Bloomberg News

USDA Boxed Beef Cutout Midday Prices for April 3

April 03, 2012

April 3 (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: 184.57 182.30 Change from prior day: 0.47 (0.05) ------------------------------------------------------------------------------- Choice/Select spread: 2.27

Total Load Count (Cuts, Trimmings, Grids): 58 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 281.65 271.37 Primal Chuck 146.08 145.67 Primal Round 156.96 157.30 Primal Loin 257.85 251.99 Primal Brisket 131.30 129.39 Primal Short Plate 132.95 138.39 Primal Flank 108.12 104.67 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/02 79 49 21 26 174 184.10 182.35 03/30 88 36 16 21 161 183.37 182.40 03/29 81 43 34 21 179 183.46 183.12 03/28 138 69 23 41 272 184.24 184.32 03/27 99 48 15 35 197 185.44 185.38 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 184.12 183.51 -------------------------------------------------------------------------------- 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 25.65 loads 1,025,971 pounds Select Cuts 11.83 loads 473,383 pounds Trimmings 7.82 loads 312,715 pounds Ground Beef 12.79 load 511,407 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 11 23,775 559.00 589.75 575.54 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 12 11,058 594.94 646.80 622.54 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 7 22,380 185.00 201.50 194.02 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 6,426 300.01 379.70 308.15 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 11 36,111 190.00 207.38 198.46 116B 1 Chuck, chuck tender (IM) 8 8,698 212.00 217.00 214.40

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 17 39,087 190.00 202.00 194.53 120A 3 Brisket, point/off, bnls 4 2,623 310.00 346.00 322.67 123A 3 Short Plate, short rib 9 23,296 305.00 366.00 346.58 130 4 Chuck, short rib 15 58,624 194.75 278.50 205.41 160 1 Round, bone-in 161 1 Round, boneless 3 7,790 209.50 213.00 210.20

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 17 41,372 217.10 230.00 220.53 168 1 Round, top inside round 11 73,403 185.80 195.17 190.98 168 3 Round, top inside round 9 96,237 199.70 214.75 207.26 169 5 Round, top inside, denuded 3 1,897 245.17 248.00 247.03

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 3,221 182.89 198.00 183.88 171B 3 Round, outside round 18 112,716 191.00 207.00 194.26 171C 3 Round, eye of round (IM) 19 46,702 212.10 224.00 216.73 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 5,624 515.00 544.75 535.71 175 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 10 20,890 514.61 536.00 523.17 184 1 Loin, top butt, bnls, heavy 7 4,599 300.00 310.00 307.80 184 3 Loin, top butt, boneless 3 14,051 321.00 334.75 333.78 185A 4 Loin, bottom sirloin, flap 6 20,615 374.90 406.00 381.26 185B 1 Loin, ball-tip, bnls, heavy 3 119,960 266.00 266.00 266.00 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 7 13,170 935.00 975.00 965.24 191A 4 Loin, butt tender, trimmed 3 5,567 875.00 875.00 875.00 193 4 Flank, flank steak (IM) 5 4,529 420.00 439.00 424.07 ------------------------------------------------------------------------------- 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 10,612 545.00 555.00 547.77 112A 3 Rib, ribeye, bnls, light 3 12,309 600.00 610.00 600.87 112A 3 Rib, ribeye, bnls, heavy 7 8,134 599.38 624.00 607.07 113C 1 Chuck, semi-bnls, neck/off 7 2,763 194.00 210.00 200.03 114 1 Chuck, shoulder clod 4 4,997 184.95 188.00 185.16 114A 3 Chuck, shoulder clod, trmd 5 20,595 186.57 195.40 190.87 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 12 97,221 197.00 215.00 198.17 116B 1 Chuck, chuck tender (IM) 3 5,559 213.00 220.00 214.30

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 8 41,378 191.89 195.13 194.57 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

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 168 1 Round, top inside round 7 17,029 190.00 199.84 195.53 168 3 Round, top inside round 4 7,527 200.00 210.00 201.84 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 8 66,598 193.13 208.00 195.36 171C 3 Round, eye of round (IM) 3 1,613 215.00 215.80 215.53 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 4,628 515.85 536.00 523.56 175 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 5 2,300 514.00 516.00 514.99 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 7 25,364 293.76 327.00 301.54 185A 4 Loin, bottom sirloin, flap 5 43,151 370.00 400.00 370.83 185B 1 Loin, ball-tip, bnls, heavy 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 13 16,548 920.00 950.30 928.79 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 2,170 409.94 415.00 412.70 ------------------------------------------------------------------------------- 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) 10 12,424 342.50 369.75 353.22 121C 4 Plate, Outside Skirt (IM) 3 2,667 519.50 540.00 532.55 121E 6 Outside Skirt, pld (IM) 5 8,642 740.00 781.50 759.17

Cap, Wedge Meat & (IM) Lean 7 10,591 235.00 250.50 238.12

Pectoral Meat 10 25,226 224.00 250.80 234.88 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 23 219,373 144.80 175.00 155.73 Ground Beef 75% Ground Beef 81% 8 25,964 172.00 192.89 175.25 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 7 13,876 241.00 255.80 242.33 Ground Beef Chuck 80% 14 134,409 169.80 180.00 178.16 Ground Beef Round 85% 10 40,089 210.00 216.00 210.86 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% 0 0 Blended Ground Beef 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% 0 0 Blended Ground Beef Sirloin 90% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 13 312,715 59.00 85.50 72.73 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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