Bloomberg News

USDA Boxed Beef Cutout Closing Prices for June 13

June 13, 2012

June 13 (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: 197.76 182.03 Change from prior day: 0.28 (0.19) ------------------------------------------------------------------------------- Choice/Select spread: 15.73

Total Load Count (Cuts, Trimmings, Grids): 295 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 297.98 260.56 Primal Chuck 153.26 152.51 Primal Round 157.38 156.78 Primal Loin 303.23 250.32 Primal Brisket 136.60 134.58 Primal Short Plate 123.85 129.23 Primal Flank 105.36 98.68 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/12 90 77 14 32 212 197.48 182.22 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.33 183.52 -------------------------------------------------------------------------------- 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 121.05 loads 4,842,169 pounds Select Cuts 103.96 loads 4,158,573 pounds Trimmings 23.76 loads 950,403 pounds Ground Beef 45.97 load 1,838,892 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 50 26,321 610.00 651.00 631.58 112A 3 Rib, ribeye, bnls, light 27 46,849 678.00 726.00 687.67 112A 3 Rib, ribeye, bnls, heavy 117 213,340 675.29 730.00 702.00 113C 1 Chuck, semi-bnls, neck/off 13 28,761 195.00 210.00 198.98 114 1 Chuck, shoulder clod 27 79,797 191.00 215.00 201.64 114A 3 Chuck, shoulder clod, trmd 90 211,940 204.00 225.00 212.37 114D 3 Chuck, clod, top blade 17 22,633 280.00 306.25 300.75 114E 3 Chuck, clod, arm roast 14 133,417 213.40 235.00 219.69 114F 5 Chuck, clod tender (IM) 17 29,912 350.00 401.00 365.22 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 159 510,454 209.60 235.00 218.84 116B 1 Chuck, chuck tender (IM) 62 97,276 209.00 222.00 214.82

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 115 166,502 209.02 229.50 216.73 120A 3 Brisket, point/off, bnls 31 29,490 298.53 349.75 323.68 123A 3 Short Plate, short rib 58 63,645 262.50 346.50 307.77 130 4 Chuck, short rib 81 141,739 182.00 216.00 193.40 160 1 Round, bone-in 10 8,930 191.00 204.00 197.78 161 1 Round, boneless 17 60,643 194.00 210.61 200.17

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 126 250,375 211.00 233.00 218.21 168 1 Round, top inside round 96 237,805 195.00 213.15 202.01 168 3 Round, top inside round 69 690,647 198.57 227.50 208.06 169 5 Round, top inside, denuded 40 104,267 237.00 254.00 240.95

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 6,289 194.50 205.00 200.09 171B 3 Round, outside round 110 445,227 184.35 201.00 190.43 171C 3 Round, eye of round (IM) 83 101,307 200.00 221.30 208.14 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 41 25,105 652.19 682.00 671.24 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 23 20,897 662.00 686.00 675.93 180 3 Loin, strip, bnls, 0x1 94 95,549 757.00 799.00 781.52 184 1 Loin, top butt, bnls, heavy 56 37,930 345.00 358.00 347.58 184 3 Loin, top butt, boneless 53 106,716 344.55 380.00 362.04 185A 4 Loin, bottom sirloin, flap 64 72,961 450.00 480.00 465.62 185B 1 Loin, ball-tip, bnls, heavy 55 96,843 225.00 254.52 234.15 185C 1 Loin, sirloin, tri-tip (IM) 21 28,206 354.20 371.00 358.44 185D 4 Loin, tri-tip, pld (IM) 36 37,357 470.00 507.39 474.34 189A 4 Loin, tndrloin, trmd, heavy 113 187,115 954.33 1043.60 971.37 191A 4 Loin, butt tender, trimmed 9 7,431 947.00 980.00 951.09 193 4 Flank, flank steak (IM) 18 24,897 450.00 481.00 464.61 ------------------------------------------------------------------------------- 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 41 137,652 513.00 543.03 524.73 112A 3 Rib, ribeye, bnls, light 29 93,645 548.00 596.00 567.18 112A 3 Rib, ribeye, bnls, heavy 58 138,361 548.00 599.28 576.09 113C 1 Chuck, semi-bnls, neck/off 23 48,170 194.00 213.00 203.44 114 1 Chuck, shoulder clod 25 137,872 191.00 215.00 197.19 114A 3 Chuck, shoulder clod, trmd 24 72,069 205.00 225.00 214.32 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 9 15,113 329.00 355.43 336.17 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 73 336,191 213.00 236.50 218.70 116B 1 Chuck, chuck tender (IM) 27 37,543 210.00 230.00 215.53

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 24 130,528 200.89 225.00 208.12 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 16 5,794 245.00 325.00 277.89 130 4 Chuck, short rib 28 41,127 188.00 200.00 192.14 160 1 Round, bone-in 161 1 Round, boneless 12 30,449 192.00 215.11 204.46

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 42 163,411 211.00 235.00 215.61 168 1 Round, top inside round 38 260,084 195.00 209.11 198.72 168 3 Round, top inside round 49 268,574 204.00 220.00 208.69 169 5 Round, top inside, denuded 13 14,462 242.00 251.00 244.54

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 2,423 196.00 210.00 199.31 171B 3 Round, outside round 47 263,137 182.00 204.11 187.74 171C 3 Round, eye of round (IM) 31 38,573 200.00 220.00 208.87 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 40 79,925 480.00 557.00 526.81 175 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 59 344,359 480.00 566.00 506.08 184 1 Loin, top butt, bnls, heavy 24 59,489 275.00 296.00 285.88 184 3 Loin, top butt, boneless 53 285,340 275.00 323.61 284.32 185A 4 Loin, bottom sirloin, flap 5 32,149 445.00 460.00 457.75 185B 1 Loin, ball-tip, bnls, heavy 31 52,210 220.00 246.17 228.84 185C 1 Loin, sirloin, tri-tip (IM) 24 143,590 295.00 348.61 319.44 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 38 131,617 869.33 960.00 890.45 191A 4 Loin, butt tender, trimmed 10 3,445 900.00 930.00 919.38 193 4 Flank, flank steak (IM) 21 88,496 400.00 449.46 414.02 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 20 115,883 113.39 138.61 117.22 121D 4 Plate, Inside Skirt (IM) 26 48,189 354.00 380.00 360.55 121C 4 Plate, Outside Skirt (IM) 32 47,617 505.00 555.00 532.59 121E 6 Outside Skirt, pld (IM) 17 33,251 701.70 766.50 735.66

Cap, Wedge Meat & (IM) Lean 84 333,418 227.00 250.30 233.54

Pectoral Meat 54 126,549 229.00 257.00 236.57 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 90 347,029 140.73 179.03 152.95 Ground Beef 75% Ground Beef 81% 113 482,910 173.00 219.61 183.92 Ground Beef 85% Ground Beef 90% Ground Beef 93% 39 113,750 247.50 283.61 257.72 Ground Beef Chuck 80% 47 298,017 179.00 215.82 190.66 Ground Beef Round 85% 43 185,338 210.00 226.00 215.86 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% 16 79,298 197.60 223.51 204.73 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 26 911,873 45.00 56.00 47.92 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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