Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 197.26 182.71 Change from prior day: (0.16) (1.60) ------------------------------------------------------------------------------- Choice/Select spread: 14.55

Total Load Count (Cuts, Trimmings, Grids): 136 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 294.74 255.22 Primal Chuck 153.99 153.02 Primal Round 160.94 161.10 Primal Loin 298.35 250.81 Primal Brisket 135.95 135.43 Primal Short Plate 122.80 127.55 Primal Flank 105.16 102.83 -------------------------------------------------------------------------------- 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 53.16 loads 2,126,457 pounds Select Cuts 43.56 loads 1,742,255 pounds Trimmings 20.33 loads 813,298 pounds Ground Beef 19.01 load 760,289 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 14 89,546 588.00 615.00 604.52 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 15 20,234 655.00 712.00 677.98 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 6 67,581 196.00 215.00 197.94 114A 3 Chuck, shoulder clod, trmd 18 178,521 205.00 229.85 207.89 114D 3 Chuck, clod, top blade 4 8,695 295.00 305.50 301.36 114E 3 Chuck, clod, arm roast 16 53,799 229.50 255.00 238.26 114F 5 Chuck, clod tender (IM) 4 3,927 355.57 394.00 363.62 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 27 240,586 216.00 232.00 219.17 116B 1 Chuck, chuck tender (IM) 14 84,614 208.00 224.48 213.31

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 20 68,104 209.66 226.00 214.33 120A 3 Brisket, point/off, bnls 15 9,525 317.00 336.00 322.45 123A 3 Short Plate, short rib 11 123,062 264.00 346.50 267.72 130 4 Chuck, short rib 27 128,314 180.00 207.50 189.18 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 30 119,573 219.00 233.74 223.45 168 1 Round, top inside round 10 19,430 199.00 210.00 205.10 168 3 Round, top inside round 10 12,384 210.00 229.00 214.58 169 5 Round, top inside, denuded 16 61,930 242.00 262.00 250.76

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 5,433 191.00 210.00 196.34 171B 3 Round, outside round 37 272,649 188.00 215.00 196.01 171C 3 Round, eye of round (IM) 22 43,178 208.00 220.00 211.20 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 12 48,564 640.00 657.00 646.54 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 7 5,266 646.00 665.00 663.40 180 3 Loin, strip, bnls, 0x1 17 73,989 747.57 771.50 760.84 184 1 Loin, top butt, bnls, heavy 7 6,691 340.00 347.00 341.81 184 3 Loin, top butt, boneless 24 78,174 340.00 370.00 360.47 185A 4 Loin, bottom sirloin, flap 24 65,186 439.00 471.00 457.78 185B 1 Loin, ball-tip, bnls, heavy 18 33,468 235.00 256.00 245.84 185C 1 Loin, sirloin, tri-tip (IM) 6 6,841 350.00 370.00 361.88 185D 4 Loin, tri-tip, pld (IM) 9 9,550 450.00 486.50 470.16 189A 4 Loin, tndrloin, trmd, heavy 24 51,149 952.98 995.74 969.03 191A 4 Loin, butt tender, trimmed 3 2,661 950.94 951.00 950.98 193 4 Flank, flank steak (IM) 9 10,287 452.00 465.00 456.56 ------------------------------------------------------------------------------- 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 18,773 510.00 535.00 522.64 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 9 9,977 548.00 595.30 573.56 113C 1 Chuck, semi-bnls, neck/off 6 94,395 187.00 204.00 187.95 114 1 Chuck, shoulder clod 7 46,795 190.42 211.18 203.64 114A 3 Chuck, shoulder clod, trmd 10 127,976 205.00 220.00 207.88 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 7 11,312 345.00 355.64 353.42 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 18 108,381 218.00 231.00 224.12 116B 1 Chuck, chuck tender (IM) 4 42,935 212.50 226.00 212.78

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 11,482 245.00 330.00 283.65 130 4 Chuck, short rib 13 97,926 183.00 210.00 185.63 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 13 76,096 219.00 234.48 223.92 168 1 Round, top inside round 3 16,429 199.30 211.18 206.17 168 3 Round, top inside round 8 37,671 206.35 222.00 210.00 169 5 Round, top inside, denuded 4 16,444 241.00 251.50 241.77

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 18 293,413 188.00 204.48 191.69 171C 3 Round, eye of round (IM) 9 15,034 201.00 215.00 205.73 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 10 106,632 474.74 550.50 489.75 175 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 9 38,451 503.57 541.00 509.57 184 1 Loin, top butt, bnls, heavy 13 55,285 283.41 305.18 293.04 184 3 Loin, top butt, boneless 11 32,732 290.86 315.00 298.02 185A 4 Loin, bottom sirloin, flap 8 13,758 435.56 461.00 449.49 185B 1 Loin, ball-tip, bnls, heavy 7 69,244 229.00 235.00 229.89 185C 1 Loin, sirloin, tri-tip (IM) 6 17,268 321.00 335.74 322.46 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 11 39,262 890.00 920.50 901.46 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 6,899 112.57 130.00 118.93 121D 4 Plate, Inside Skirt (IM) 39 183,957 351.57 380.00 360.02 121C 4 Plate, Outside Skirt (IM) 16 32,962 500.00 546.00 519.40 121E 6 Outside Skirt, pld (IM) 10 28,479 708.00 745.00 717.78

Cap, Wedge Meat & (IM) Lean 19 140,310 228.00 240.00 230.42

Pectoral Meat 12 11,656 235.00 252.00 241.39 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 32 206,948 140.00 177.00 155.85 Ground Beef 75% Ground Beef 81% 20 270,771 172.00 209.74 178.94 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 4 4,947 258.50 272.00 261.22 Ground Beef Chuck 80% 12 131,570 184.00 209.00 195.54 Ground Beef Round 85% 5 19,376 218.53 225.00 221.90 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% 4 37,191 197.60 223.00 212.77 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% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 25 813,298 50.20 55.00 51.17 Frozen 50% lean trimmings 0 0 -------------------------------------------------------------------------------- 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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