Bloomberg News

USDA Boxed Beef Cutout Closing Prices for March 5

March 05, 2012

March 5 (Bloomberg) -- This table details boxed beef cutout prices supplied daily by the U.S. Department of Agriculture. Prices and loads traded are as of 3:00 p.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: 197.99 194.19 Change from prior day: (0.08) 0.39 ------------------------------------------------------------------------------- Choice/Select spread: 3.81

Total Load Count (Cuts, Trimmings, Grids): 152 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 285.80 277.95 Primal Chuck 160.55 159.07 Primal Round 168.78 168.82 Primal Loin 278.54 265.69 Primal Brisket 142.09 141.91 Primal Short Plate 142.66 146.07 Primal Flank 120.21 120.08 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/02 125 41 6 54 226 198.07 193.80 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 198.51 194.56 -------------------------------------------------------------------------------- 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 77.31 loads 3,092,389 pounds Select Cuts 37.51 loads 1,500,341 pounds Trimmings 16.61 loads 664,341 pounds Ground Beef 20.36 load 814,243 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 30 289,211 549.00 576.00 561.20 112A 3 Rib, ribeye, bnls, light 7 7,236 624.00 665.00 652.37 112A 3 Rib, ribeye, bnls, heavy 36 174,193 609.00 665.00 618.36 113C 1 Chuck, semi-bnls, neck/off 8 21,023 202.00 221.50 204.08 114 1 Chuck, shoulder clod 7 23,806 212.00 219.00 213.60 114A 3 Chuck, shoulder clod, trmd 29 281,410 215.00 229.00 220.45 114D 3 Chuck, clod, top blade 7 12,086 264.43 290.00 277.44 114E 3 Chuck, clod, arm roast 16 24,797 239.60 288.00 258.98 114F 5 Chuck, clod tender (IM) 9 19,246 308.00 375.00 330.44 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 43 389,002 220.48 239.00 227.26 116B 1 Chuck, chuck tender (IM) 24 45,634 241.00 257.69 251.68

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 29 110,565 206.42 223.63 210.03 120A 3 Brisket, point/off, bnls 8 10,335 333.40 355.00 340.07 123A 3 Short Plate, short rib 24 25,584 305.00 392.00 348.73 130 4 Chuck, short rib 16 44,826 210.00 235.00 219.09 160 1 Round, bone-in 4 3,426 210.00 221.63 218.82 161 1 Round, boneless 7 11,721 224.00 240.10 228.40

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 59 219,209 245.95 265.00 255.11 168 1 Round, top inside round 22 244,591 200.00 225.00 204.61 168 3 Round, top inside round 28 139,464 209.00 238.00 212.88 169 5 Round, top inside, denuded 19 61,442 253.27 265.00 256.78

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 43 260,061 208.00 242.60 215.34 171C 3 Round, eye of round (IM) 34 72,650 225.60 255.69 239.64 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 15 24,048 539.00 565.00 550.33 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 10 6,750 525.00 536.50 525.86 180 3 Loin, strip, bnls, 0x1 45 122,242 584.21 605.00 589.05 184 1 Loin, top butt, bnls, heavy 8 9,002 320.00 329.50 323.93 184 3 Loin, top butt, boneless 31 102,654 334.21 353.00 343.17 185A 4 Loin, bottom sirloin, flap 17 30,222 429.00 451.42 441.81 185B 1 Loin, ball-tip, bnls, heavy 5 10,722 315.00 325.00 321.03 185C 1 Loin, sirloin, tri-tip (IM) 7 17,139 325.00 344.00 329.96 185D 4 Loin, tri-tip, pld (IM) 9 4,798 451.63 491.00 479.11 189A 4 Loin, tndrloin, trmd, heavy 32 94,624 953.00 973.00 963.34 191A 4 Loin, butt tender, trimmed 9 6,297 857.40 915.00 875.73 193 4 Flank, flank steak (IM) 19 30,628 445.76 476.50 456.05 ------------------------------------------------------------------------------- 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 16 24,816 537.63 561.00 553.24 112A 3 Rib, ribeye, bnls, light 9 25,984 604.41 625.00 612.62 112A 3 Rib, ribeye, bnls, heavy 11 22,860 599.00 626.00 605.10 113C 1 Chuck, semi-bnls, neck/off 8 22,288 203.09 216.00 209.56 114 1 Chuck, shoulder clod 7 9,126 208.12 215.47 212.29 114A 3 Chuck, shoulder clod, trmd 8 70,029 220.20 229.00 225.09 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 4 5,120 316.50 321.00 320.06 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 182,600 225.23 239.00 227.38 116B 1 Chuck, chuck tender (IM) 7 16,810 238.26 250.00 241.23

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 91,883 208.50 215.00 209.33 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 9,718 275.00 387.00 294.34 130 4 Chuck, short rib 6 43,678 201.00 220.00 213.77 160 1 Round, bone-in 161 1 Round, boneless 3 5,310 222.50 227.00 225.64

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 11 12,038 249.40 261.69 256.12 168 1 Round, top inside round 16 102,919 200.00 219.00 203.46 168 3 Round, top inside round 10 43,716 211.00 228.65 215.45 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 8 47,782 200.00 215.00 201.48 171B 3 Round, outside round 15 35,046 212.00 224.80 219.22 171C 3 Round, eye of round (IM) 9 37,913 237.45 261.00 249.72 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 88,034 510.00 538.11 518.79 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 15 16,350 529.76 546.63 541.21 184 1 Loin, top butt, bnls, heavy 8 17,525 291.50 314.00 307.42 184 3 Loin, top butt, boneless 21 97,366 304.76 330.65 314.14 185A 4 Loin, bottom sirloin, flap 8 130,271 411.00 435.00 414.23 185B 1 Loin, ball-tip, bnls, heavy 7 9,149 296.50 302.00 299.58 185C 1 Loin, sirloin, tri-tip (IM) 7 12,031 301.89 340.00 307.38 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 12 39,428 897.88 964.74 933.53 191A 4 Loin, butt tender, trimmed 6 1,936 871.76 901.00 878.36 193 4 Flank, flank steak (IM) 9 7,154 427.00 475.50 450.72 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 4,372 110.95 125.00 117.97 121D 4 Plate, Inside Skirt (IM) 17 24,740 353.00 387.00 360.11 121C 4 Plate, Outside Skirt (IM) 8 12,176 515.00 525.00 523.86 121E 6 Outside Skirt, pld (IM) 10 32,767 707.60 775.25 746.51

Cap, Wedge Meat & (IM) Lean 35 157,360 243.00 265.00 249.39

Pectoral Meat 16 26,191 269.00 289.00 276.60 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 16 95,597 169.00 181.65 175.30 Ground Beef 75% 0 0 Ground Beef 81% 30 140,253 179.00 202.95 184.93 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 16 112,732 250.00 266.00 253.70 Ground Beef Chuck 80% 28 234,148 180.00 202.60 184.74 Ground Beef Round 85% 10 10,777 209.99 216.00 213.77 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% Blended Ground Beef 81% 9 61,361 197.60 212.50 207.81 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 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 13 455,181 99.00 102.59 100.35 Frozen 50% lean trimmings -------------------------------------------------------------------------------- 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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