Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 195.82 193.71 Change from prior day: 0.02 (0.24) ------------------------------------------------------------------------------- Choice/Select spread: 2.11

Total Load Count (Cuts, Trimmings, Grids): 114 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 285.88 278.82 Primal Chuck 158.76 158.68 Primal Round 165.81 167.36 Primal Loin 276.06 267.60 Primal Brisket 136.15 136.30 Primal Short Plate 141.12 144.47 Primal Flank 118.73 115.96 -------------------------------------------------------------------------------- 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 39.88 loads 1,595,157 pounds Select Cuts 14.57 loads 582,706 pounds Trimmings 40.68 loads 1,627,250 pounds Ground Beef 19.23 load 769,344 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 23 254,845 556.70 590.00 558.46 112A 3 Rib, ribeye, bnls, light 7 6,477 626.00 660.00 649.21 112A 3 Rib, ribeye, bnls, heavy 23 56,411 611.89 655.00 632.60 113C 1 Chuck, semi-bnls, neck/off 9 69,568 194.00 225.00 201.73 114 1 Chuck, shoulder clod 12 20,778 204.00 215.50 207.58 114A 3 Chuck, shoulder clod, trmd 13 17,917 205.00 233.00 215.70 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 3 7,094 262.00 269.00 262.92 114F 5 Chuck, clod tender (IM) 8 7,224 309.00 393.00 334.61 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 35 212,665 209.00 236.79 216.44 116B 1 Chuck, chuck tender (IM) 13 31,010 229.00 258.00 238.05

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 16 49,794 200.50 222.00 204.91 120A 3 Brisket, point/off, bnls 9 3,243 345.00 357.00 348.62 123A 3 Short Plate, short rib 4 15,424 360.00 381.00 366.44 130 4 Chuck, short rib 14 21,898 202.00 231.79 210.03 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 27 101,403 237.00 265.00 243.53 168 1 Round, top inside round 9 28,499 200.00 208.00 201.38 168 3 Round, top inside round 21 165,654 204.00 231.63 211.25 169 5 Round, top inside, denuded 8 11,477 241.00 258.00 248.88

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 8 91,875 192.82 215.00 194.24 171B 3 Round, outside round 22 100,987 203.40 236.00 211.03 171C 3 Round, eye of round (IM) 17 16,538 235.00 267.00 240.21 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 69,385 512.00 569.00 520.77 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 9 8,897 515.00 525.00 518.94 180 3 Loin, strip, bnls, 0x1 22 83,288 559.00 605.60 576.61 184 1 Loin, top butt, bnls, heavy 7 9,048 320.00 336.79 324.47 184 3 Loin, top butt, boneless 7 14,123 325.00 357.00 330.46 185A 4 Loin, bottom sirloin, flap 14 21,100 419.50 456.00 445.93 185B 1 Loin, ball-tip, bnls, heavy 6 8,940 313.00 335.00 333.11 185C 1 Loin, sirloin, tri-tip (IM) 3 1,201 336.00 365.00 352.26 185D 4 Loin, tri-tip, pld (IM) 8 3,935 446.00 478.00 452.71 189A 4 Loin, tndrloin, trmd, heavy 18 25,372 955.00 996.89 965.56 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 3,602 448.00 466.63 451.10 ------------------------------------------------------------------------------- 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 7 5,452 541.00 561.00 556.16 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 9 7,089 599.99 621.79 613.42 113C 1 Chuck, semi-bnls, neck/off 5 19,077 202.00 212.00 204.98 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 7 9,363 213.00 226.00 220.03 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 1,237 295.50 334.00 316.92 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 14 78,075 209.00 234.75 212.42 116B 1 Chuck, chuck tender (IM) 7 15,639 229.00 260.00 234.99

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 4 85,307 196.00 207.00 201.60 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 7 31,203 204.20 262.00 221.22 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 8 43,983 243.00 250.75 243.75 168 1 Round, top inside round 168 3 Round, top inside round 7 10,284 211.00 231.63 218.41 169 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 7 8,697 207.25 216.00 209.87 171C 3 Round, eye of round (IM) 5 6,601 235.00 243.25 237.13 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 4 5,151 522.00 536.63 526.10 175 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 8 44,425 530.00 550.00 531.50 184 1 Loin, top butt, bnls, heavy 3 2,997 317.00 324.25 322.15 184 3 Loin, top butt, boneless 8 8,115 315.00 340.00 320.51 185A 4 Loin, bottom sirloin, flap 7 28,543 419.50 446.00 433.08 185B 1 Loin, ball-tip, bnls, heavy 12 21,550 302.22 325.00 307.75 185C 1 Loin, sirloin, tri-tip (IM) 5 16,262 319.00 350.00 339.05 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 193 4 Flank, flank steak (IM) 3 1,724 452.00 475.00 458.35 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 9 7,265 343.00 367.00 350.24 121C 4 Plate, Outside Skirt (IM) 5 6,931 514.00 555.00 524.30 121E 6 Outside Skirt, pld (IM) 3 11,059 755.00 812.00 757.36

Cap, Wedge Meat & (IM) Lean 12 28,976 250.00 260.00 251.74

Pectoral Meat 5 20,140 275.00 280.75 276.85 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 6 125,658 164.50 177.00 164.98 Ground Beef 75% 0 0 Ground Beef 81% 17 110,296 176.00 199.00 185.74 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 7 16,419 250.00 266.26 262.62 Ground Beef Chuck 80% 8 139,777 179.46 196.00 181.40 Ground Beef Round 85% 5 1,390 215.97 220.00 217.21 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% 0 0 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 15 453,590 95.00 101.54 99.55 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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