Bloomberg News

USDA Boxed Beef Cutout Midday Prices for April 9

April 09, 2012

April 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: 178.25 176.59 Change from prior day: 0.64 1.29 ------------------------------------------------------------------------------- Choice/Select spread: 1.66

Total Load Count (Cuts, Trimmings, Grids): 112 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 263.44 251.42 Primal Chuck 141.98 141.57 Primal Round 153.72 154.36 Primal Loin 252.79 249.90 Primal Brisket 122.65 122.69 Primal Short Plate 125.54 131.33 Primal Flank 99.72 95.97 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/06 74 45 14 21 155 177.61 175.30 04/05 138 68 40 36 281 178.51 176.66 04/04 118 74 25 49 266 180.64 178.37 04/03 97 44 15 26 182 183.09 180.91 04/02 79 49 21 26 174 184.10 182.35 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 180.79 178.72 -------------------------------------------------------------------------------- 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 44.67 loads 1,786,645 pounds Select Cuts 15.55 loads 621,941 pounds Trimmings 38.33 loads 1,533,222 pounds Ground Beef 13.93 load 557,164 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 20 142,793 508.63 560.52 526.04 112A 3 Rib, ribeye, bnls, light 5 11,261 581.00 635.00 591.80 112A 3 Rib, ribeye, bnls, heavy 22 46,618 572.00 644.00 588.17 113C 1 Chuck, semi-bnls, neck/off 4 7,788 181.00 194.00 187.78 114 1 Chuck, shoulder clod 0 0 114A 3 Chuck, shoulder clod, trmd 11 43,773 182.65 201.42 184.56 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 5 8,717 219.79 235.38 222.21 114F 5 Chuck, clod tender (IM) 8 6,292 310.05 410.00 348.05 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 22 106,618 188.00 202.50 194.31 116B 1 Chuck, chuck tender (IM) 11 16,296 203.00 221.42 208.50

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 37,713 184.00 196.00 189.03 120A 3 Brisket, point/off, bnls 3 2,947 312.00 326.00 318.76 123A 3 Short Plate, short rib 9 34,479 332.16 378.00 359.28 130 4 Chuck, short rib 10 27,167 180.00 226.42 196.96 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 37 193,706 202.00 226.42 206.86 168 1 Round, top inside round 11 36,918 191.00 200.00 195.67 168 3 Round, top inside round 6 9,575 201.00 210.00 207.51 169 5 Round, top inside, denuded 13 71,697 239.00 245.00 242.18

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 30 361,379 172.00 203.55 178.87 171C 3 Round, eye of round (IM) 21 49,093 200.25 212.50 206.52 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 13 21,709 522.00 545.00 529.03 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 7 5,136 450.00 484.00 456.85 180 3 Loin, strip, bnls, 0x1 32 176,175 514.29 550.00 519.85 184 1 Loin, top butt, bnls, heavy 5 1,605 295.00 313.74 299.62 184 3 Loin, top butt, boneless 23 81,191 305.00 330.00 314.24 185A 4 Loin, bottom sirloin, flap 7 18,270 365.00 375.00 371.79 185B 1 Loin, ball-tip, bnls, heavy 6 5,051 258.32 276.42 267.85 185C 1 Loin, sirloin, tri-tip (IM) 5 4,080 303.85 316.00 308.17 185D 4 Loin, tri-tip, pld (IM) 6 4,454 450.25 478.11 452.11 189A 4 Loin, tndrloin, trmd, heavy 19 48,884 920.00 971.50 928.16 191A 4 Loin, butt tender, trimmed 8 4,046 884.00 925.00 894.32 193 4 Flank, flank steak (IM) 7 4,341 405.00 440.00 414.42 ------------------------------------------------------------------------------- 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 3,353 496.72 547.63 524.24 112A 3 Rib, ribeye, bnls, light 5 4,892 542.00 601.00 567.63 112A 3 Rib, ribeye, bnls, heavy 9 4,710 553.52 610.00 595.79 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 7 26,554 188.00 193.74 189.76 114A 3 Chuck, shoulder clod, trmd 10 37,230 185.80 202.50 187.98 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 7 17,712 315.50 331.00 327.23 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 13 99,505 193.00 213.74 195.05 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 13 52,746 184.00 196.41 190.60 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 19,152 255.00 267.00 255.30 130 4 Chuck, short rib 4 29,174 180.00 228.74 180.96 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 11 29,357 202.00 224.09 209.45 168 1 Round, top inside round 6 15,827 186.00 204.00 192.16 168 3 Round, top inside round 9 43,926 194.00 209.20 200.84 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 7 12,856 185.00 202.60 189.93 171C 3 Round, eye of round (IM) 6 17,360 195.00 220.50 201.27 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 7 2,260 516.00 530.00 522.05 175 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 12,208 500.00 515.00 514.19 184 1 Loin, top butt, bnls, heavy 3 5,354 285.00 300.00 287.56 184 3 Loin, top butt, boneless 6 3,937 298.11 315.00 311.50 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 185C 1 Loin, sirloin, tri-tip (IM) 3 35,594 300.88 315.00 301.65 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 12 34,721 910.00 990.00 914.20 191A 4 Loin, butt tender, trimmed 6 6,512 859.79 906.42 868.67 193 4 Flank, flank steak (IM) 4 4,106 394.00 406.00 400.88 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 15,619 85.00 130.00 89.83 121D 4 Plate, Inside Skirt (IM) 10 99,956 349.62 375.00 366.77 121C 4 Plate, Outside Skirt (IM) 3 2,055 517.50 562.00 534.11 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 14 90,253 235.00 245.50 238.22

Pectoral Meat 12 25,915 220.00 260.00 228.95 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 243,004 159.00 170.50 162.36 Ground Beef 75% Ground Beef 81% 12 69,559 171.00 194.50 177.17 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 6 8,898 245.00 266.50 253.17 Ground Beef Chuck 80% 7 124,710 175.00 183.65 181.26 Ground Beef Round 85% Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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% 4 18,004 197.60 199.90 198.29 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 40 1,533,222 45.00 62.00 49.14 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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