Bloomberg News

USDA Boxed Beef Cutout Midday Prices for March 2

March 02, 2012

March 2 (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: 197.83 194.71 Change from prior day: (0.62) (0.44) ------------------------------------------------------------------------------- Choice/Select spread: 3.12

Total Load Count (Cuts, Trimmings, Grids): 118 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 283.70 277.84 Primal Chuck 161.28 162.04 Primal Round 168.98 169.77 Primal Loin 277.93 263.39 Primal Brisket 141.73 141.10 Primal Short Plate 142.29 145.50 Primal Flank 119.96 120.61 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/01 68 22 25 18 133 198.45 195.15 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 198.38 194.48 -------------------------------------------------------------------------------- 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 59.73 loads 2,389,334 pounds Select Cuts 16.86 loads 674,492 pounds Trimmings 0.00 loads 0 pounds Ground Beef 41.65 load 1,665,982 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 8 20,133 549.00 576.00 558.87 112A 3 Rib, ribeye, bnls, light 4 18,876 599.00 631.00 623.68 112A 3 Rib, ribeye, bnls, heavy 14 49,583 595.00 649.00 614.53 113C 1 Chuck, semi-bnls, neck/off 3 41,979 197.00 214.39 197.60 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 23 99,604 215.00 236.79 220.29 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 3 1,610 260.50 275.21 264.99 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 29 353,738 215.00 240.00 225.45 116B 1 Chuck, chuck tender (IM) 11 15,960 240.00 253.00 244.44

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 38 241,247 207.00 221.21 209.96 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 17 494,688 203.00 227.00 203.25 160 1 Round, bone-in 3 2,490 210.00 222.25 216.04 161 1 Round, boneless 3 2,612 227.65 232.39 229.86

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 19 56,668 240.00 262.39 251.82 168 1 Round, top inside round 35 313,911 201.00 225.99 205.34 168 3 Round, top inside round 19 71,654 213.00 231.79 216.45 169 5 Round, top inside, denuded 10 51,002 240.33 260.00 251.22

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 32 167,822 208.00 232.63 211.98 171C 3 Round, eye of round (IM) 23 42,009 239.00 261.79 243.76 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 6 14,594 543.00 556.00 544.49 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 10 18,127 525.00 528.00 525.27 180 3 Loin, strip, bnls, 0x1 18 35,433 582.00 606.79 587.91 184 1 Loin, top butt, bnls, heavy 3 4,037 325.00 329.00 326.06 184 3 Loin, top butt, boneless 17 25,179 341.00 358.00 344.86 185A 4 Loin, bottom sirloin, flap 6 15,406 435.00 452.75 437.07 185B 1 Loin, ball-tip, bnls, heavy 6 13,133 320.00 325.00 324.97 185C 1 Loin, sirloin, tri-tip (IM) 7 4,848 333.63 342.00 336.21 185D 4 Loin, tri-tip, pld (IM) 8 5,632 435.25 471.50 448.49 189A 4 Loin, tndrloin, trmd, heavy 13 30,333 923.00 980.00 947.09 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 8 10,848 438.00 465.00 452.57 ------------------------------------------------------------------------------- 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 9 15,114 527.42 562.39 548.79 112A 3 Rib, ribeye, bnls, light 4 6,689 610.50 625.00 616.57 112A 3 Rib, ribeye, bnls, heavy 10 10,379 596.97 615.60 608.14 113C 1 Chuck, semi-bnls, neck/off 4 2,908 209.24 215.00 211.25 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 12 16,113 215.00 231.00 222.07 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 5,894 315.50 375.00 373.67 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 12 66,309 214.34 236.00 228.52 116B 1 Chuck, chuck tender (IM) 5 28,398 235.00 252.00 235.87

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 12 63,339 208.32 217.00 209.99 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 6 28,924 249.76 265.00 251.23 168 1 Round, top inside round 10 48,549 202.00 220.21 209.16 168 3 Round, top inside round 9 52,153 203.96 225.79 213.21 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 81,856 200.00 220.21 200.16 171B 3 Round, outside round 8 50,584 212.00 221.73 213.16 171C 3 Round, eye of round (IM) 5 15,497 239.00 251.00 239.97 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 6,010 510.00 539.39 530.57 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 5 3,892 523.37 549.39 539.79 184 1 Loin, top butt, bnls, heavy 6 3,258 298.00 310.21 304.19 184 3 Loin, top butt, boneless 8 4,474 306.53 325.00 319.19 185A 4 Loin, bottom sirloin, flap 3 6,788 427.19 436.50 430.61 185B 1 Loin, ball-tip, bnls, heavy 4 2,117 300.00 310.21 303.68 185C 1 Loin, sirloin, tri-tip (IM) 3 6,383 322.00 340.21 323.49 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 5 6,275 930.21 950.00 936.94 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 0 0 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 3 2,567 115.00 124.50 122.20 121D 4 Plate, Inside Skirt (IM) 28 115,040 348.22 370.00 350.89 121C 4 Plate, Outside Skirt (IM) 9 8,036 474.17 525.00 510.80 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 14 41,574 240.00 258.30 252.29

Pectoral Meat 9 52,419 264.00 285.00 266.93 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 32 724,770 171.00 191.00 174.03 Ground Beef 75% Ground Beef 81% 20 166,537 177.00 198.00 188.26 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 6 21,194 250.00 272.75 253.43 Ground Beef Chuck 80% 13 85,785 179.82 197.00 193.56 Ground Beef Round 85% 8 20,054 211.00 221.00 212.69 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- 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% 6 63,386 195.50 202.00 198.11 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 0 0 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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