Bloomberg News

USDA Boxed Beef Cutout Midday Prices for May 15

May 15, 2012

May 15 (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: 191.01 186.53 Change from prior day: (0.02) 0.83 ------------------------------------------------------------------------------- Choice/Select spread: 4.48

Total Load Count (Cuts, Trimmings, Grids): 101 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 269.91 254.02 Primal Chuck 157.63 157.23 Primal Round 164.37 163.64 Primal Loin 272.10 259.58 Primal Brisket 133.03 133.39 Primal Short Plate 129.94 134.75 Primal Flank 102.14 98.83 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/14 92 53 8 28 182 191.03 185.70 05/11 66 45 24 24 159 189.10 183.05 05/10 94 96 34 36 260 189.92 183.86 05/09 104 76 9 58 247 191.51 185.95 05/08 83 63 13 36 195 190.14 185.31 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.34 184.77 -------------------------------------------------------------------------------- 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 37.04 loads 1,481,486 pounds Select Cuts 39.59 loads 1,583,659 pounds Trimmings 1.27 loads 50,750 pounds Ground Beef 23.53 load 941,038 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 26 31,830 538.79 570.00 551.36 112A 3 Rib, ribeye, bnls, light 10 48,885 578.00 612.00 585.84 112A 3 Rib, ribeye, bnls, heavy 45 61,070 578.00 623.00 599.35 113C 1 Chuck, semi-bnls, neck/off 6 41,405 181.00 200.39 181.42 114 1 Chuck, shoulder clod 9 25,518 199.79 205.01 200.51 114A 3 Chuck, shoulder clod, trmd 21 129,996 212.00 223.00 214.31 114D 3 Chuck, clod, top blade 8 10,833 247.90 269.00 254.47 114E 3 Chuck, clod, arm roast 5 11,687 229.00 250.00 242.01 114F 5 Chuck, clod tender (IM) 12 8,274 342.00 390.00 350.87 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 142,657 221.93 232.90 225.18 116B 1 Chuck, chuck tender (IM) 16 50,845 205.00 226.00 211.99

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 25 127,920 199.00 211.00 202.00 120A 3 Brisket, point/off, bnls 12 13,443 297.00 332.00 308.64 123A 3 Short Plate, short rib 19 11,928 303.50 353.00 331.43 130 4 Chuck, short rib 10 25,719 183.90 230.39 192.30 160 1 Round, bone-in 7 14,235 194.00 212.00 205.82 161 1 Round, boneless 3 3,177 207.00 213.00 209.80

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 31 90,470 228.00 243.44 232.77 168 1 Round, top inside round 17 28,190 200.00 215.00 203.15 168 3 Round, top inside round 12 67,285 214.00 225.00 219.67 169 5 Round, top inside, denuded 7 6,608 238.00 260.00 253.35

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 2,513 198.00 200.10 199.68 171B 3 Round, outside round 38 78,348 195.00 214.00 207.60 171C 3 Round, eye of round (IM) 33 95,176 203.90 221.00 209.86 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 28,179 568.75 599.00 579.49 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 7 6,365 519.00 529.73 520.48 180 3 Loin, strip, bnls, 0x1 38 26,157 589.00 621.00 601.23 184 1 Loin, top butt, bnls, heavy 9 7,101 310.00 326.00 319.13 184 3 Loin, top butt, boneless 13 48,474 330.00 346.00 335.68 185A 4 Loin, bottom sirloin, flap 14 22,022 419.65 440.83 432.16 185B 1 Loin, ball-tip, bnls, heavy 9 38,475 225.00 241.00 228.23 185C 1 Loin, sirloin, tri-tip (IM) 5 3,398 300.00 326.83 308.89 185D 4 Loin, tri-tip, pld (IM) 15 3,145 445.00 474.00 451.67 189A 4 Loin, tndrloin, trmd, heavy 20 15,163 925.00 997.00 946.36 191A 4 Loin, butt tender, trimmed 9 1,735 937.00 971.00 955.36 193 4 Flank, flank steak (IM) 28 12,613 380.00 433.85 407.91 ------------------------------------------------------------------------------- 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 14 4,826 504.00 536.00 516.70 112A 3 Rib, ribeye, bnls, light 4 5,667 568.75 570.00 569.74 112A 3 Rib, ribeye, bnls, heavy 33 32,275 540.00 596.00 562.40 113C 1 Chuck, semi-bnls, neck/off 6 8,229 199.75 204.00 201.23 114 1 Chuck, shoulder clod 8 22,043 194.50 206.00 203.35 114A 3 Chuck, shoulder clod, trmd 19 168,455 209.00 215.00 212.72 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 213,328 207.16 227.00 217.49 116B 1 Chuck, chuck tender (IM) 7 18,124 210.00 225.00 214.97

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 12 38,351 197.77 208.00 200.66 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 6 8,774 189.00 225.00 202.60 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 11 28,668 232.00 240.00 233.69 168 1 Round, top inside round 12 26,436 196.00 209.64 203.12 168 3 Round, top inside round 14 59,757 200.65 218.00 205.66 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 18 97,242 201.00 211.00 206.61 171C 3 Round, eye of round (IM) 20 56,144 209.38 221.00 212.94 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 21,764 522.00 547.77 534.92 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 20 18,152 539.00 557.00 547.92 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 12 27,587 300.41 325.00 314.59 185A 4 Loin, bottom sirloin, flap 7 53,204 417.00 440.10 434.12 185B 1 Loin, ball-tip, bnls, heavy 16 93,830 215.00 256.83 223.27 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 21 20,071 915.00 950.10 928.78 191A 4 Loin, butt tender, trimmed 9 7,052 919.00 935.67 928.05 193 4 Flank, flank steak (IM) 8 35,344 368.00 390.01 374.85 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 9 21,817 97.63 124.61 108.54 121D 4 Plate, Inside Skirt (IM) 23 41,634 342.00 375.00 349.40 121C 4 Plate, Outside Skirt (IM) 10 15,008 490.00 541.00 508.97 121E 6 Outside Skirt, pld (IM) 5 6,641 665.00 695.00 689.91

Cap, Wedge Meat & (IM) Lean 53 322,751 220.00 250.00 222.39

Pectoral Meat 18 38,079 220.00 240.67 224.92 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 24 198,374 162.00 186.30 168.91 Ground Beef 75% Ground Beef 81% 27 210,736 198.00 222.00 211.17 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 17 114,995 260.00 290.00 276.35 Ground Beef Chuck 80% 15 126,683 210.00 231.40 225.47 Ground Beef Round 85% 14 31,860 224.00 240.00 231.81 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% 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 0 0 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.


Later, Baby
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