Bloomberg News

USDA Boxed Beef Cutout Midday Prices for May 25

May 25, 2012

May 25 (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: 194.71 186.09 Change from prior day: (0.85) (0.75) ------------------------------------------------------------------------------- Choice/Select spread: 8.61

Total Load Count (Cuts, Trimmings, Grids): 111 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 275.77 255.29 Primal Chuck 160.69 158.53 Primal Round 164.89 164.98 Primal Loin 283.47 256.86 Primal Brisket 135.43 131.08 Primal Short Plate 122.18 125.91 Primal Flank 103.48 100.68 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/24 75 58 24 38 195 195.56 186.84 05/23 102 58 20 40 220 195.37 187.65 05/22 84 72 23 36 215 194.28 187.04 05/21 103 47 25 20 195 194.59 186.47 05/18 77 58 22 23 180 192.51 186.56 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 194.46 186.91 -------------------------------------------------------------------------------- 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 41.39 loads 1,655,447 pounds Select Cuts 38.52 loads 1,540,694 pounds Trimmings 16.83 loads 673,261 pounds Ground Beef 14.08 load 563,181 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 12 33,592 540.53 600.50 545.17 112A 3 Rib, ribeye, bnls, light 9 50,613 635.47 662.98 653.81 112A 3 Rib, ribeye, bnls, heavy 22 69,211 602.00 651.50 642.88 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 9 51,380 202.50 214.58 205.82 114A 3 Chuck, shoulder clod, trmd 22 124,391 208.00 228.00 218.02 114D 3 Chuck, clod, top blade 3 5,319 270.00 311.50 295.70 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 8,781 344.00 370.00 353.11 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 29 102,923 219.34 240.00 231.52 116B 1 Chuck, chuck tender (IM) 13 20,983 215.00 225.00 220.92

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 58,615 202.00 227.00 208.22 120A 3 Brisket, point/off, bnls 8 7,167 319.00 339.60 329.96 123A 3 Short Plate, short rib 5 14,104 310.00 366.00 349.51 130 4 Chuck, short rib 17 58,272 184.20 225.00 196.14 160 1 Round, bone-in 4 11,379 195.50 212.00 200.29 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 23 53,667 230.00 242.85 235.51 168 1 Round, top inside round 15 63,261 205.00 220.99 209.78 168 3 Round, top inside round 15 217,288 208.25 230.00 215.05 169 5 Round, top inside, denuded 6 3,936 249.00 260.00 254.83

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 9 5,373 192.00 210.00 205.40 171B 3 Round, outside round 24 42,448 199.09 217.00 206.66 171C 3 Round, eye of round (IM) 24 95,163 202.00 225.00 209.00 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 24,119 601.43 636.50 619.34 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 14 20,163 652.42 675.00 665.15 184 1 Loin, top butt, bnls, heavy 4 9,317 329.00 335.00 330.92 184 3 Loin, top butt, boneless 10 9,622 325.00 355.00 344.79 185A 4 Loin, bottom sirloin, flap 11 27,694 431.00 455.00 440.24 185B 1 Loin, ball-tip, bnls, heavy 7 68,315 219.00 235.00 229.09 185C 1 Loin, sirloin, tri-tip (IM) 9 32,002 305.00 339.00 325.36 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 20 62,831 935.00 991.75 948.99 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 7 5,593 420.00 446.00 435.10 ------------------------------------------------------------------------------- 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 8 9,265 508.70 535.00 528.36 112A 3 Rib, ribeye, bnls, light 4 26,154 540.47 587.00 563.31 112A 3 Rib, ribeye, bnls, heavy 12 57,075 537.41 578.11 559.90 113C 1 Chuck, semi-bnls, neck/off 3 24,325 207.00 209.25 207.03 114 1 Chuck, shoulder clod 4 16,449 200.11 215.85 207.30 114A 3 Chuck, shoulder clod, trmd 7 23,151 210.75 225.00 213.52 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 6 4,738 329.00 355.50 338.65 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 23 82,322 220.00 245.00 232.36 116B 1 Chuck, chuck tender (IM) 10 16,659 215.00 235.00 222.12

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 29 809,049 193.70 225.00 199.51 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 18,007 245.50 361.00 322.56 130 4 Chuck, short rib 6 42,471 184.20 200.00 191.15 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 9 18,690 230.00 250.00 234.84 168 1 Round, top inside round 4 67,183 205.79 213.05 208.92 168 3 Round, top inside round 8 32,714 208.25 225.00 213.32 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 10 46,254 197.00 216.50 205.74 171C 3 Round, eye of round (IM) 13 39,767 205.00 230.00 209.00 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 11 20,051 533.47 553.11 536.69 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 5 7,444 509.00 535.47 522.65 184 1 Loin, top butt, bnls, heavy 3 5,963 297.33 314.50 300.91 184 3 Loin, top butt, boneless 11 14,851 304.00 335.00 314.44 185A 4 Loin, bottom sirloin, flap 7 70,317 427.40 460.00 438.55 185B 1 Loin, ball-tip, bnls, heavy 185C 1 Loin, sirloin, tri-tip (IM) 4 1,960 321.50 336.00 324.53 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 6 8,847 881.00 937.00 918.04 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 2,985 409.50 440.00 433.43 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 5,208 112.29 130.00 118.79 121D 4 Plate, Inside Skirt (IM) 9 24,650 350.06 361.00 352.42 121C 4 Plate, Outside Skirt (IM) 7 5,022 515.00 551.00 528.17 121E 6 Outside Skirt, pld (IM) 4 7,683 652.20 680.00 673.89

Cap, Wedge Meat & (IM) Lean 18 96,313 225.50 240.00 232.22

Pectoral Meat 8 12,868 235.00 247.00 238.98 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 13 222,789 157.00 184.00 167.71 Ground Beef 75% 0 0 Ground Beef 81% 24 110,993 207.00 231.00 220.76 Ground Beef 85% Ground Beef 90% Ground Beef 93% 7 26,237 270.07 286.00 271.35 Ground Beef Chuck 80% 7 80,796 198.00 233.00 215.54 Ground Beef Round 85% 4 3,598 230.00 245.00 242.72 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% Blended Ground Beef 81% 6 28,882 208.74 230.00 216.54 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 13 429,401 51.00 58.50 52.76 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.


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