Bloomberg News

USDA Boxed Beef Cutout Midday Prices for June 12

June 12, 2012

June 12 (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: 197.63 182.63 Change from prior day: (0.06) (1.03) ------------------------------------------------------------------------------- Choice/Select spread: 15.00

Total Load Count (Cuts, Trimmings, Grids): 145 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 298.21 259.14 Primal Chuck 153.51 152.74 Primal Round 158.60 157.72 Primal Loin 300.43 251.67 Primal Brisket 136.93 136.58 Primal Short Plate 124.77 130.17 Primal Flank 105.42 99.51 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/11 84 53 27 27 191 197.69 183.66 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.11 184.11 -------------------------------------------------------------------------------- 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 60.56 loads 2,422,378 pounds Select Cuts 53.35 loads 2,133,897 pounds Trimmings 8.02 loads 320,636 pounds Ground Beef 22.80 load 911,997 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 13 38,089 590.00 642.00 612.52 112A 3 Rib, ribeye, bnls, light 9 10,008 680.00 721.50 700.64 112A 3 Rib, ribeye, bnls, heavy 46 48,095 655.00 715.00 684.16 113C 1 Chuck, semi-bnls, neck/off 4 15,179 190.00 205.00 192.20 114 1 Chuck, shoulder clod 17 65,936 192.00 212.00 201.28 114A 3 Chuck, shoulder clod, trmd 24 218,197 204.00 223.75 208.06 114D 3 Chuck, clod, top blade 4 17,480 289.57 300.00 291.22 114E 3 Chuck, clod, arm roast 4 7,785 224.35 261.25 231.87 114F 5 Chuck, clod tender (IM) 11 10,748 350.03 392.00 364.56 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 40 266,573 215.60 229.00 218.91 116B 1 Chuck, chuck tender (IM) 9 11,434 210.00 222.00 214.98

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 29 81,898 192.00 228.00 209.24 120A 3 Brisket, point/off, bnls 6 8,661 326.03 357.00 338.08 123A 3 Short Plate, short rib 18 38,395 265.00 367.00 330.39 130 4 Chuck, short rib 20 46,690 186.05 230.54 197.96 160 1 Round, bone-in 6 8,684 188.50 211.50 208.20 161 1 Round, boneless 3 16,435 205.00 213.00 206.75

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 31 167,020 215.00 232.00 220.75 168 1 Round, top inside round 34 323,469 195.00 215.70 199.00 168 3 Round, top inside round 31 271,111 200.00 234.00 207.44 169 5 Round, top inside, denuded 5 7,050 240.00 265.54 245.43

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 46 282,707 185.50 205.00 190.19 171C 3 Round, eye of round (IM) 21 31,519 201.50 239.00 213.08 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 10 6,349 640.00 680.58 666.57 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 4 5,804 642.00 665.00 663.30 180 3 Loin, strip, bnls, 0x1 29 41,132 700.00 785.15 755.40 184 1 Loin, top butt, bnls, heavy 12 14,173 332.00 352.00 338.42 184 3 Loin, top butt, boneless 15 43,768 358.00 375.00 360.86 185A 4 Loin, bottom sirloin, flap 12 44,140 450.00 476.00 461.00 185B 1 Loin, ball-tip, bnls, heavy 4 4,957 240.00 256.00 253.49 185C 1 Loin, sirloin, tri-tip (IM) 9 14,139 341.88 370.25 365.13 185D 4 Loin, tri-tip, pld (IM) 5 1,257 476.00 498.00 480.71 189A 4 Loin, tndrloin, trmd, heavy 12 22,581 965.00 1016.00 994.00 191A 4 Loin, butt tender, trimmed 7 5,236 934.00 982.00 942.30 193 4 Flank, flank steak (IM) 18 16,283 435.00 469.00 451.56 ------------------------------------------------------------------------------- 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 15 50,203 515.00 535.00 526.53 112A 3 Rib, ribeye, bnls, light 8 26,188 555.00 591.09 564.42 112A 3 Rib, ribeye, bnls, heavy 33 56,360 563.00 597.00 583.46 113C 1 Chuck, semi-bnls, neck/off 7 30,998 194.50 209.75 198.27 114 1 Chuck, shoulder clod 14 209,035 191.00 210.00 198.98 114A 3 Chuck, shoulder clod, trmd 18 119,661 203.95 216.00 209.73 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 178,026 214.00 228.75 219.43 116B 1 Chuck, chuck tender (IM) 7 13,811 213.00 220.15 214.47

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 53,118 203.50 244.00 210.29 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 8,971 245.00 355.00 319.62 130 4 Chuck, short rib 9 41,516 190.00 210.00 195.53 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 16 67,446 217.00 231.00 223.87 168 1 Round, top inside round 29 300,398 195.00 213.65 196.98 168 3 Round, top inside round 9 80,476 200.00 215.54 206.91 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 2,149 191.00 210.00 199.97 171B 3 Round, outside round 33 285,450 187.25 200.00 191.24 171C 3 Round, eye of round (IM) 18 41,041 202.00 220.54 208.92 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 30,482 485.00 550.54 504.29 175 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 13 13,852 504.00 565.00 521.10 184 1 Loin, top butt, bnls, heavy 4 12,713 286.03 304.00 290.02 184 3 Loin, top butt, boneless 11 131,165 276.00 305.00 286.04 185A 4 Loin, bottom sirloin, flap 6 15,165 425.47 450.00 435.48 185B 1 Loin, ball-tip, bnls, heavy 7 12,034 218.39 240.00 226.33 185C 1 Loin, sirloin, tri-tip (IM) 4 9,834 325.00 335.50 332.94 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 22 102,820 890.00 928.75 892.92 191A 4 Loin, butt tender, trimmed 5 1,747 896.25 932.80 908.41 193 4 Flank, flank steak (IM) 8 17,406 415.00 448.00 423.33 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 24,542 111.85 120.65 113.35 121D 4 Plate, Inside Skirt (IM) 21 39,705 351.00 372.00 360.42 121C 4 Plate, Outside Skirt (IM) 13 16,726 505.00 550.00 526.82 121E 6 Outside Skirt, pld (IM) 4 3,306 702.20 722.00 717.44

Cap, Wedge Meat & (IM) Lean 17 76,688 227.25 256.00 234.80

Pectoral Meat 16 52,688 229.44 245.00 234.58 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 36 311,771 142.56 177.00 160.46 Ground Beef 75% Ground Beef 81% 27 236,646 172.00 215.00 188.88 Ground Beef 85% Ground Beef 90% Ground Beef 93% 13 86,496 250.00 260.58 256.86 Ground Beef Chuck 80% 12 119,133 190.00 228.00 193.72 Ground Beef Round 85% 11 34,661 212.00 220.54 213.58 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% Blended Ground Beef 81% 3 14,723 198.60 203.00 200.52 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% 0 0 Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 11 320,636 50.50 52.00 50.99 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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