Bloomberg News

USDA Boxed Beef Cutout Midday Prices for June 4

June 04, 2012

June 4 (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: 197.50 184.81 Change from prior day: 0.25 (0.55) ------------------------------------------------------------------------------- Choice/Select spread: 12.68

Total Load Count (Cuts, Trimmings, Grids): 85 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 286.33 256.02 Primal Chuck 158.77 156.53 Primal Round 164.47 162.98 Primal Loin 292.95 253.08 Primal Brisket 134.78 133.66 Primal Short Plate 125.36 130.73 Primal Flank 105.05 100.79 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/01 68 73 38 35 214 197.25 185.36 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 196.39 186.63 -------------------------------------------------------------------------------- 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 46.84 loads 1,873,646 pounds Select Cuts 23.47 loads 938,861 pounds Trimmings 0.17 loads 6,750 pounds Ground Beef 14.35 load 573,986 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 26 244,921 560.42 615.00 575.75 112A 3 Rib, ribeye, bnls, light 5 9,497 658.15 700.00 678.59 112A 3 Rib, ribeye, bnls, heavy 14 38,304 663.00 691.50 685.82 113C 1 Chuck, semi-bnls, neck/off 3 41,329 181.00 210.00 181.69 114 1 Chuck, shoulder clod 9 51,349 206.00 216.00 208.93 114A 3 Chuck, shoulder clod, trmd 19 41,111 209.50 238.00 218.64 114D 3 Chuck, clod, top blade 8 7,089 274.20 310.02 288.24 114E 3 Chuck, clod, arm roast 8 64,904 226.00 270.00 242.20 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 99,258 225.00 244.00 231.88 116B 1 Chuck, chuck tender (IM) 12 21,634 210.00 229.00 216.94

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 19 61,107 204.73 228.00 209.26 120A 3 Brisket, point/off, bnls 10 9,617 324.00 338.00 333.15 123A 3 Short Plate, short rib 18 72,387 245.00 367.00 280.46 130 4 Chuck, short rib 16 29,952 184.20 218.00 196.49 160 1 Round, bone-in 4 2,313 205.00 207.00 206.48 161 1 Round, boneless 5 22,122 207.00 214.10 213.86

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 23 70,529 228.39 241.02 236.37 168 1 Round, top inside round 8 29,090 208.00 220.99 213.43 168 3 Round, top inside round 14 27,037 214.25 228.00 219.96 169 5 Round, top inside, denuded 11 61,170 247.00 259.00 255.79

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 10,283 190.00 205.10 190.90 171B 3 Round, outside round 24 110,673 195.00 215.02 197.99 171C 3 Round, eye of round (IM) 21 35,304 209.00 223.00 215.77 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 8 28,689 625.00 644.00 639.43 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 3 3,501 640.00 640.00 640.00 180 3 Loin, strip, bnls, 0x1 28 140,303 718.00 760.00 741.45 184 1 Loin, top butt, bnls, heavy 6 9,516 335.16 361.00 342.88 184 3 Loin, top butt, boneless 29 215,530 347.25 375.00 359.56 185A 4 Loin, bottom sirloin, flap 13 25,465 439.00 461.00 453.59 185B 1 Loin, ball-tip, bnls, heavy 11 17,692 226.44 243.00 238.23 185C 1 Loin, sirloin, tri-tip (IM) 6 6,970 326.25 350.00 330.36 185D 4 Loin, tri-tip, pld (IM) 3 2,467 443.90 481.00 467.43 189A 4 Loin, tndrloin, trmd, heavy 21 67,278 948.00 982.00 968.40 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 7 8,171 446.00 471.00 456.76 ------------------------------------------------------------------------------- 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 34,526 470.00 535.10 503.71 112A 3 Rib, ribeye, bnls, light 5 30,016 569.20 595.00 582.53 112A 3 Rib, ribeye, bnls, heavy 11 33,857 553.52 595.10 570.87 113C 1 Chuck, semi-bnls, neck/off 3 13,394 200.07 213.00 202.62 114 1 Chuck, shoulder clod 7 32,475 191.00 213.02 208.22 114A 3 Chuck, shoulder clod, trmd 7 31,241 212.54 222.00 218.27 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 2,069 335.00 345.00 343.65 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 23 128,772 225.00 236.00 228.68 116B 1 Chuck, chuck tender (IM) 8 29,497 210.00 221.00 216.36

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 39,272 203.00 225.00 207.71 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 14,480 245.00 361.00 289.39 130 4 Chuck, short rib 6 18,541 191.00 200.00 195.71 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 11 28,125 228.00 241.00 233.74 168 1 Round, top inside round 5 20,183 207.00 210.00 209.69 168 3 Round, top inside round 7 18,611 213.27 223.00 214.67 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 10 28,802 194.00 212.00 200.39 171C 3 Round, eye of round (IM) 5 46,428 195.49 220.00 196.85 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 7 1,958 526.00 555.10 543.93 175 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 10 52,831 502.00 568.00 508.14 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 12 23,485 290.00 330.10 299.07 185A 4 Loin, bottom sirloin, flap 4 8,806 425.00 430.70 425.40 185B 1 Loin, ball-tip, bnls, heavy 5 10,228 226.44 240.00 233.17 185C 1 Loin, sirloin, tri-tip (IM) 4 3,678 324.00 334.00 327.76 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 5 5,729 890.00 951.00 919.08 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 10 12,731 406.00 440.00 429.99 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 3,148 113.39 125.00 120.30 121D 4 Plate, Inside Skirt (IM) 15 40,406 353.00 380.00 358.29 121C 4 Plate, Outside Skirt (IM) 13 41,607 515.00 551.00 521.57 121E 6 Outside Skirt, pld (IM) 7 19,527 690.00 725.00 697.57

Cap, Wedge Meat & (IM) Lean 27 173,823 225.00 253.00 233.77

Pectoral Meat 23 90,093 228.39 252.00 234.07 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 180,715 151.00 180.10 157.12 Ground Beef 75% Ground Beef 81% 27 170,308 177.00 223.75 188.36 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 10 118,176 200.00 221.00 210.22 Ground Beef Round 85% 5 19,980 218.00 225.00 219.99 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 34,287 206.70 221.00 211.80 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% -------------------------------------------------------------------------------- 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.


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