USDA’s 5-Area Accumulated Average Cattle Price continued to weaken last week, ending on April 27. The two-week decline to $159.20 per hundredweight comes after a six-week rally.
Our panel of cattle industry experts who make up the Monday Market Sentiment were only 16 cents off of their predictions of prices continuing to fall, with an estimation of $159.36 per hundredweight. This week, the panel isn’t optimistic, predicting prices to lower to $159.12 per hundredweight.
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Choice boxed beef prices had another volatile week last week, kicking off April 21 at $259.82 per hundredweight, and ending on April 27 at $259.89 per hundredweight. During the middle of the week, choice boxed beef prices hit a high of $260.06 per hundredweight on April 22. This moves the 27-day average to $255.46 per hundredweight.
Choice primal rib also struggled last week. Starting off on April 21 at $386.57 per hundredweight, choice primal rib declined $4.87 per hundredweight during the week, ending on April 27 at $381.70 per hundredweight. However, prices hit a high mid-week at $388.65 per hundredweight on April 23. The price movement set the 27-day average at $382.69 per hundredweight.
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 Joe Kovanda, Bartlett Cattle.
Want to join the expert panel? Email your 5-area cash trade estimate by 10 a.m. CT each Tuesday to email@example.com along with your name and company affiliation.