Bloomberg News

USDA Boxed Beef Cutout Closing Prices for June 8

June 08, 2012

June 8 (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: 196.94 182.65 Change from prior day: (0.48) (1.66) ------------------------------------------------------------------------------- Choice/Select spread: 14.29

Total Load Count (Cuts, Trimmings, Grids): 194 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 294.62 255.25 Primal Chuck 153.64 153.34 Primal Round 160.16 160.66 Primal Loin 297.97 251.10 Primal Brisket 136.90 134.41 Primal Short Plate 122.77 127.43 Primal Flank 105.25 100.99 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/07 77 58 38 28 201 197.42 184.31 06/06 130 107 27 67 331 197.13 184.77 06/05 121 92 17 45 274 196.40 185.15 06/04 84 48 5 23 161 197.62 185.49 06/01 68 73 38 35 214 197.25 185.36 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.16 185.01 -------------------------------------------------------------------------------- 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 82.93 loads 3,317,032 pounds Select Cuts 55.98 loads 2,239,090 pounds Trimmings 23.61 loads 944,568 pounds Ground Beef 31.95 load 1,278,026 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 89,811 588.00 625.00 604.58 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 20 36,637 655.00 712.00 682.37 113C 1 Chuck, semi-bnls, neck/off 4 5,942 201.00 205.00 201.90 114 1 Chuck, shoulder clod 10 80,354 196.00 215.00 198.85 114A 3 Chuck, shoulder clod, trmd 32 199,147 205.00 229.85 208.60 114D 3 Chuck, clod, top blade 8 9,885 295.00 305.50 301.30 114E 3 Chuck, clod, arm roast 20 99,227 229.50 255.00 240.76 114F 5 Chuck, clod tender (IM) 9 7,547 355.57 394.00 364.73 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 47 391,373 215.50 233.84 218.84 116B 1 Chuck, chuck tender (IM) 20 107,358 208.00 225.00 212.90

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 33 175,620 209.66 227.00 217.21 120A 3 Brisket, point/off, bnls 20 16,475 300.00 336.00 318.53 123A 3 Short Plate, short rib 17 134,036 263.50 355.00 273.63 130 4 Chuck, short rib 37 161,423 180.00 230.00 193.17 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 47 247,518 213.00 235.00 220.59 168 1 Round, top inside round 14 24,942 199.00 210.00 205.50 168 3 Round, top inside round 25 197,751 204.25 229.00 208.79 169 5 Round, top inside, denuded 19 66,498 242.00 262.00 250.79

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 14,580 191.00 210.00 196.80 171B 3 Round, outside round 56 363,364 188.00 215.00 195.68 171C 3 Round, eye of round (IM) 31 66,141 203.00 221.79 209.62 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 14 50,220 640.00 665.30 646.86 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 8 7,191 646.00 665.00 660.28 180 3 Loin, strip, bnls, 0x1 20 94,963 747.57 771.50 762.82 184 1 Loin, top butt, bnls, heavy 8 6,763 340.00 350.79 341.90 184 3 Loin, top butt, boneless 32 100,632 340.00 370.00 358.49 185A 4 Loin, bottom sirloin, flap 31 84,012 439.00 475.00 458.11 185B 1 Loin, ball-tip, bnls, heavy 26 65,225 229.00 256.00 238.32 185C 1 Loin, sirloin, tri-tip (IM) 8 17,631 350.00 375.00 369.64 185D 4 Loin, tri-tip, pld (IM) 10 9,712 450.00 486.50 470.35 189A 4 Loin, tndrloin, trmd, heavy 33 123,622 952.98 995.74 962.62 191A 4 Loin, butt tender, trimmed 4 2,727 950.94 974.20 951.54 193 4 Flank, flank steak (IM) 13 12,324 452.00 478.50 458.48 ------------------------------------------------------------------------------- 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 10 18,932 510.00 535.00 522.59 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 11 11,407 548.00 595.30 574.39 113C 1 Chuck, semi-bnls, neck/off 8 132,877 187.00 210.00 188.60 114 1 Chuck, shoulder clod 10 58,369 190.42 211.58 204.45 114A 3 Chuck, shoulder clod, trmd 21 157,366 205.00 220.00 208.68 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 8 11,404 345.00 355.64 353.40 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 27 140,295 217.00 231.00 223.25 116B 1 Chuck, chuck tender (IM) 8 59,386 207.00 226.00 212.19

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 5 30,238 205.00 225.00 206.40 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 9 17,541 245.00 355.00 301.92 130 4 Chuck, short rib 16 103,811 180.00 210.00 185.44 160 1 Round, bone-in 161 1 Round, boneless 4 5,912 201.00 211.50 209.82

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 104,806 217.00 234.48 222.70 168 1 Round, top inside round 10 41,511 197.47 211.58 205.36 168 3 Round, top inside round 14 62,193 203.00 222.00 209.76 169 5 Round, top inside, denuded 4 16,444 241.00 251.50 241.77

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 29 365,808 188.00 204.48 191.58 171C 3 Round, eye of round (IM) 14 18,298 201.00 215.00 206.75 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 14 107,365 474.74 550.50 490.06 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 18 46,722 484.00 565.00 508.12 184 1 Loin, top butt, bnls, heavy 15 56,948 283.41 305.18 292.91 184 3 Loin, top butt, boneless 16 41,549 290.86 315.00 299.95 185A 4 Loin, bottom sirloin, flap 11 14,981 435.56 461.00 450.20 185B 1 Loin, ball-tip, bnls, heavy 13 117,197 222.00 235.00 227.81 185C 1 Loin, sirloin, tri-tip (IM) 8 18,584 307.00 335.74 321.65 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 57,631 880.00 947.29 897.14 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 6 24,660 394.00 447.89 408.44 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 9 8,730 112.57 130.00 119.44 121D 4 Plate, Inside Skirt (IM) 46 196,147 351.57 380.00 360.23 121C 4 Plate, Outside Skirt (IM) 19 41,175 500.00 546.00 521.79 121E 6 Outside Skirt, pld (IM) 11 29,847 700.00 745.00 716.97

Cap, Wedge Meat & (IM) Lean 33 188,092 224.50 250.50 230.62

Pectoral Meat 23 80,664 228.73 252.00 234.57 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 40 326,890 140.00 177.00 153.19 Ground Beef 75% Ground Beef 81% 33 336,957 172.00 213.18 181.34 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 12 33,261 258.50 272.00 268.68 Ground Beef Chuck 80% 22 225,510 182.00 209.00 198.61 Ground Beef Round 85% 9 27,807 215.00 225.00 219.81 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% 9 112,043 197.60 223.00 205.52 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 29 900,068 50.20 55.00 51.23 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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