Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 190.98 186.83 Change from prior day: (0.20) 0.40 ------------------------------------------------------------------------------- Choice/Select spread: 4.14

Total Load Count (Cuts, Trimmings, Grids): 149 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.28 262.17 Primal Chuck 158.28 156.87 Primal Round 161.53 160.12 Primal Loin 271.00 259.90 Primal Brisket 132.55 130.97 Primal Short Plate 135.26 137.88 Primal Flank 106.26 102.14 -------------------------------------------------------------------------------- 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 75.77 loads 3,030,853 pounds Select Cuts 28.78 loads 1,151,069 pounds Trimmings 8.41 loads 336,550 pounds Ground Beef 35.73 load 1,429,166 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 21 288,195 515.00 563.00 516.09 112A 3 Rib, ribeye, bnls, light 6 8,379 574.50 625.00 586.46 112A 3 Rib, ribeye, bnls, heavy 40 57,770 580.79 625.00 602.69 113C 1 Chuck, semi-bnls, neck/off 6 19,322 188.00 204.25 192.65 114 1 Chuck, shoulder clod 26 168,821 188.00 203.24 195.40 114A 3 Chuck, shoulder clod, trmd 23 146,084 195.00 215.50 205.24 114D 3 Chuck, clod, top blade 6 8,565 251.50 264.50 256.67 114E 3 Chuck, clod, arm roast 10 90,531 203.00 260.00 206.19 114F 5 Chuck, clod tender (IM) 6 13,598 330.96 410.00 340.11 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 92,716 207.00 225.63 217.38 116B 1 Chuck, chuck tender (IM) 14 49,901 205.00 222.58 209.03

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 35 92,087 188.58 202.63 196.80 120A 3 Brisket, point/off, bnls 10 5,993 308.00 329.00 321.95 123A 3 Short Plate, short rib 15 20,328 268.00 350.00 306.86 130 4 Chuck, short rib 10 62,414 185.00 235.00 199.50 160 1 Round, bone-in 6 3,058 206.00 211.00 207.48 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 36 85,771 219.00 236.25 229.13 168 1 Round, top inside round 14 23,990 196.42 205.04 197.81 168 3 Round, top inside round 16 103,941 199.79 215.29 203.42 169 5 Round, top inside, denuded 11 15,965 227.00 251.00 234.82

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 4,254 185.25 211.25 203.55 171B 3 Round, outside round 38 259,158 195.00 214.00 203.65 171C 3 Round, eye of round (IM) 28 146,238 206.00 227.00 210.01 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 19 8,941 565.00 596.50 578.29 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 11 18,338 515.00 544.00 518.63 180 3 Loin, strip, bnls, 0x1 30 143,735 569.00 605.63 577.55 184 1 Loin, top butt, bnls, heavy 7 7,362 321.25 326.79 324.14 184 3 Loin, top butt, boneless 21 27,309 320.00 339.80 331.39 185A 4 Loin, bottom sirloin, flap 21 87,866 402.39 455.00 414.70 185B 1 Loin, ball-tip, bnls, heavy 23 88,542 225.00 244.00 228.26 185C 1 Loin, sirloin, tri-tip (IM) 10 21,351 295.47 327.00 308.57 185D 4 Loin, tri-tip, pld (IM) 9 7,778 435.00 462.63 449.63 189A 4 Loin, tndrloin, trmd, heavy 41 133,233 925.00 987.00 935.01 191A 4 Loin, butt tender, trimmed 4 1,528 916.89 965.00 922.53 193 4 Flank, flank steak (IM) 12 8,128 388.00 425.00 407.96 ------------------------------------------------------------------------------- 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 13 27,238 500.00 535.00 524.63 112A 3 Rib, ribeye, bnls, light 7 11,625 556.63 600.00 586.17 112A 3 Rib, ribeye, bnls, heavy 17 28,820 550.46 605.00 565.23 113C 1 Chuck, semi-bnls, neck/off 6 5,951 195.00 204.50 200.73 114 1 Chuck, shoulder clod 8 29,825 188.00 201.00 196.25 114A 3 Chuck, shoulder clod, trmd 15 52,433 200.40 217.00 207.55 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 7 20,793 330.00 410.00 332.21 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 28 133,191 211.00 222.00 216.25 116B 1 Chuck, chuck tender (IM) 14 47,199 212.00 222.00 216.21

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 7 22,622 191.21 200.00 195.46 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 7 24,212 190.00 217.00 193.94 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 16 21,740 227.00 236.25 230.62 168 1 Round, top inside round 15 46,560 191.00 204.25 194.68 168 3 Round, top inside round 13 84,511 199.79 217.00 202.76 169 5 Round, top inside, denuded 6 5,036 231.00 251.89 238.89

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 72,637 190.00 210.00 190.94 171B 3 Round, outside round 17 65,417 192.00 212.25 199.45 171C 3 Round, eye of round (IM) 13 14,352 203.00 221.05 213.44 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 11 12,687 516.00 551.79 530.98 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 14 14,473 521.58 565.00 552.06 184 1 Loin, top butt, bnls, heavy 9 22,848 307.22 313.25 309.39 184 3 Loin, top butt, boneless 23 112,080 311.00 331.00 319.37 185A 4 Loin, bottom sirloin, flap 7 6,632 429.24 460.50 430.29 185B 1 Loin, ball-tip, bnls, heavy 7 26,048 220.00 241.00 223.91 185C 1 Loin, sirloin, tri-tip (IM) 5 3,982 301.00 336.79 310.26 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 13 22,198 917.00 948.63 918.94 191A 4 Loin, butt tender, trimmed 4 5,598 925.00 930.00 926.24 193 4 Flank, flank steak (IM) 5 6,247 371.05 386.00 376.45 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 13 30,800 87.00 123.00 93.33 121D 4 Plate, Inside Skirt (IM) 18 30,240 340.00 365.15 352.04 121C 4 Plate, Outside Skirt (IM) 9 19,785 501.00 552.00 519.25 121E 6 Outside Skirt, pld (IM) 4 1,216 668.00 755.00 696.26

Cap, Wedge Meat & (IM) Lean 24 99,719 221.00 242.50 230.42

Pectoral Meat 18 14,650 220.21 246.00 233.21 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 36 636,970 160.39 186.93 163.97 Ground Beef 75% Ground Beef 81% 43 87,410 195.81 222.24 212.07 Ground Beef 85% Ground Beef 90% Ground Beef 93% 14 33,330 266.50 278.50 277.11 Ground Beef Chuck 80% 26 385,110 207.39 223.75 214.56 Ground Beef Round 85% 11 13,627 221.00 229.00 225.48 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% 0 0 Blended Ground Beef 81% 6 32,401 202.60 216.00 214.58 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 12 336,550 82.00 93.00 86.12 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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