Bloomberg News

USDA Boxed Beef Cutout Midday Prices for May 31

May 31, 2012

May 31 (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: 197.77 187.59 Change from prior day: 0.77 (0.51) ------------------------------------------------------------------------------- Choice/Select spread: 10.18

Total Load Count (Cuts, Trimmings, Grids): 114 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 282.82 256.61 Primal Chuck 160.64 161.52 Primal Round 165.43 164.97 Primal Loin 292.04 256.43 Primal Brisket 135.38 135.37 Primal Short Plate 126.12 131.27 Primal Flank 105.41 99.47 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/30 111 84 19 40 255 197.00 188.10 05/29 80 42 21 28 171 195.74 187.21 05/25 67 62 19 29 177 194.63 185.46 05/24 75 58 24 38 195 195.56 186.84 05/23 102 58 20 40 220 195.37 187.65 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.66 187.05 -------------------------------------------------------------------------------- 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 50.90 loads 2,035,933 pounds Select Cuts 26.97 loads 1,078,703 pounds Trimmings 14.07 loads 562,757 pounds Ground Beef 22.53 load 901,019 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 16 38,279 555.00 601.00 564.28 112A 3 Rib, ribeye, bnls, light 7 13,048 621.00 680.00 635.49 112A 3 Rib, ribeye, bnls, heavy 35 82,291 621.00 686.00 659.66 113C 1 Chuck, semi-bnls, neck/off 6 14,399 203.50 210.00 208.76 114 1 Chuck, shoulder clod 16 70,223 206.00 213.00 209.30 114A 3 Chuck, shoulder clod, trmd 35 117,336 205.00 225.06 215.36 114D 3 Chuck, clod, top blade 12 20,367 279.97 302.00 285.23 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 14 24,260 350.50 385.00 353.82 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 101,778 228.00 239.00 234.51 116B 1 Chuck, chuck tender (IM) 19 37,025 210.85 228.00 223.73

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 34 217,548 205.00 225.00 208.85 120A 3 Brisket, point/off, bnls 12 14,369 317.00 348.50 327.53 123A 3 Short Plate, short rib 21 41,122 270.00 355.00 334.38 130 4 Chuck, short rib 14 9,692 195.35 231.00 214.93 160 1 Round, bone-in 6 5,013 197.00 211.50 202.83 161 1 Round, boneless 8 167,254 207.00 213.50 207.04

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 40 198,357 229.00 248.00 233.59 168 1 Round, top inside round 23 57,379 204.00 220.60 211.23 168 3 Round, top inside round 13 54,848 210.00 226.00 214.02 169 5 Round, top inside, denuded 7 4,654 246.32 260.00 254.46

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 5,246 201.25 211.25 205.37 171B 3 Round, outside round 33 155,156 195.00 212.65 200.81 171C 3 Round, eye of round (IM) 33 70,297 209.00 232.60 214.80 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 10 5,050 609.84 627.80 620.48 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 9 9,179 582.00 640.00 613.01 180 3 Loin, strip, bnls, 0x1 19 37,882 668.00 735.00 697.93 184 1 Loin, top butt, bnls, heavy 6 6,771 334.28 340.00 337.77 184 3 Loin, top butt, boneless 23 61,161 345.00 371.00 355.89 185A 4 Loin, bottom sirloin, flap 26 65,027 439.00 466.00 446.82 185B 1 Loin, ball-tip, bnls, heavy 15 30,552 230.80 243.75 236.10 185C 1 Loin, sirloin, tri-tip (IM) 13 13,056 333.40 361.00 343.44 185D 4 Loin, tri-tip, pld (IM) 11 9,401 445.00 478.00 460.92 189A 4 Loin, tndrloin, trmd, heavy 29 34,851 958.00 995.00 976.44 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 12 13,567 435.00 466.00 452.78 ------------------------------------------------------------------------------- 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 7 3,516 518.00 535.00 523.56 112A 3 Rib, ribeye, bnls, light 11 50,315 548.00 594.50 565.57 112A 3 Rib, ribeye, bnls, heavy 23 40,051 560.00 590.50 569.88 113C 1 Chuck, semi-bnls, neck/off 9 26,813 201.00 210.25 208.84 114 1 Chuck, shoulder clod 6 14,680 200.40 213.00 207.79 114A 3 Chuck, shoulder clod, trmd 9 36,455 216.00 229.00 219.16 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 6 24,165 333.91 350.40 336.04 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 68,338 226.00 241.00 230.69 116B 1 Chuck, chuck tender (IM) 6 11,582 215.00 226.00 218.12

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 21 107,816 201.51 221.00 210.61 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 12,653 245.00 323.00 257.74 130 4 Chuck, short rib 3 3,305 200.00 227.63 208.36 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 14 34,982 231.00 243.25 234.82 168 1 Round, top inside round 12 52,920 206.00 215.00 209.31 168 3 Round, top inside round 8 58,848 212.00 225.00 214.94 169 5 Round, top inside, denuded 3 1,612 251.97 254.00 253.54

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 3,631 198.06 210.00 204.55 171B 3 Round, outside round 13 89,835 199.60 212.00 201.52 171C 3 Round, eye of round (IM) 6 7,594 210.00 225.00 214.79 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 15 25,174 515.14 550.00 521.43 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 17 11,895 508.00 575.00 526.21 184 1 Loin, top butt, bnls, heavy 19 15,695 295.00 316.25 301.55 184 3 Loin, top butt, boneless 19 35,517 305.00 326.50 313.78 185A 4 Loin, bottom sirloin, flap 12 97,305 425.00 450.00 426.47 185B 1 Loin, ball-tip, bnls, heavy 5 21,489 223.00 235.00 230.33 185C 1 Loin, sirloin, tri-tip (IM) 5 9,237 297.00 341.00 307.31 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 15 31,948 879.00 960.00 894.08 191A 4 Loin, butt tender, trimmed 5 2,176 924.00 937.00 930.98 193 4 Flank, flank steak (IM) 9 5,608 411.25 435.00 415.91 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 12 10,284 120.00 130.36 126.94 121D 4 Plate, Inside Skirt (IM) 36 66,481 350.00 370.00 357.47 121C 4 Plate, Outside Skirt (IM) 19 30,523 513.95 547.00 523.26 121E 6 Outside Skirt, pld (IM) 7 3,576 690.00 760.60 708.22

Cap, Wedge Meat & (IM) Lean 32 176,301 230.00 245.00 235.58

Pectoral Meat 20 25,336 234.00 262.00 245.80 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 19 211,193 160.00 183.25 162.78 Ground Beef 75% Ground Beef 81% 25 71,720 205.00 230.25 211.68 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 11 27,426 245.85 285.00 267.85 Ground Beef Chuck 80% 17 210,737 204.00 217.41 210.58 Ground Beef Round 85% 13 37,893 216.44 253.00 226.95 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 54,920 211.07 224.30 211.58 Blended Ground Beef 85% 0 0 Blended Ground Beef 90% 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 17 552,257 51.90 58.00 55.37 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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