Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 191.26 186.68 Change from prior day: 0.79 0.22 ------------------------------------------------------------------------------- Choice/Select spread: 4.58

Total Load Count (Cuts, Trimmings, Grids): 130 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 274.12 260.98 Primal Chuck 157.44 156.81 Primal Round 161.66 160.44 Primal Loin 271.24 258.84 Primal Brisket 133.20 131.46 Primal Short Plate 136.38 138.67 Primal Flank 106.85 104.19 -------------------------------------------------------------------------------- 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 52.01 loads 2,080,299 pounds Select Cuts 46.44 loads 1,857,642 pounds Trimmings 0.00 loads 0 pounds Ground Beef 31.76 load 1,270,287 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 27 40,613 530.00 565.00 549.72 112A 3 Rib, ribeye, bnls, light 22 24,829 590.00 630.00 615.28 112A 3 Rib, ribeye, bnls, heavy 53 84,978 580.83 633.00 601.91 113C 1 Chuck, semi-bnls, neck/off 6 17,784 193.00 206.00 194.25 114 1 Chuck, shoulder clod 11 41,229 188.79 202.00 197.35 114A 3 Chuck, shoulder clod, trmd 30 175,809 198.79 214.00 203.61 114D 3 Chuck, clod, top blade 4 3,423 240.00 255.00 251.97 114E 3 Chuck, clod, arm roast 8 9,767 220.00 240.00 228.12 114F 5 Chuck, clod tender (IM) 14 34,363 315.00 410.00 337.82 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 42 119,641 211.79 230.00 216.33 116B 1 Chuck, chuck tender (IM) 13 24,237 214.00 221.00 219.07

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 44 101,231 187.00 205.00 197.17 120A 3 Brisket, point/off, bnls 20 13,405 304.50 330.65 314.75 123A 3 Short Plate, short rib 19 25,240 320.00 360.25 348.92 130 4 Chuck, short rib 15 32,307 183.00 233.00 199.67 160 1 Round, bone-in 5 6,782 194.00 202.00 197.00 161 1 Round, boneless 6 6,960 204.98 211.50 209.75

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 39 79,035 220.79 240.00 228.03 168 1 Round, top inside round 37 105,852 191.79 205.00 197.74 168 3 Round, top inside round 20 111,787 203.00 217.90 212.11 169 5 Round, top inside, denuded 21 26,295 227.00 248.00 233.33

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 10 3,512 190.65 210.00 204.50 171B 3 Round, outside round 33 129,039 195.00 212.00 202.64 171C 3 Round, eye of round (IM) 29 41,872 204.00 222.30 211.05 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 25 116,266 565.00 610.15 571.01 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 17 8,546 491.76 526.00 519.87 180 3 Loin, strip, bnls, 0x1 33 26,685 585.00 607.00 595.25 184 1 Loin, top butt, bnls, heavy 26 24,066 315.00 325.00 320.20 184 3 Loin, top butt, boneless 22 128,945 314.00 336.25 322.57 185A 4 Loin, bottom sirloin, flap 19 58,757 420.00 456.00 426.40 185B 1 Loin, ball-tip, bnls, heavy 20 36,080 223.89 240.65 230.15 185C 1 Loin, sirloin, tri-tip (IM) 13 88,447 300.10 325.00 309.78 185D 4 Loin, tri-tip, pld (IM) 13 25,853 431.41 455.65 435.64 189A 4 Loin, tndrloin, trmd, heavy 40 97,123 920.00 970.00 938.67 191A 4 Loin, butt tender, trimmed 4 1,658 904.25 970.00 920.50 193 4 Flank, flank steak (IM) 12 10,130 378.00 425.00 406.41 ------------------------------------------------------------------------------- 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 15 28,609 509.00 535.50 514.97 112A 3 Rib, ribeye, bnls, light 7 8,946 540.25 584.00 553.54 112A 3 Rib, ribeye, bnls, heavy 33 47,970 540.58 596.25 566.89 113C 1 Chuck, semi-bnls, neck/off 4 12,738 182.73 200.00 187.15 114 1 Chuck, shoulder clod 13 50,212 188.79 200.00 197.53 114A 3 Chuck, shoulder clod, trmd 13 43,492 198.79 216.00 206.79 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 11 8,977 340.00 395.00 347.90 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 206,478 210.00 223.00 215.60 116B 1 Chuck, chuck tender (IM) 6 8,473 215.00 220.00 217.13

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 14 50,162 185.00 200.00 192.49 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 5 14,251 190.00 280.00 228.68 160 1 Round, bone-in 0 0 161 1 Round, boneless 6 8,801 206.00 212.00 209.32

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 13 24,643 220.79 245.50 226.56 168 1 Round, top inside round 30 89,258 189.40 208.25 194.50 168 3 Round, top inside round 16 34,281 203.80 211.46 207.70 169 5 Round, top inside, denuded 5 1,665 231.00 248.09 242.52

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 2,244 189.73 206.00 201.37 171B 3 Round, outside round 15 54,350 201.40 211.25 203.79 171C 3 Round, eye of round (IM) 21 50,772 203.00 220.00 208.49 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 34,199 483.03 546.00 519.50 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 23 21,805 515.93 555.00 547.05 184 1 Loin, top butt, bnls, heavy 14 15,256 304.00 312.00 310.36 184 3 Loin, top butt, boneless 27 83,950 313.50 333.50 320.64 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 15 18,116 210.00 236.00 222.51 185C 1 Loin, sirloin, tri-tip (IM) 10 58,118 295.00 320.00 300.94 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 24 52,555 910.00 949.97 920.21 191A 4 Loin, butt tender, trimmed 4 1,890 930.00 930.36 930.05 193 4 Flank, flank steak (IM) 9 14,975 354.41 395.25 361.75 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 19,715 111.00 125.00 111.82 121D 4 Plate, Inside Skirt (IM) 58 458,327 339.00 365.00 350.10 121C 4 Plate, Outside Skirt (IM) 17 15,811 501.10 551.00 517.25 121E 6 Outside Skirt, pld (IM) 7 3,474 672.00 755.00 742.80

Cap, Wedge Meat & (IM) Lean 39 141,401 221.42 242.00 230.46

Pectoral Meat 32 117,394 213.63 260.00 224.83 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 38 196,746 163.93 188.00 174.00 Ground Beef 75% Ground Beef 81% 73 335,442 201.27 222.25 213.84 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 25 125,292 256.41 278.50 265.54 Ground Beef Chuck 80% 44 285,978 212.00 228.00 217.95 Ground Beef Round 85% 35 105,386 220.00 231.00 225.72 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% 8 77,015 204.25 221.00 215.09 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 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 0 0 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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