Bloomberg News

USDA Boxed Beef Cutout Midday Prices for March 1

March 01, 2012

March 1 (Bloomberg) -- This table details boxed beef cutout prices supplied daily by the U.S. Department of Agriculture. Prices and loads traded are as of 11:30 a.m. U.S. central time.

Prices are determined from cuts in dollars a hundredweight and vary between higher-quality choice cuts and select beef cuts for sale f.o.b. Omaha, Nebraska.

CHOICE SELECT

600-900 600-900 ------------------------------------------------------------------------------- Current Cutout Values: 198.61 195.21 Change from prior day: (0.19) 0.06 ------------------------------------------------------------------------------- Choice/Select spread: 3.40

Total Load Count (Cuts, Trimmings, Grids): 77 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 284.72 275.28 Primal Chuck 162.01 162.82 Primal Round 170.58 171.38 Primal Loin 278.26 264.07 Primal Brisket 142.01 141.98 Primal Short Plate 142.53 145.64 Primal Flank 119.67 120.65 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 02/29 131 72 18 42 264 198.80 195.15 02/28 91 52 28 38 208 198.65 194.68 02/27 76 38 10 13 137 198.56 193.99 02/24 61 47 26 24 157 197.42 193.40 02/23 88 48 23 40 199 196.86 193.02 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 198.06 194.05 -------------------------------------------------------------------------------- NATIONAL BOXED BEEF CUTS - NEGOTIATED SALES FOB Plant basis negotiated sales for delivery within 0-21 day period. Prior days sales after 1:30pm are included.

CURRENT VOLUME - (one load equals 40,000 pounds)

Choice Cuts 37.54 loads 1,501,730 pounds Select Cuts 10.80 loads 431,902 pounds Trimmings 15.30 loads 611,805 pounds Ground Beef 13.37 load 534,961 pounds ------------------------------------------------------------------------------- Choice Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

rades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 13 36,409 548.00 582.12 558.20 112A 3 Rib, ribeye, bnls, light 6 16,888 607.00 646.00 617.19 112A 3 Rib, ribeye, bnls, heavy 27 91,497 599.74 656.00 625.11 113C 1 Chuck, semi-bnls, neck/off 6 49,583 207.32 221.00 212.31 114 1 Chuck, shoulder clod 7 27,232 207.79 215.00 212.92 114A 3 Chuck, shoulder clod, trmd 17 97,986 217.50 234.00 223.77 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 4 6,130 257.00 272.42 258.33 114F 5 Chuck, clod tender (IM) 8 11,218 309.00 375.00 320.72 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 28 185,783 216.23 240.75 226.61 116B 1 Chuck, chuck tender (IM) 15 27,239 235.62 253.00 249.36

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 26 145,447 205.00 227.00 209.32 120A 3 Brisket, point/off, bnls 12 23,476 335.92 355.00 342.46 123A 3 Short Plate, short rib 14 4,971 305.00 360.00 338.63 130 4 Chuck, short rib 12 28,727 199.00 260.00 219.41 160 1 Round, bone-in 3 3,107 210.50 221.63 215.68 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 24 61,032 245.79 261.00 252.53 168 1 Round, top inside round 16 51,916 212.00 218.00 213.98 168 3 Round, top inside round 7 8,102 211.00 230.00 218.46 169 5 Round, top inside, denuded 11 24,058 256.00 265.00 259.34

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 4,700 215.00 216.25 215.47 171B 3 Round, outside round 25 92,333 210.00 225.79 216.36 171C 3 Round, eye of round (IM) 11 17,727 235.46 253.00 245.51 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 8,949 535.00 561.00 550.95 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 9 7,716 512.75 544.39 525.88 180 3 Loin, strip, bnls, 0x1 20 59,441 582.42 600.00 588.45 184 1 Loin, top butt, bnls, heavy 7 6,628 309.92 332.21 326.14 184 3 Loin, top butt, boneless 16 52,307 334.00 358.70 338.04 185A 4 Loin, bottom sirloin, flap 13 39,489 428.62 450.00 442.62 185B 1 Loin, ball-tip, bnls, heavy 15 27,313 312.00 331.00 321.95 185C 1 Loin, sirloin, tri-tip (IM) 13 34,684 331.25 354.87 345.04 185D 4 Loin, tri-tip, pld (IM) 8 16,679 440.00 459.00 442.36 189A 4 Loin, tndrloin, trmd, heavy 21 32,553 925.00 970.00 962.55 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 9 13,463 440.00 465.00 449.41 ------------------------------------------------------------------------------- Select Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

