Bloomberg News

USDA Boxed Beef Cutout Closing Prices for June 1

June 01, 2012

June 1 (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: 197.25 185.36 Change from prior day: (0.06) (1.69) ------------------------------------------------------------------------------- Choice/Select spread: 11.89

Total Load Count (Cuts, Trimmings, Grids): 214 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 283.47 255.68 Primal Chuck 159.45 157.47 Primal Round 164.75 163.45 Primal Loin 292.31 254.57 Primal Brisket 135.47 134.71 Primal Short Plate 124.24 128.93 Primal Flank 104.81 99.77 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/31 102 54 20 37 212 197.31 187.05 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 196.05 186.93 -------------------------------------------------------------------------------- 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 67.88 loads 2,715,181 pounds Select Cuts 72.60 loads 2,903,858 pounds Trimmings 38.11 loads 1,524,465 pounds Ground Beef 35.46 load 1,418,279 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 13 171,206 553.97 609.00 578.50 112A 3 Rib, ribeye, bnls, light 13 70,283 652.42 685.60 665.32 112A 3 Rib, ribeye, bnls, heavy 34 129,199 616.45 685.60 655.34 113C 1 Chuck, semi-bnls, neck/off 5 6,080 194.23 215.00 198.87 114 1 Chuck, shoulder clod 13 63,611 201.00 221.00 207.82 114A 3 Chuck, shoulder clod, trmd 51 230,538 214.00 230.00 219.26 114D 3 Chuck, clod, top blade 6 14,041 281.23 332.30 304.49 114E 3 Chuck, clod, arm roast 10 24,806 218.55 253.50 226.64 114F 5 Chuck, clod tender (IM) 9 9,304 350.18 385.00 357.86 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 41 92,633 220.00 242.00 232.27 116B 1 Chuck, chuck tender (IM) 17 57,585 213.87 227.00 223.51

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 31 137,150 205.00 225.00 209.57 120A 3 Brisket, point/off, bnls 17 21,092 295.00 331.50 326.50 123A 3 Short Plate, short rib 16 18,731 265.00 348.00 310.20 130 4 Chuck, short rib 34 69,973 183.51 230.00 206.53 160 1 Round, bone-in 161 1 Round, boneless 4 5,385 210.63 214.00 213.38

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 44 95,304 228.00 245.00 235.83 168 1 Round, top inside round 24 146,360 205.00 220.60 209.16 168 3 Round, top inside round 15 63,384 213.92 230.00 219.40 169 5 Round, top inside, denuded 12 17,867 246.55 260.00 254.49

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 5,444 189.18 210.00 195.99 171B 3 Round, outside round 45 246,891 190.91 217.00 202.06 171C 3 Round, eye of round (IM) 40 165,511 192.00 223.00 204.42 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 13,165 625.00 641.00 630.15 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 4 1,309 623.00 640.00 630.11 180 3 Loin, strip, bnls, 0x1 28 105,683 684.92 760.00 726.27 184 1 Loin, top butt, bnls, heavy 13 10,681 335.00 346.00 340.17 184 3 Loin, top butt, boneless 29 88,332 345.00 372.78 354.32 185A 4 Loin, bottom sirloin, flap 27 47,297 439.00 467.00 448.40 185B 1 Loin, ball-tip, bnls, heavy 18 15,547 235.00 246.00 239.72 185C 1 Loin, sirloin, tri-tip (IM) 9 7,533 345.50 360.00 350.35 185D 4 Loin, tri-tip, pld (IM) 8 22,808 449.00 478.00 454.74 189A 4 Loin, tndrloin, trmd, heavy 35 186,068 940.00 1031.00 962.66 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 13 10,601 425.00 465.60 445.60 ------------------------------------------------------------------------------- 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 9 6,516 515.00 539.00 527.61 112A 3 Rib, ribeye, bnls, light 16 77,898 548.00 593.00 568.31 112A 3 Rib, ribeye, bnls, heavy 37 85,197 550.00 597.00 571.95 113C 1 Chuck, semi-bnls, neck/off 8 12,997 195.00 210.50 206.43 114 1 Chuck, shoulder clod 11 44,878 204.00 213.00 209.58 114A 3 Chuck, shoulder clod, trmd 20 165,056 206.84 223.00 217.78 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 32,244 309.33 350.11 322.48 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 42 400,438 220.00 235.50 225.80 116B 1 Chuck, chuck tender (IM) 9 23,861 215.00 235.00 221.76

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 15 102,306 198.00 225.00 207.23 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 14 28,758 255.00 340.00 280.78 130 4 Chuck, short rib 8 27,793 183.00 210.00 195.30 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 63,439 225.00 241.00 233.11 168 1 Round, top inside round 24 227,302 200.00 215.66 205.93 168 3 Round, top inside round 13 35,915 209.00 230.00 217.36 169 5 Round, top inside, denuded 4 7,093 252.50 255.00 254.03

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 7,102 188.71 210.00 193.76 171B 3 Round, outside round 14 58,482 190.91 208.00 200.43 171C 3 Round, eye of round (IM) 23 173,040 192.00 225.00 201.60 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 18 61,038 500.00 553.00 528.32 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 12 40,478 505.00 547.00 512.96 184 1 Loin, top butt, bnls, heavy 10 7,719 288.69 312.00 297.71 184 3 Loin, top butt, boneless 24 96,708 297.40 326.00 303.39 185A 4 Loin, bottom sirloin, flap 8 36,374 427.00 470.00 434.63 185B 1 Loin, ball-tip, bnls, heavy 15 75,700 211.00 239.58 226.88 185C 1 Loin, sirloin, tri-tip (IM) 11 31,268 320.00 355.00 324.11 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 20 118,767 873.48 971.00 888.58 191A 4 Loin, butt tender, trimmed 5 1,197 921.00 935.66 928.69 193 4 Flank, flank steak (IM) 12 20,430 403.48 435.00 415.51 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 14 40,572 97.63 125.00 114.20 121D 4 Plate, Inside Skirt (IM) 47 474,536 352.00 370.00 359.05 121C 4 Plate, Outside Skirt (IM) 34 29,535 495.00 548.00 516.05 121E 6 Outside Skirt, pld (IM) 7 19,873 694.70 720.00 716.40

Cap, Wedge Meat & (IM) Lean 47 433,266 223.75 252.50 229.38

Pectoral Meat 20 34,720 232.00 252.00 238.97 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 39 595,569 150.00 176.66 160.63 Ground Beef 75% Ground Beef 81% 45 360,024 182.00 222.00 186.79 Ground Beef 85% Ground Beef 90% Ground Beef 93% 15 37,579 262.50 279.00 269.50 Ground Beef Chuck 80% 22 179,558 201.00 228.50 211.16 Ground Beef Round 85% 14 44,424 217.50 231.00 222.97 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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 51,755 206.99 221.95 214.18 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 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 38 1,406,085 48.00 56.00 51.96 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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