Bloomberg News

USDA Boxed Beef Cutout Closing Prices for May 1

May 01, 2012

May 1 (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: 190.47 186.46 Change from prior day: 0.14 0.62 ------------------------------------------------------------------------------- Choice/Select spread: 4.01

Total Load Count (Cuts, Trimmings, Grids): 190 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 268.98 258.18 Primal Chuck 158.04 156.99 Primal Round 161.48 160.65 Primal Loin 270.21 259.09 Primal Brisket 130.74 129.84 Primal Short Plate 136.40 138.65 Primal Flank 106.54 104.86 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/30 72 52 7 23 153 190.33 185.84 04/27 65 53 8 23 149 190.27 186.05 04/26 90 40 7 25 162 190.74 187.30 04/25 65 48 18 45 176 190.49 187.34 04/24 89 45 16 33 182 189.94 187.21 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.35 186.75 -------------------------------------------------------------------------------- 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 86.87 loads 3,474,642 pounds Select Cuts 61.62 loads 2,464,967 pounds Trimmings 10.55 loads 422,178 pounds Ground Beef 30.69 load 1,227,435 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 29 55,309 516.00 566.25 537.11 112A 3 Rib, ribeye, bnls, light 13 24,531 570.00 631.25 582.55 112A 3 Rib, ribeye, bnls, heavy 55 33,204 580.53 635.00 600.37 113C 1 Chuck, semi-bnls, neck/off 11 42,283 196.00 204.50 201.13 114 1 Chuck, shoulder clod 16 26,301 192.89 204.00 195.89 114A 3 Chuck, shoulder clod, trmd 37 169,136 198.73 219.82 206.08 114D 3 Chuck, clod, top blade 19 26,862 239.90 281.44 253.73 114E 3 Chuck, clod, arm roast 13 36,329 218.75 241.50 224.39 114F 5 Chuck, clod tender (IM) 12 6,954 332.00 415.00 365.48 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 57 232,785 210.00 226.74 216.54 116B 1 Chuck, chuck tender (IM) 31 30,395 209.26 232.63 218.88

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 48 151,819 188.50 208.00 195.62 120A 3 Brisket, point/off, bnls 24 16,142 298.98 334.75 321.62 123A 3 Short Plate, short rib 17 22,818 295.50 361.89 333.70 130 4 Chuck, short rib 23 67,117 183.00 230.83 190.57 160 1 Round, bone-in 8 18,201 187.00 211.50 199.64 161 1 Round, boneless 6 6,002 207.00 211.50 208.80

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 64 178,675 220.79 237.50 228.65 168 1 Round, top inside round 23 231,398 189.40 213.00 193.50 168 3 Round, top inside round 41 649,923 198.10 223.00 204.72 169 5 Round, top inside, denuded 19 41,455 235.00 255.83 244.18

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 49 124,239 192.75 217.78 206.68 171C 3 Round, eye of round (IM) 51 57,301 205.00 232.60 215.45 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 24 48,836 558.60 591.00 570.76 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 6 5,231 501.00 534.00 513.29 180 3 Loin, strip, bnls, 0x1 41 25,036 573.18 612.78 592.87 184 1 Loin, top butt, bnls, heavy 12 4,518 310.00 326.42 317.69 184 3 Loin, top butt, boneless 37 276,513 315.00 349.82 322.12 185A 4 Loin, bottom sirloin, flap 28 143,581 415.00 451.50 419.57 185B 1 Loin, ball-tip, bnls, heavy 17 16,270 222.00 240.29 234.70 185C 1 Loin, sirloin, tri-tip (IM) 7 34,666 294.00 327.60 298.61 185D 4 Loin, tri-tip, pld (IM) 11 3,901 430.00 461.42 440.59 189A 4 Loin, tndrloin, trmd, heavy 26 41,769 913.10 1006.00 934.86 191A 4 Loin, butt tender, trimmed 9 2,127 873.40 935.89 899.99 193 4 Flank, flank steak (IM) 25 32,804 375.00 421.72 390.34 ------------------------------------------------------------------------------- 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 35 165,554 479.87 539.75 514.73 112A 3 Rib, ribeye, bnls, light 15 94,284 540.25 588.50 551.02 112A 3 Rib, ribeye, bnls, heavy 30 113,625 520.00 605.00 552.74 113C 1 Chuck, semi-bnls, neck/off 18 45,251 187.00 204.00 194.88 114 1 Chuck, shoulder clod 3 2,096 200.43 203.00 201.15 114A 3 Chuck, shoulder clod, trmd 26 129,477 199.00 215.00 205.92 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 9 20,709 315.00 395.00 327.31 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 48 284,090 209.00 224.74 213.63 116B 1 Chuck, chuck tender (IM) 14 26,546 208.21 221.00 215.55

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 19 45,225 187.00 205.09 193.50 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 9,977 250.00 341.76 276.29 130 4 Chuck, short rib 14 61,007 183.00 227.76 190.65 160 1 Round, bone-in 161 1 Round, boneless 7 4,066 204.70 215.50 211.05

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 22,797 221.00 235.50 230.00 168 1 Round, top inside round 10 36,203 194.95 208.55 197.13 168 3 Round, top inside round 31 281,882 198.70 218.00 200.69 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 25 141,875 192.75 212.00 201.22 171C 3 Round, eye of round (IM) 24 35,770 201.00 224.00 214.25 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 25 63,499 479.87 545.00 496.28 175 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 22 35,720 520.00 555.00 530.33 184 1 Loin, top butt, bnls, heavy 7 24,485 305.34 319.50 309.13 184 3 Loin, top butt, boneless 32 203,224 293.00 330.00 301.30 185A 4 Loin, bottom sirloin, flap 10 52,940 416.00 445.00 424.09 185B 1 Loin, ball-tip, bnls, heavy 13 28,089 220.00 246.50 224.27 185C 1 Loin, sirloin, tri-tip (IM) 10 49,701 289.00 318.59 294.28 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 16 26,377 916.42 1011.00 937.22 191A 4 Loin, butt tender, trimmed 11 12,468 900.00 930.00 910.41 193 4 Flank, flank steak (IM) 22 36,497 370.00 419.40 381.57 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 9,822 101.50 125.00 118.18 121D 4 Plate, Inside Skirt (IM) 43 225,255 336.00 362.00 345.00 121C 4 Plate, Outside Skirt (IM) 9 12,251 486.00 542.63 504.52 121E 6 Outside Skirt, pld (IM) 12 16,363 670.00 760.60 685.55

Cap, Wedge Meat & (IM) Lean 32 109,557 215.00 250.00 231.05

Pectoral Meat 41 297,250 217.89 252.63 223.06 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 54 383,810 160.00 190.00 170.99 Ground Beef 75% Ground Beef 81% 42 246,267 199.93 225.75 210.46 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 27 96,402 265.00 278.00 270.85 Ground Beef Chuck 80% 23 233,036 203.00 233.00 214.40 Ground Beef Round 85% 18 49,128 220.00 235.00 225.62 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 45,776 206.10 221.00 213.82 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 17 375,738 87.50 93.00 89.45 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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