Things are looking up for the 5-area cash cattle market as it continues a two-week climb to $166.11 last week. This is up $4.06 from the previous week.
Our panel of cattle industry experts predicted the increase, however only saw it reaching $164.04. This week they upped their bid, estimating it to hit $167.38.
Choice boxed beef also continues to make gains, starting with a low of $245.67 on Tuesday and gradually climbing to a high of $249.36. While the market is improving, weak prices at the end of the year are still taking toll on the 27-day average, dropping it for $248.69 last week.
Choice primal rib took another hit last week, hovering around $341 Tuesday-Thursday before taking a dive around $332 on Friday. The 27-day average continued to decline, settling to $373.96 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 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.