Trades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 6 1,888 511.00 554.92 529.09 112A 3 Rib, ribeye, bnls, light 10 7,674 609.00 625.00 615.91 112A 3 Rib, ribeye, bnls, heavy 18 17,658 578.50 612.63 605.85 113C 1 Chuck, semi-bnls, neck/off 6 33,093 210.50 215.50 213.03 114 1 Chuck, shoulder clod 3 3,701 212.75 219.00 213.71 114A 3 Chuck, shoulder clod, trmd 10 10,189 223.00 235.50 226.84 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 4 4,336 304.00 321.50 306.97 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 12 31,902 227.00 237.00 232.63 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 5 34,877 205.00 221.00 205.44 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 8 14,038 246.40 260.00 252.41 168 1 Round, top inside round 4 6,603 212.00 215.00 213.66 168 3 Round, top inside round 7 29,017 211.00 228.00 215.89 169 5 Round, top inside, denuded 4 3,207 257.50 262.00 260.96

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 6,255 200.50 215.00 207.58 171B 3 Round, outside round 5 15,551 212.00 225.50 214.86 171C 3 Round, eye of round (IM) 9 15,044 239.40 255.79 246.47 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 7 6,838 505.79 530.50 527.44 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 8 7,664 525.79 544.50 530.84 184 1 Loin, top butt, bnls, heavy 3 5,463 263.79 305.00 277.61 184 3 Loin, top butt, boneless 11 19,476 295.00 320.00 306.14 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 4 14,893 298.40 305.50 300.80 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 10 21,086 924.00 937.89 925.91 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 10 13,466 430.00 466.25 454.96 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 16 9,414 97.89 128.00 110.00 121D 4 Plate, Inside Skirt (IM) 17 66,672 350.00 366.00 352.46 121C 4 Plate, Outside Skirt (IM) 14 48,262 491.00 530.00 518.14 121E 6 Outside Skirt, pld (IM) 5 2,820 720.00 720.00 720.00

Cap, Wedge Meat & (IM) Lean 24 89,466 242.00 272.63 249.81

Pectoral Meat 14 28,393 257.97 295.00 274.00 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 12 90,252 173.00 180.00 175.51 Ground Beef 75% 0 0 Ground Beef 81% 26 110,180 182.00 199.39 189.67 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 4 27,879 250.00 272.75 259.82 Ground Beef Chuck 80% 12 177,569 179.27 196.00 189.81 Ground Beef Round 85% 6 11,553 196.42 216.00 211.47 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% Blended Ground Beef 75% 0 0 Blended Ground Beef 81% 4 3,108 200.30 213.00 205.15 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% 0 0 Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 18 611,805 98.00 107.00 100.17 Frozen 50% lean trimmings 0 0 -------------------------------------------------------------------------------- FAT LIMITATIONS (FL) DESCRIPTION Maximum Average Fat Thickness Maximum Fat at any point 1. 3/4" (19mm) 1.0" 2. 1/4" (6mm) 1/2" 3. 1/8" (3mm) 1/4" 4. Practically free (75% surface lean exposed) 1/8" 5. Peeled/Denuded 1/8" 6. Peeled/Denuded, surface membrane removed 1/8" -------------------------------------------------------------------------------- Items that have no entries indicate there were trades but not reportable because they did not meet the daily 3/70/20 guideline. Please refer to weekly LM_XB459 as the item may qualify. --------------------------------------------------------------------------------

A cutout value is an average of the prices tallied for cuts of beef from cattle carcasses weighing 550-850 pounds. Cutout values are separated into three main product types. Fabricated loads are beef cuts taken from an animal's ribs, chuck, round, loin, brisket, short plate and flank; 50 percent loads are 50 percent lean beef trimmings. Ground loads may contain 73, 75, or 80 percent ground beef. A typical refrigerated truckload carries 40,000 pounds.

Choice 1-3 grade is a better grade than Select 1-3, partly because Choice cuts have more fat, or marbling, than Select cuts.

Grade quality is determined using a 1-5 yield grade scale. A rating of 1 is the highest ratio of muscle to fat, while 5 is the lowest. Marbling is an important flavor factor.


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