Bloomberg News

USDA Boxed Beef Cutout Closing Prices for May 2

May 02, 2012

May 2 (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: 191.18 186.43 Change from prior day: 0.71 (0.03) ------------------------------------------------------------------------------- Choice/Select spread: 4.75

Total Load Count (Cuts, Trimmings, Grids): 235 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 273.53 260.62 Primal Chuck 157.71 156.93 Primal Round 161.33 160.02 Primal Loin 271.63 258.50 Primal Brisket 132.67 131.12 Primal Short Plate 135.65 138.14 Primal Flank 106.00 103.50 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/01 87 62 11 31 190 190.47 186.46 04/30 72 52 7 23 153 190.40 185.94 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.47 186.62 -------------------------------------------------------------------------------- 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 98.47 loads 3,938,641 pounds Select Cuts 80.94 loads 3,237,798 pounds Trimmings 13.98 loads 559,280 pounds Ground Beef 41.59 load 1,663,408 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 62 64,185 530.00 569.00 548.05 112A 3 Rib, ribeye, bnls, light 26 46,306 580.00 630.00 600.71 112A 3 Rib, ribeye, bnls, heavy 126 144,781 580.83 635.00 604.18 113C 1 Chuck, semi-bnls, neck/off 9 83,023 189.00 206.00 194.55 114 1 Chuck, shoulder clod 26 150,017 188.79 202.00 196.69 114A 3 Chuck, shoulder clod, trmd 73 248,900 198.79 216.00 204.94 114D 3 Chuck, clod, top blade 8 7,184 240.00 261.50 256.18 114E 3 Chuck, clod, arm roast 11 36,086 218.30 250.00 228.51 114F 5 Chuck, clod tender (IM) 21 58,236 315.00 410.00 337.14 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 126 258,498 211.79 230.00 218.44 116B 1 Chuck, chuck tender (IM) 42 58,239 211.62 224.00 219.71

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 122 180,892 187.00 207.00 196.08 120A 3 Brisket, point/off, bnls 28 22,527 297.00 330.65 310.00 123A 3 Short Plate, short rib 52 46,122 305.00 360.25 342.50 130 4 Chuck, short rib 64 93,507 183.00 233.00 196.70 160 1 Round, bone-in 5 6,782 194.00 202.00 197.00 161 1 Round, boneless 8 10,985 204.98 211.50 209.29

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 108 124,830 220.00 240.00 229.77 168 1 Round, top inside round 102 217,862 191.79 206.00 198.93 168 3 Round, top inside round 33 170,518 200.00 220.00 208.97 169 5 Round, top inside, denuded 39 90,227 227.00 249.60 240.21

3 Round, top inside, side off 170 1 Round, bottom gooseneck 13 8,320 190.00 210.00 198.95 171B 3 Round, outside round 85 260,549 190.00 212.00 200.22 171C 3 Round, eye of round (IM) 76 94,432 202.95 228.70 212.04 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 40 127,913 558.60 610.51 571.01 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 18 9,146 491.76 526.00 519.22 180 3 Loin, strip, bnls, 0x1 85 83,939 561.89 611.00 591.29 184 1 Loin, top butt, bnls, heavy 58 40,626 315.00 326.00 321.17 184 3 Loin, top butt, boneless 52 169,707 314.00 341.00 325.48 185A 4 Loin, bottom sirloin, flap 68 116,190 410.00 456.00 427.03 185B 1 Loin, ball-tip, bnls, heavy 46 68,943 210.00 241.00 230.04 185C 1 Loin, sirloin, tri-tip (IM) 25 130,765 281.50 331.63 308.36 185D 4 Loin, tri-tip, pld (IM) 38 36,875 430.00 455.65 437.05 189A 4 Loin, tndrloin, trmd, heavy 101 214,806 920.00 1100.50 950.77 191A 4 Loin, butt tender, trimmed 4 1,658 904.25 970.00 920.50 193 4 Flank, flank steak (IM) 20 30,689 377.00 425.00 394.53 ------------------------------------------------------------------------------- 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 25 34,482 509.00 543.00 516.20 112A 3 Rib, ribeye, bnls, light 9 12,982 540.25 584.00 554.94 112A 3 Rib, ribeye, bnls, heavy 49 78,776 535.58 596.25 566.43 113C 1 Chuck, semi-bnls, neck/off 9 21,353 182.73 200.00 191.83 114 1 Chuck, shoulder clod 20 65,463 188.79 200.00 197.03 114A 3 Chuck, shoulder clod, trmd 19 100,864 198.79 216.00 207.38 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 24 35,927 330.32 395.00 336.97 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 53 332,741 210.00 226.30 216.33 116B 1 Chuck, chuck tender (IM) 10 17,681 215.00 220.00 217.23

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 17 61,225 185.00 200.00 192.58 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 6 4,394 249.00 341.00 259.08 130 4 Chuck, short rib 12 78,453 184.00 253.00 197.39 160 1 Round, bone-in 161 1 Round, boneless 12 14,670 202.00 229.00 208.77

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 51,165 220.79 235.00 226.51 168 1 Round, top inside round 41 105,633 189.40 212.89 194.85 168 3 Round, top inside round 20 45,285 200.00 215.00 207.58 169 5 Round, top inside, denuded 10 9,217 231.00 248.09 238.97

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 38,575 189.73 206.00 195.37 171B 3 Round, outside round 31 124,574 190.00 215.00 200.45 171C 3 Round, eye of round (IM) 35 110,833 197.34 220.00 205.59 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 32 64,066 483.03 546.00 508.16 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 28 61,728 515.93 555.00 540.59 184 1 Loin, top butt, bnls, heavy 25 232,360 290.00 312.00 291.54 184 3 Loin, top butt, boneless 34 90,776 311.62 334.00 320.74 185A 4 Loin, bottom sirloin, flap 5 80,365 410.00 426.00 415.58 185B 1 Loin, ball-tip, bnls, heavy 22 37,425 210.00 241.63 223.09 185C 1 Loin, sirloin, tri-tip (IM) 18 124,434 273.80 325.00 294.83 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 42 169,986 910.00 949.97 918.86 191A 4 Loin, butt tender, trimmed 5 2,683 930.00 930.36 930.04 193 4 Flank, flank steak (IM) 16 30,519 354.41 395.25 367.40 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 21,637 104.50 125.00 111.28 121D 4 Plate, Inside Skirt (IM) 78 503,195 327.00 365.00 350.20 121C 4 Plate, Outside Skirt (IM) 21 19,717 494.00 551.00 516.14 121E 6 Outside Skirt, pld (IM) 16 12,323 670.00 755.00 705.24

Cap, Wedge Meat & (IM) Lean 70 317,581 221.42 242.20 230.50

Pectoral Meat 53 290,239 213.63 250.00 221.68 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 58 307,497 159.95 188.00 170.79 Ground Beef 75% Ground Beef 81% 92 416,615 196.00 222.25 212.76 Ground Beef 85% Ground Beef 90% Ground Beef 93% 28 141,849 256.41 278.50 265.42 Ground Beef Chuck 80% 51 328,598 209.01 228.00 217.35 Ground Beef Round 85% 44 133,531 220.00 231.00 224.83 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% 13 106,640 204.25 222.00 215.55 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 22 559,280 81.00 91.00 85.61 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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