIS YEAR
Average 399.54 393.14 342.30
High 413.39 413.39 413.39
Low 385.59 367.69 277.33
 
Chart
 
 
Data provided by iNet Solutions Group, Inc.
All commodity prices delayed 10 minutes.