Bloomberg News

USDA Boxed Beef Cutout Midday Prices for June 5

June 05, 2012

June 5 (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: 197.95 186.33 Change from prior day: 0.33 0.84 ------------------------------------------------------------------------------- Choice/Select spread: 11.61

Total Load Count (Cuts, Trimmings, Grids): 114 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 287.29 259.31 Primal Chuck 158.60 157.12 Primal Round 163.24 161.66 Primal Loin 295.99 259.06 Primal Brisket 135.57 134.34 Primal Short Plate 124.97 130.26 Primal Flank 105.49 100.97 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/04 84 48 5 23 161 197.62 185.49 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 196.98 186.64 -------------------------------------------------------------------------------- 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 42.48 loads 1,699,367 pounds Select Cuts 33.74 loads 1,349,462 pounds Trimmings 6.06 loads 242,483 pounds Ground Beef 32.21 load 1,288,293 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 17 15,881 570.78 630.15 610.40 112A 3 Rib, ribeye, bnls, light 6 5,320 653.15 702.00 696.66 112A 3 Rib, ribeye, bnls, heavy 43 51,411 645.00 700.00 667.44 113C 1 Chuck, semi-bnls, neck/off 3 24,134 205.00 210.60 205.55 114 1 Chuck, shoulder clod 16 40,223 199.00 212.00 205.07 114A 3 Chuck, shoulder clod, trmd 16 123,626 210.00 225.00 213.00 114D 3 Chuck, clod, top blade 10 31,881 270.50 296.00 293.24 114E 3 Chuck, clod, arm roast 11 92,094 224.30 254.00 225.65 114F 5 Chuck, clod tender (IM) 5 3,573 360.00 385.00 363.95 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 19 39,806 225.00 241.00 232.94 116B 1 Chuck, chuck tender (IM) 10 15,195 211.72 226.50 216.93

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 45 115,642 200.00 226.00 211.12 120A 3 Brisket, point/off, bnls 10 14,331 301.67 339.00 319.73 123A 3 Short Plate, short rib 17 32,763 240.00 355.00 322.67 130 4 Chuck, short rib 13 23,643 183.00 225.00 196.29 160 1 Round, bone-in 5 9,969 196.71 211.00 202.36 161 1 Round, boneless 3 14,624 207.00 216.00 207.72

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 26 79,959 225.00 242.00 231.91 168 1 Round, top inside round 17 76,704 206.25 216.00 211.28 168 3 Round, top inside round 15 97,108 210.00 233.36 215.63 169 5 Round, top inside, denuded 3 4,524 249.00 254.64 249.52

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 6,830 199.00 204.00 199.61 171B 3 Round, outside round 25 142,291 188.00 214.00 193.36 171C 3 Round, eye of round (IM) 19 40,457 201.27 227.00 213.10 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 11 18,320 619.64 664.00 655.90 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 5 6,440 640.00 650.71 640.81 180 3 Loin, strip, bnls, 0x1 35 86,738 665.00 770.00 757.94 184 1 Loin, top butt, bnls, heavy 14 27,813 322.00 344.50 333.73 184 3 Loin, top butt, boneless 12 18,388 360.00 372.78 365.53 185A 4 Loin, bottom sirloin, flap 22 56,493 441.00 472.78 452.92 185B 1 Loin, ball-tip, bnls, heavy 8 77,338 225.00 254.64 233.45 185C 1 Loin, sirloin, tri-tip (IM) 7 38,921 320.00 365.00 357.81 185D 4 Loin, tri-tip, pld (IM) 10 6,295 465.00 482.00 473.16 189A 4 Loin, tndrloin, trmd, heavy 10 13,070 871.50 985.00 962.91 191A 4 Loin, butt tender, trimmed 10 19,615 906.00 980.00 957.37 193 4 Flank, flank steak (IM) 15 12,696 425.00 486.00 445.28 ------------------------------------------------------------------------------- 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 19 40,458 515.00 538.61 519.16 112A 3 Rib, ribeye, bnls, light 4 13,666 569.63 592.23 587.26 112A 3 Rib, ribeye, bnls, heavy 26 29,312 562.00 598.61 575.70 113C 1 Chuck, semi-bnls, neck/off 11 26,740 205.00 210.61 206.12 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 12 28,664 216.50 226.00 221.17 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 7 3,311 332.00 360.50 339.13 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 32 114,240 221.00 236.70 228.38 116B 1 Chuck, chuck tender (IM) 11 27,084 210.00 225.00 214.11

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 15 107,349 204.96 225.00 208.60 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 6 14,623 245.00 366.00 296.41 130 4 Chuck, short rib 4 7,678 188.75 215.00 198.83 160 1 Round, bone-in 161 1 Round, boneless 4 4,729 212.75 216.61 212.93

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 20 70,237 225.00 246.00 230.12 168 1 Round, top inside round 9 46,852 205.82 215.00 209.27 168 3 Round, top inside round 13 13,767 211.00 221.00 216.64 169 5 Round, top inside, denuded 5 23,677 246.06 255.40 254.94

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 1,405 204.00 210.00 206.56 171B 3 Round, outside round 30 169,556 188.00 209.11 194.00 171C 3 Round, eye of round (IM) 18 45,798 195.00 220.00 204.85 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 11 11,373 529.00 560.50 541.80 175 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 20 15,074 514.00 566.00 526.50 184 1 Loin, top butt, bnls, heavy 4 7,940 295.00 312.00 296.21 184 3 Loin, top butt, boneless 8 46,154 293.00 305.76 296.96 185A 4 Loin, bottom sirloin, flap 7 25,120 425.40 451.00 426.56 185B 1 Loin, ball-tip, bnls, heavy 18 89,424 224.00 243.61 229.79 185C 1 Loin, sirloin, tri-tip (IM) 9 3,653 315.00 336.50 325.88 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 18 16,523 900.00 966.00 918.44 191A 4 Loin, butt tender, trimmed 8 7,613 849.92 934.74 866.72 193 4 Flank, flank steak (IM) 17 23,476 400.00 436.00 416.34 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 25 86,406 346.00 365.00 353.99 121C 4 Plate, Outside Skirt (IM) 18 32,403 515.00 545.00 521.19 121E 6 Outside Skirt, pld (IM) 12 17,964 695.00 755.00 722.82

Cap, Wedge Meat & (IM) Lean 26 76,976 224.15 251.00 233.06

Pectoral Meat 23 45,852 228.39 250.00 236.02 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 42 492,593 150.00 176.00 154.48 Ground Beef 75% Ground Beef 81% 14 152,551 182.00 220.00 202.98 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 19 171,630 247.58 283.03 259.09 Ground Beef Chuck 80% 17 101,624 201.00 230.00 203.47 Ground Beef Round 85% 12 61,645 211.76 224.00 214.22 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 25,760 203.50 229.00 221.41 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 7 200,833 50.00 54.50 52.41 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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