Bloomberg News

USDA Boxed Beef Cutout Closing Prices for June 11

June 11, 2012

June 11 (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: 197.69 183.66 Change from prior day: 0.75 1.01 ------------------------------------------------------------------------------- Choice/Select spread: 14.02

Total Load Count (Cuts, Trimmings, Grids): 191 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 298.05 258.45 Primal Chuck 153.50 153.65 Primal Round 159.71 159.02 Primal Loin 299.44 254.94 Primal Brisket 138.50 136.15 Primal Short Plate 124.03 129.20 Primal Flank 105.83 98.11 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/08 83 56 24 32 194 196.94 182.65 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.10 184.47 -------------------------------------------------------------------------------- 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 83.61 loads 3,344,394 pounds Select Cuts 53.39 loads 2,135,549 pounds Trimmings 26.83 loads 1,073,357 pounds Ground Beef 27.20 load 1,087,962 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 35 204,903 603.08 638.50 612.92 112A 3 Rib, ribeye, bnls, light 6 6,545 693.00 725.00 709.89 112A 3 Rib, ribeye, bnls, heavy 47 66,009 658.00 712.50 696.20 113C 1 Chuck, semi-bnls, neck/off 6 46,129 190.00 207.52 192.49 114 1 Chuck, shoulder clod 6 23,417 198.92 207.10 204.91 114A 3 Chuck, shoulder clod, trmd 34 220,915 201.00 225.39 208.98 114D 3 Chuck, clod, top blade 10 7,911 285.00 310.11 296.43 114E 3 Chuck, clod, arm roast 12 64,417 220.00 253.00 235.53 114F 5 Chuck, clod tender (IM) 10 28,763 315.00 363.11 323.24 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 68 244,237 213.80 256.00 223.57 116B 1 Chuck, chuck tender (IM) 19 50,297 210.00 223.60 212.76

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 29 105,153 207.00 228.00 218.47 120A 3 Brisket, point/off, bnls 13 26,200 320.60 342.00 323.89 123A 3 Short Plate, short rib 26 41,106 265.00 373.00 305.92 130 4 Chuck, short rib 30 105,952 180.00 232.00 194.66 160 1 Round, bone-in 0 0 161 1 Round, boneless 7 1,511 199.00 212.00 203.79

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 40 134,462 215.00 239.98 225.67 168 1 Round, top inside round 16 92,046 200.00 210.10 206.52 168 3 Round, top inside round 36 279,145 203.00 223.00 210.19 169 5 Round, top inside, denuded 28 125,269 240.00 258.00 251.27

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 2,708 196.00 210.00 203.36 171B 3 Round, outside round 49 252,619 181.00 219.00 193.76 171C 3 Round, eye of round (IM) 52 113,138 204.00 233.00 209.44 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 190,900 638.00 666.50 651.70 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 7 12,196 670.00 695.00 677.07 180 3 Loin, strip, bnls, 0x1 38 99,125 748.08 786.00 765.94 184 1 Loin, top butt, bnls, heavy 6 4,067 339.81 351.00 341.76 184 3 Loin, top butt, boneless 37 205,517 360.00 375.00 363.30 185A 4 Loin, bottom sirloin, flap 15 67,256 450.00 479.60 462.93 185B 1 Loin, ball-tip, bnls, heavy 14 15,628 234.82 244.00 240.20 185C 1 Loin, sirloin, tri-tip (IM) 9 25,118 343.85 373.00 366.27 185D 4 Loin, tri-tip, pld (IM) 10 24,940 475.00 505.00 496.67 189A 4 Loin, tndrloin, trmd, heavy 30 179,978 955.00 986.59 967.88 191A 4 Loin, butt tender, trimmed 14 14,230 945.11 988.00 956.09 193 4 Flank, flank steak (IM) 22 20,375 456.00 470.11 463.85 ------------------------------------------------------------------------------- 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 16 12,772 522.00 550.00 530.30 112A 3 Rib, ribeye, bnls, light 6 6,854 580.00 596.00 583.70 112A 3 Rib, ribeye, bnls, heavy 34 132,487 550.00 601.00 581.13 113C 1 Chuck, semi-bnls, neck/off 8 12,964 194.00 210.00 202.50 114 1 Chuck, shoulder clod 8 50,769 190.00 217.80 193.66 114A 3 Chuck, shoulder clod, trmd 15 67,478 203.61 222.60 209.98 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 7 21,217 315.00 345.00 318.26 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 268,856 213.70 236.60 219.93 116B 1 Chuck, chuck tender (IM) 11 14,497 212.00 220.50 215.83

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 45,666 208.00 224.59 217.84 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 12 24,010 245.00 356.00 278.43 130 4 Chuck, short rib 10 59,687 180.00 211.00 188.75 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 15 140,921 203.92 229.82 215.90 168 1 Round, top inside round 16 80,687 199.00 218.49 205.84 168 3 Round, top inside round 12 62,321 205.00 236.50 210.91 169 5 Round, top inside, denuded 4 10,020 242.00 255.00 243.76

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 23 166,545 181.00 207.00 190.72 171C 3 Round, eye of round (IM) 18 53,661 205.25 222.00 211.40 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 23,120 494.00 550.00 516.97 175 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 33 86,851 460.00 567.00 492.80 184 1 Loin, top butt, bnls, heavy 8 147,851 275.00 306.00 278.25 184 3 Loin, top butt, boneless 21 81,430 288.00 327.00 302.25 185A 4 Loin, bottom sirloin, flap 5 36,296 418.00 460.25 424.19 185B 1 Loin, ball-tip, bnls, heavy 10 39,639 224.00 251.00 228.86 185C 1 Loin, sirloin, tri-tip (IM) 8 11,767 329.50 349.25 336.91 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 16 97,808 890.00 927.00 900.35 191A 4 Loin, butt tender, trimmed 9 4,126 902.00 937.00 922.78 193 4 Flank, flank steak (IM) 11 11,257 396.50 448.00 408.96 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 4,979 115.10 125.00 119.12 121D 4 Plate, Inside Skirt (IM) 26 199,038 352.00 381.00 358.00 121C 4 Plate, Outside Skirt (IM) 13 7,940 520.00 551.00 529.99 121E 6 Outside Skirt, pld (IM) 14 33,966 707.40 750.00 724.93

Cap, Wedge Meat & (IM) Lean 38 206,901 222.75 265.00 236.11

Pectoral Meat 26 67,964 230.35 255.55 238.96 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 54 405,299 142.00 177.00 154.26 Ground Beef 75% 0 0 Ground Beef 81% 41 386,403 174.00 217.50 181.48 Ground Beef 85% Ground Beef 90% Ground Beef 93% 6 11,598 258.50 270.00 265.59 Ground Beef Chuck 80% 16 65,295 187.00 207.00 197.31 Ground Beef Round 85% 19 84,806 212.00 225.00 220.07 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% 7 43,960 196.70 233.00 218.29 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 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 35 1,073,357 45.00 53.50 50.49 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.


Later, Baby
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