Bloomberg News

USDA Boxed Beef Cutout Closing Prices for April 16

April 16, 2012

April 16 (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: 181.26 180.49 Change from prior day: 2.75 3.16 ------------------------------------------------------------------------------- Choice/Select spread: 0.77

Total Load Count (Cuts, Trimmings, Grids): 160 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 261.69 255.49 Primal Chuck 149.68 148.66 Primal Round 157.45 157.44 Primal Loin 253.31 253.92 Primal Brisket 123.71 120.56 Primal Short Plate 125.88 130.54 Primal Flank 96.86 94.77 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/13 75 57 23 16 172 178.51 177.33 04/12 113 69 16 30 228 176.70 176.76 04/11 144 77 91 51 364 177.06 177.68 04/10 140 68 10 39 258 178.08 177.35 04/09 72 27 47 25 171 178.61 176.88 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 177.79 177.20 -------------------------------------------------------------------------------- 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 74.84 loads 2,993,474 pounds Select Cuts 33.97 loads 1,358,829 pounds Trimmings 15.97 loads 638,828 pounds Ground Beef 35.16 load 1,406,370 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 38 204,648 497.96 562.00 512.04 112A 3 Rib, ribeye, bnls, light 12 21,598 570.00 639.45 603.18 112A 3 Rib, ribeye, bnls, heavy 48 44,702 570.00 635.00 586.24 113C 1 Chuck, semi-bnls, neck/off 4 2,399 185.21 195.97 193.88 114 1 Chuck, shoulder clod 6 24,668 172.79 191.00 176.54 114A 3 Chuck, shoulder clod, trmd 18 63,741 183.79 208.00 189.94 114D 3 Chuck, clod, top blade 6 52,330 234.00 255.00 235.96 114E 3 Chuck, clod, arm roast 11 14,753 204.25 225.00 211.69 114F 5 Chuck, clod tender (IM) 10 6,166 327.00 410.00 336.43 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 51 420,953 195.00 219.60 210.15 116B 1 Chuck, chuck tender (IM) 18 50,914 200.50 217.99 212.47

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 21 65,567 182.63 200.30 193.29 120A 3 Brisket, point/off, bnls 8 4,132 315.00 344.00 321.43 123A 3 Short Plate, short rib 33 66,804 270.00 382.00 350.43 130 4 Chuck, short rib 25 93,455 180.00 225.00 194.92 160 1 Round, bone-in 8 26,665 192.00 213.00 201.24 161 1 Round, boneless 8 18,160 204.00 225.12 211.14

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 48 158,582 204.24 228.50 216.09 168 1 Round, top inside round 12 49,004 193.50 212.89 202.55 168 3 Round, top inside round 32 260,773 196.00 220.00 210.89 169 5 Round, top inside, denuded 25 89,716 238.00 250.66 243.04

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 6,338 179.95 197.00 194.02 171B 3 Round, outside round 37 133,367 175.00 212.00 192.81 171C 3 Round, eye of round (IM) 52 77,383 200.00 222.60 209.29 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 18 30,381 526.21 550.00 533.67 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 4 3,054 461.25 492.52 471.02 180 3 Loin, strip, bnls, 0x1 41 202,312 517.00 558.00 521.51 184 1 Loin, top butt, bnls, heavy 9 17,430 295.00 310.21 297.31 184 3 Loin, top butt, boneless 47 366,713 296.20 340.00 315.08 185A 4 Loin, bottom sirloin, flap 22 66,056 380.00 425.00 405.73 185B 1 Loin, ball-tip, bnls, heavy 7 15,013 235.00 256.00 243.13 185C 1 Loin, sirloin, tri-tip (IM) 15 30,384 293.06 335.21 310.20 185D 4 Loin, tri-tip, pld (IM) 9 2,417 411.00 457.63 434.22 189A 4 Loin, tndrloin, trmd, heavy 23 46,034 889.27 1077.00 949.19 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 17 7,433 387.63 432.00 409.63 ------------------------------------------------------------------------------- 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 6 4,504 520.06 555.00 523.47 112A 3 Rib, ribeye, bnls, light 8 6,814 561.42 601.00 584.08 112A 3 Rib, ribeye, bnls, heavy 21 130,694 547.00 605.00 568.05 113C 1 Chuck, semi-bnls, neck/off 5 3,184 190.00 194.75 193.43 114 1 Chuck, shoulder clod 9 14,438 178.39 193.00 188.90 114A 3 Chuck, shoulder clod, trmd 14 39,898 189.36 202.00 198.07 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 5,641 329.00 354.89 331.47 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 28 115,098 194.00 217.00 207.36 116B 1 Chuck, chuck tender (IM) 7 20,571 199.00 221.40 212.46

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 4 2,920 182.63 195.00 186.49 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 7,447 250.00 366.00 294.56 130 4 Chuck, short rib 8 49,781 182.00 222.76 188.29 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 18 61,583 198.00 226.00 214.99 168 1 Round, top inside round 10 43,775 195.89 204.00 202.30 168 3 Round, top inside round 11 34,896 205.52 215.50 210.88 169 5 Round, top inside, denuded 7 30,002 232.35 250.00 243.06

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 12 55,363 183.00 210.00 195.12 171C 3 Round, eye of round (IM) 13 78,182 201.40 224.00 212.10 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 10 1,488 503.76 545.00 518.19 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 13 60,560 490.20 535.00 505.02 184 1 Loin, top butt, bnls, heavy 13 98,641 294.02 309.50 296.03 184 3 Loin, top butt, boneless 15 110,451 295.00 335.00 306.75 185A 4 Loin, bottom sirloin, flap 5 6,461 382.97 425.00 391.54 185B 1 Loin, ball-tip, bnls, heavy 6 10,497 227.00 251.79 239.53 185C 1 Loin, sirloin, tri-tip (IM) 5 3,176 301.21 337.76 311.62 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 11 16,418 900.00 1025.00 923.11 191A 4 Loin, butt tender, trimmed 7 3,410 858.21 895.65 869.13 193 4 Flank, flank steak (IM) 5 20,736 360.94 395.00 369.40 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 41,681 73.50 130.00 75.69 121D 4 Plate, Inside Skirt (IM) 20 24,389 340.79 384.00 356.69 121C 4 Plate, Outside Skirt (IM) 6 2,629 525.00 551.00 540.76 121E 6 Outside Skirt, pld (IM) 10 16,832 680.00 730.60 718.94

Cap, Wedge Meat & (IM) Lean 31 129,087 235.00 245.00 237.82

Pectoral Meat 30 112,990 223.63 277.60 227.81 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 32 391,954 152.96 178.50 168.77 Ground Beef 75% 0 0 Ground Beef 81% 29 179,483 165.00 204.00 183.77 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 18 60,237 237.96 279.50 258.96 Ground Beef Chuck 80% 30 427,155 182.00 204.89 197.11 Ground Beef Round 85% 10 18,593 216.00 224.00 217.14 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% 12 56,659 189.25 215.00 202.20 Blended Ground Beef 85% 0 0 Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% 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 19 416,468 57.12 63.00 60.67 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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