Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 190.67 187.04 Change from prior day: 0.34 1.20 ------------------------------------------------------------------------------- Choice/Select spread: 3.63

Total Load Count (Cuts, Trimmings, Grids): 105 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 267.85 258.45 Primal Chuck 158.88 157.56 Primal Round 161.12 160.40 Primal Loin 270.99 261.07 Primal Brisket 129.83 129.25 Primal Short Plate 136.93 139.20 Primal Flank 106.72 105.13 -------------------------------------------------------------------------------- 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 45.72 loads 1,828,677 pounds Select Cuts 30.55 loads 1,222,149 pounds Trimmings 7.91 loads 316,354 pounds Ground Beef 20.45 load 818,021 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 19 10,987 535.00 566.25 556.44 112A 3 Rib, ribeye, bnls, light 8 21,205 570.00 631.25 579.49 112A 3 Rib, ribeye, bnls, heavy 36 21,458 580.53 635.00 594.75 113C 1 Chuck, semi-bnls, neck/off 5 32,779 196.00 203.12 201.06 114 1 Chuck, shoulder clod 5 15,029 194.76 196.42 195.02 114A 3 Chuck, shoulder clod, trmd 14 31,804 198.73 219.82 209.70 114D 3 Chuck, clod, top blade 8 17,886 255.00 281.44 255.96 114E 3 Chuck, clod, arm roast 4 4,101 223.00 241.50 236.95 114F 5 Chuck, clod tender (IM) 8 4,510 332.00 391.00 354.14 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 26 108,555 214.38 226.74 218.29 116B 1 Chuck, chuck tender (IM) 10 5,166 209.26 231.69 218.06

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 28 72,592 188.98 208.00 194.37 120A 3 Brisket, point/off, bnls 10 4,299 298.98 324.98 312.39 123A 3 Short Plate, short rib 11 18,680 305.00 350.00 332.87 130 4 Chuck, short rib 11 43,919 190.00 230.83 190.84 160 1 Round, bone-in 6 16,661 187.00 211.50 200.17 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 30 104,504 220.79 235.00 227.53 168 1 Round, top inside round 19 226,009 189.40 213.00 193.31 168 3 Round, top inside round 27 553,085 198.10 223.00 204.13 169 5 Round, top inside, denuded 10 12,532 236.00 255.83 242.80

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 28 67,613 192.75 217.78 206.49 171C 3 Round, eye of round (IM) 25 24,006 205.00 232.60 216.19 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 3,495 573.68 582.89 575.65 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 25 11,425 573.18 612.78 592.51 184 1 Loin, top butt, bnls, heavy 6 2,028 310.00 326.42 317.40 184 3 Loin, top butt, boneless 14 42,013 318.40 349.82 331.05 185A 4 Loin, bottom sirloin, flap 13 34,176 418.44 451.50 422.64 185B 1 Loin, ball-tip, bnls, heavy 6 10,126 232.76 237.00 236.33 185C 1 Loin, sirloin, tri-tip (IM) 4 28,621 294.00 327.60 297.31 185D 4 Loin, tri-tip, pld (IM) 7 2,750 431.00 453.69 441.27 189A 4 Loin, tndrloin, trmd, heavy 14 11,087 935.28 1006.00 954.56 191A 4 Loin, butt tender, trimmed 7 2,001 873.40 935.89 898.99 193 4 Flank, flank steak (IM) 14 12,839 381.24 421.42 391.88 ------------------------------------------------------------------------------- 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 19 141,504 509.00 537.00 516.32 112A 3 Rib, ribeye, bnls, light 9 68,380 548.00 570.60 549.38 112A 3 Rib, ribeye, bnls, heavy 21 90,245 548.00 605.00 555.31 113C 1 Chuck, semi-bnls, neck/off 11 33,028 187.00 200.00 195.59 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 12 56,182 200.00 215.00 206.50 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 7 6,055 340.05 395.00 349.97 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 108,137 209.00 224.74 214.67 116B 1 Chuck, chuck tender (IM) 6 7,599 209.79 220.00 215.23

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 11 16,313 187.00 205.00 193.79 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 6,354 252.02 341.76 268.30 130 4 Chuck, short rib 7 13,043 183.00 227.76 202.96 160 1 Round, bone-in 161 1 Round, boneless 5 2,582 204.70 211.00 210.53

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 8 16,653 221.00 235.00 230.40 168 1 Round, top inside round 7 34,049 194.95 205.00 196.69 168 3 Round, top inside round 16 208,513 198.70 218.00 199.68 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 14 90,233 192.75 211.00 200.57 171C 3 Round, eye of round (IM) 14 17,079 215.00 221.82 217.73 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 16 13,767 516.00 540.50 525.38 175 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 10 5,607 520.83 534.00 524.87 184 1 Loin, top butt, bnls, heavy 4 13,425 307.50 319.50 310.75 184 3 Loin, top butt, boneless 11 29,070 305.00 330.00 311.52 185A 4 Loin, bottom sirloin, flap 5 17,106 424.58 445.00 426.27 185B 1 Loin, ball-tip, bnls, heavy 6 27,155 220.00 225.00 224.17 185C 1 Loin, sirloin, tri-tip (IM) 5 13,622 290.00 318.59 294.20 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 10 23,061 916.42 1011.00 939.03 191A 4 Loin, butt tender, trimmed 6 10,194 900.00 925.89 908.37 193 4 Flank, flank steak (IM) 10 20,946 370.00 419.40 384.45 ------------------------------------------------------------------------------- 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) 12 28,950 343.00 353.89 347.40 121C 4 Plate, Outside Skirt (IM) 6 9,580 486.00 522.50 496.80 121E 6 Outside Skirt, pld (IM) 7 6,826 670.00 760.60 697.83

Cap, Wedge Meat & (IM) Lean 22 70,770 225.00 244.50 234.50

Pectoral Meat 23 233,047 218.00 235.00 222.76 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 19 219,569 164.93 190.00 173.26 Ground Beef 75% 0 0 Ground Beef 81% 16 144,551 199.93 218.25 211.02 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 12 78,852 265.00 278.00 270.34 Ground Beef Chuck 80% 15 198,814 204.06 233.00 213.89 Ground Beef Round 85% 9 35,253 220.00 233.00 223.45 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% 0 0 Blended Ground Beef 81% 4 22,120 208.50 221.00 218.29 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 11 274,954 88.14 91.50 89.35 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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