Bloomberg News

USDA Boxed Beef Cutout Closing Prices for May 3

May 03, 2012

May 3 (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: 190.96 186.90 Change from prior day: (0.22) 0.47 ------------------------------------------------------------------------------- Choice/Select spread: 4.06

Total Load Count (Cuts, Trimmings, Grids): 210 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 270.44 262.03 Primal Chuck 158.46 157.07 Primal Round 161.24 160.22 Primal Loin 271.46 259.91 Primal Brisket 132.53 131.06 Primal Short Plate 135.20 137.83 Primal Flank 106.26 102.13 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/02 98 81 14 42 235 191.18 186.43 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.61 186.44 -------------------------------------------------------------------------------- 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 104.75 loads 4,190,075 pounds Select Cuts 45.64 loads 1,825,758 pounds Trimmings 19.91 loads 796,435 pounds Ground Beef 40.01 load 1,600,554 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 33 348,802 507.39 563.00 517.40 112A 3 Rib, ribeye, bnls, light 16 39,701 573.00 635.00 588.48 112A 3 Rib, ribeye, bnls, heavy 56 139,062 580.79 625.00 593.23 113C 1 Chuck, semi-bnls, neck/off 7 19,445 188.00 204.25 192.71 114 1 Chuck, shoulder clod 30 172,114 188.00 203.50 195.49 114A 3 Chuck, shoulder clod, trmd 40 212,225 195.00 218.00 206.27 114D 3 Chuck, clod, top blade 11 30,932 250.00 264.50 253.35 114E 3 Chuck, clod, arm roast 18 159,656 203.00 260.00 209.07 114F 5 Chuck, clod tender (IM) 8 17,994 327.80 410.00 337.65 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 43 135,992 207.00 225.63 217.43 116B 1 Chuck, chuck tender (IM) 18 60,575 205.00 227.50 211.00

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 49 121,053 185.00 208.50 196.60 120A 3 Brisket, point/off, bnls 12 7,075 308.00 329.00 320.00 123A 3 Short Plate, short rib 18 41,886 268.00 350.00 292.78 130 4 Chuck, short rib 22 107,521 185.00 235.00 198.79 160 1 Round, bone-in 7 3,411 202.00 211.00 206.92 161 1 Round, boneless 5 9,316 207.00 215.28 208.13

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 56 167,692 219.00 238.00 228.35 168 1 Round, top inside round 16 56,405 195.00 205.04 196.19 168 3 Round, top inside round 28 311,870 199.79 217.00 204.34 169 5 Round, top inside, denuded 14 30,987 227.00 251.00 242.00

3 Round, top inside, side off 170 1 Round, bottom gooseneck 8 11,123 185.25 211.25 199.36 171B 3 Round, outside round 48 278,022 194.00 218.00 203.57 171C 3 Round, eye of round (IM) 38 200,336 206.00 227.00 209.72 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 24 11,990 565.00 603.00 579.58 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 12 18,480 511.79 544.00 518.58 180 3 Loin, strip, bnls, 0x1 32 144,510 569.00 608.00 577.70 184 1 Loin, top butt, bnls, heavy 9 7,963 319.50 326.79 323.92 184 3 Loin, top butt, boneless 29 40,492 320.00 343.30 331.05 185A 4 Loin, bottom sirloin, flap 33 114,084 402.39 455.00 416.69 185B 1 Loin, ball-tip, bnls, heavy 25 88,763 225.00 244.00 228.26 185C 1 Loin, sirloin, tri-tip (IM) 16 28,268 289.00 327.00 307.48 185D 4 Loin, tri-tip, pld (IM) 12 9,448 435.00 462.63 447.65 189A 4 Loin, tndrloin, trmd, heavy 52 142,739 925.00 1065.00 939.23 191A 4 Loin, butt tender, trimmed 5 8,508 916.89 965.00 923.74 193 4 Flank, flank steak (IM) 16 9,807 388.00 425.00 407.02 ------------------------------------------------------------------------------- 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 17 34,249 500.00 535.00 522.70 112A 3 Rib, ribeye, bnls, light 8 12,460 556.63 600.00 584.49 112A 3 Rib, ribeye, bnls, heavy 22 36,993 550.46 605.00 565.37 113C 1 Chuck, semi-bnls, neck/off 10 8,701 195.00 204.50 200.44 114 1 Chuck, shoulder clod 15 39,592 187.00 201.00 196.21 114A 3 Chuck, shoulder clod, trmd 26 67,980 197.00 217.00 207.27 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 9 23,996 327.80 410.00 331.72 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 170,017 202.00 223.30 216.16 116B 1 Chuck, chuck tender (IM) 20 91,311 212.00 226.00 214.52

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 13 74,090 191.21 200.00 194.33 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 24,340 248.52 340.00 259.53 130 4 Chuck, short rib 17 46,430 188.40 239.00 201.72 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 25,987 227.00 236.25 230.98 168 1 Round, top inside round 16 50,557 191.00 204.25 195.10 168 3 Round, top inside round 25 129,349 197.00 217.00 203.30 169 5 Round, top inside, denuded 9 7,313 231.00 251.89 240.78

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 10 84,320 190.00 210.00 191.23 171B 3 Round, outside round 24 87,533 192.00 212.25 200.68 171C 3 Round, eye of round (IM) 18 19,539 203.00 221.05 213.92 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 17 15,341 516.00 555.00 532.06 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 20 31,180 521.58 565.00 544.04 184 1 Loin, top butt, bnls, heavy 11 24,224 307.22 321.79 309.83 184 3 Loin, top butt, boneless 29 115,416 311.00 331.00 319.54 185A 4 Loin, bottom sirloin, flap 12 88,855 406.84 430.50 414.35 185B 1 Loin, ball-tip, bnls, heavy 10 35,637 220.00 241.00 223.80 185C 1 Loin, sirloin, tri-tip (IM) 7 6,009 301.00 320.00 308.72 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 14 24,365 910.75 948.63 918.21 191A 4 Loin, butt tender, trimmed 4 5,598 925.00 930.00 926.24 193 4 Flank, flank steak (IM) 6 8,835 371.00 386.00 374.85 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 14 31,960 87.00 123.00 94.30 121D 4 Plate, Inside Skirt (IM) 26 44,662 340.00 365.15 352.00 121C 4 Plate, Outside Skirt (IM) 17 38,741 490.00 552.00 509.58 121E 6 Outside Skirt, pld (IM) 7 12,580 655.00 755.00 662.36

Cap, Wedge Meat & (IM) Lean 46 233,853 218.00 250.00 228.26

Pectoral Meat 32 77,913 214.00 246.00 222.04 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 40 683,187 160.39 188.00 164.46 Ground Beef 75% Ground Beef 81% 54 122,426 195.81 222.24 212.50 Ground Beef 85% Ground Beef 90% Ground Beef 93% 17 38,034 266.50 278.50 276.70 Ground Beef Chuck 80% 30 409,126 200.41 223.75 214.10 Ground Beef Round 85% 11 13,627 221.00 229.00 225.48 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% 7 32,801 202.60 216.00 214.57 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% 0 0 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 26 796,435 80.17 93.00 85.73 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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