Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 197.35 185.82 Change from prior day: 0.04 (1.23) ------------------------------------------------------------------------------- Choice/Select spread: 11.52

Total Load Count (Cuts, Trimmings, Grids): 131 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 283.27 255.89 Primal Chuck 159.19 157.53 Primal Round 165.09 164.01 Primal Loin 292.40 255.31 Primal Brisket 135.60 134.77 Primal Short Plate 125.52 130.27 Primal Flank 105.07 100.98 -------------------------------------------------------------------------------- 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 44.28 loads 1,771,101 pounds Select Cuts 41.17 loads 1,646,675 pounds Trimmings 20.58 loads 823,250 pounds Ground Beef 25.43 load 1,017,397 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 8 89,290 580.00 589.00 588.43 112A 3 Rib, ribeye, bnls, light 3 11,837 658.15 685.60 667.33 112A 3 Rib, ribeye, bnls, heavy 25 86,242 623.00 685.60 647.17 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 8 41,589 201.00 221.00 208.18 114A 3 Chuck, shoulder clod, trmd 33 168,239 214.00 230.00 218.98 114D 3 Chuck, clod, top blade 5 12,772 282.00 332.30 306.80 114E 3 Chuck, clod, arm roast 7 17,569 218.55 253.50 224.92 114F 5 Chuck, clod tender (IM) 7 8,221 350.18 368.50 357.03 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 27 51,395 220.00 242.00 232.11 116B 1 Chuck, chuck tender (IM) 9 20,913 214.00 227.00 220.81

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 18 88,324 205.00 225.00 209.56 120A 3 Brisket, point/off, bnls 16 20,686 295.00 331.50 327.02 123A 3 Short Plate, short rib 8 8,405 265.00 346.50 306.17 130 4 Chuck, short rib 23 51,318 184.20 230.00 208.69 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 28 68,777 228.00 245.00 234.83 168 1 Round, top inside round 16 56,902 205.00 219.00 212.89 168 3 Round, top inside round 7 48,108 213.92 230.00 218.54 169 5 Round, top inside, denuded 8 14,231 249.00 260.00 254.94

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 4,589 189.18 210.00 195.25 171B 3 Round, outside round 34 180,596 191.71 217.00 202.71 171C 3 Round, eye of round (IM) 27 130,945 192.00 223.00 203.79 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 10 12,025 625.00 636.50 630.07 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 3 1,050 623.00 630.00 627.67 180 3 Loin, strip, bnls, 0x1 18 68,809 685.00 746.50 711.56 184 1 Loin, top butt, bnls, heavy 9 7,398 335.00 344.50 339.99 184 3 Loin, top butt, boneless 19 74,744 345.00 372.78 352.88 185A 4 Loin, bottom sirloin, flap 21 40,424 439.00 467.00 447.65 185B 1 Loin, ball-tip, bnls, heavy 13 11,651 235.00 246.00 239.50 185C 1 Loin, sirloin, tri-tip (IM) 8 6,784 345.50 360.00 350.39 185D 4 Loin, tri-tip, pld (IM) 6 22,324 449.00 478.00 454.70 189A 4 Loin, tndrloin, trmd, heavy 22 88,651 940.00 1028.00 957.82 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 11 9,675 425.00 463.00 443.96 ------------------------------------------------------------------------------- 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 4 4,601 515.00 535.00 527.08 112A 3 Rib, ribeye, bnls, light 11 58,456 548.00 591.00 565.29 112A 3 Rib, ribeye, bnls, heavy 17 45,900 554.00 595.00 567.90 113C 1 Chuck, semi-bnls, neck/off 5 12,164 203.00 210.50 206.26 114 1 Chuck, shoulder clod 7 40,175 204.00 213.00 209.48 114A 3 Chuck, shoulder clod, trmd 9 92,086 215.64 223.00 219.14 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 7 31,624 309.33 350.11 322.04 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 345,003 220.00 235.00 224.94 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 14 101,971 198.00 225.00 207.20 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 9 13,621 255.00 340.00 283.94 130 4 Chuck, short rib 6 25,522 183.00 200.00 194.43 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 5 5,623 234.74 241.00 238.90 168 1 Round, top inside round 11 28,856 200.00 215.00 210.55 168 3 Round, top inside round 10 27,751 214.25 230.00 219.27 169 5 Round, top inside, denuded 3 6,739 252.50 255.00 253.97

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 7,038 188.71 210.00 193.78 171B 3 Round, outside round 8 11,728 190.91 206.50 199.00 171C 3 Round, eye of round (IM) 18 162,840 192.00 225.00 201.32 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 11 56,342 500.00 548.00 528.10 175 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 5 13,624 510.00 535.50 515.93 184 1 Loin, top butt, bnls, heavy 7 5,975 288.69 304.50 294.85 184 3 Loin, top butt, boneless 15 69,521 297.40 326.00 302.21 185A 4 Loin, bottom sirloin, flap 4 2,805 449.50 470.00 455.25 185B 1 Loin, ball-tip, bnls, heavy 9 48,299 216.00 239.58 230.27 185C 1 Loin, sirloin, tri-tip (IM) 9 30,103 320.18 355.00 324.07 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 13 29,383 890.00 959.50 906.18 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 8 8,067 416.50 435.00 430.30 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 19,453 97.63 123.45 112.37 121D 4 Plate, Inside Skirt (IM) 10 119,463 352.89 370.00 368.08 121C 4 Plate, Outside Skirt (IM) 21 18,664 504.00 548.00 514.85 121E 6 Outside Skirt, pld (IM) 3 8,177 696.00 715.00 713.14

Cap, Wedge Meat & (IM) Lean 33 308,812 225.20 250.00 230.93

Pectoral Meat 11 25,477 232.00 252.00 237.07 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 18 411,976 150.00 173.00 156.87 Ground Beef 75% 0 0 Ground Beef 81% 31 323,177 182.00 222.00 184.34 Ground Beef 85% Ground Beef 90% Ground Beef 93% 7 11,328 262.50 274.00 265.75 Ground Beef Chuck 80% 13 91,153 201.00 228.50 206.83 Ground Beef Round 85% 4 16,916 224.00 225.00 224.77 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% 4 36,955 206.99 218.60 211.14 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 22 785,750 50.00 56.00 53.57 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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