Bloomberg News

USDA Boxed Beef Cutout Closing Prices for March 9

March 09, 2012

March 9 (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: 193.84 193.36 Change from prior day: (1.96) (0.59) ------------------------------------------------------------------------------- Choice/Select spread: 0.48

Total Load Count (Cuts, Trimmings, Grids): 189 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 286.19 278.50 Primal Chuck 154.94 157.92 Primal Round 164.38 167.18 Primal Loin 273.33 267.45 Primal Brisket 136.12 135.62 Primal Short Plate 141.21 144.58 Primal Flank 118.98 116.11 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/08 94 34 23 47 199 195.80 193.95 03/07 168 48 20 32 269 197.53 195.08 03/06 85 48 6 27 166 198.11 194.75 03/05 77 38 17 20 152 197.99 194.19 03/02 125 41 6 54 226 198.07 193.80 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.50 194.35 -------------------------------------------------------------------------------- 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 91.20 loads 3,648,145 pounds Select Cuts 22.24 loads 889,609 pounds Trimmings 45.38 loads 1,815,050 pounds Ground Beef 30.02 load 1,200,916 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 32 336,319 553.29 590.00 557.99 112A 3 Rib, ribeye, bnls, light 9 11,771 626.00 674.05 657.06 112A 3 Rib, ribeye, bnls, heavy 26 66,663 611.21 666.00 630.87 113C 1 Chuck, semi-bnls, neck/off 10 77,293 194.00 225.00 201.55 114 1 Chuck, shoulder clod 18 32,933 195.00 215.50 203.96 114A 3 Chuck, shoulder clod, trmd 38 519,627 195.00 233.00 198.11 114D 3 Chuck, clod, top blade 7 5,122 271.50 291.00 288.18 114E 3 Chuck, clod, arm roast 6 8,788 250.46 269.00 261.00 114F 5 Chuck, clod tender (IM) 11 11,375 307.00 393.00 327.18 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 63 436,889 204.00 236.79 212.85 116B 1 Chuck, chuck tender (IM) 17 41,141 229.00 258.00 238.70

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 29 134,777 195.80 222.00 202.01 120A 3 Brisket, point/off, bnls 12 5,191 334.00 357.00 344.00 123A 3 Short Plate, short rib 8 25,519 286.00 385.00 351.81 130 4 Chuck, short rib 23 36,614 202.00 237.76 212.27 160 1 Round, bone-in 161 1 Round, boneless 5 8,137 219.00 226.75 222.27

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 50 281,550 233.00 265.00 240.07 168 1 Round, top inside round 16 83,430 194.00 208.00 198.79 168 3 Round, top inside round 34 398,874 201.00 231.63 206.68 169 5 Round, top inside, denuded 10 16,047 241.00 258.00 247.96

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 10 92,780 192.82 215.00 194.35 171B 3 Round, outside round 45 373,396 200.00 236.00 204.87 171C 3 Round, eye of round (IM) 33 63,117 224.22 267.00 234.65 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 14 91,952 512.00 566.00 524.02 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 14 11,754 511.00 525.00 518.75 180 3 Loin, strip, bnls, 0x1 35 129,407 555.00 605.60 574.39 184 1 Loin, top butt, bnls, heavy 11 12,921 320.00 336.79 323.57 184 3 Loin, top butt, boneless 12 30,416 319.21 357.00 327.14 185A 4 Loin, bottom sirloin, flap 23 77,201 401.79 456.00 436.23 185B 1 Loin, ball-tip, bnls, heavy 11 77,209 280.00 335.00 288.85 185C 1 Loin, sirloin, tri-tip (IM) 5 2,106 336.00 365.00 351.71 185D 4 Loin, tri-tip, pld (IM) 10 4,753 446.00 485.00 458.27 189A 4 Loin, tndrloin, trmd, heavy 19 26,926 955.00 996.89 965.53 191A 4 Loin, butt tender, trimmed 6 4,663 833.00 922.00 856.48 193 4 Flank, flank steak (IM) 7 6,448 448.00 481.00 458.69 ------------------------------------------------------------------------------- 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 8 5,531 541.00 566.00 556.30 112A 3 Rib, ribeye, bnls, light 3 2,075 615.00 629.50 619.47 112A 3 Rib, ribeye, bnls, heavy 11 13,261 599.99 621.79 610.92 113C 1 Chuck, semi-bnls, neck/off 6 20,007 202.00 212.00 204.94 114 1 Chuck, shoulder clod 7 17,910 200.00 218.74 205.13 114A 3 Chuck, shoulder clod, trmd 11 17,199 210.00 226.00 219.03 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 3,334 295.50 334.00 321.28 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 111,157 203.00 238.60 212.72 116B 1 Chuck, chuck tender (IM) 12 38,938 229.00 260.00 233.20

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 6 55,816 196.00 214.00 199.22 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 7,380 281.76 385.00 346.69 130 4 Chuck, short rib 9 34,295 201.00 262.00 219.50 160 1 Round, bone-in 161 1 Round, boneless 3 6,509 211.00 222.50 220.99

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 13 56,810 237.00 254.00 243.68 168 1 Round, top inside round 8 36,381 196.00 212.75 201.11 168 3 Round, top inside round 12 25,609 211.00 231.63 217.70 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 2,840 194.00 213.75 194.89 171B 3 Round, outside round 9 13,907 201.00 216.00 207.26 171C 3 Round, eye of round (IM) 9 8,765 235.00 244.79 238.42 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 11 13,584 518.62 536.63 526.31 175 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 10 47,169 530.00 550.00 532.26 184 1 Loin, top butt, bnls, heavy 6 4,175 310.00 324.25 321.50 184 3 Loin, top butt, boneless 13 19,714 313.62 340.00 318.64 185A 4 Loin, bottom sirloin, flap 8 39,448 419.50 446.00 429.74 185B 1 Loin, ball-tip, bnls, heavy 17 47,999 271.79 325.00 292.00 185C 1 Loin, sirloin, tri-tip (IM) 7 18,045 319.00 350.00 339.21 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 9 11,856 924.00 961.89 931.11 191A 4 Loin, butt tender, trimmed 5 2,504 869.48 895.00 882.11 193 4 Flank, flank steak (IM) 4 2,380 452.00 475.00 462.94 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 9,154 114.39 125.00 116.46 121D 4 Plate, Inside Skirt (IM) 16 20,035 343.00 375.00 358.39 121C 4 Plate, Outside Skirt (IM) 7 15,202 514.00 555.00 540.25 121E 6 Outside Skirt, pld (IM) 3 11,059 755.00 812.00 757.36

Cap, Wedge Meat & (IM) Lean 29 100,701 233.00 260.00 246.35

Pectoral Meat 16 48,752 270.20 285.50 273.80 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 15 216,242 164.50 177.00 165.79 Ground Beef 75% 0 0 Ground Beef 81% 35 186,401 172.00 199.00 185.15 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 13 41,937 235.31 268.75 249.72 Ground Beef Chuck 80% 16 253,826 175.00 196.00 180.42 Ground Beef Round 85% 6 1,875 215.00 220.00 216.64 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% 10 57,965 198.20 217.75 213.68 Blended Ground Beef 85% Blended Ground Beef 90% 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 17 515,390 92.00 101.54 98.87 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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