Bloomberg News

USDA Boxed Beef Cutout Midday Prices for June 22

June 22, 2012

June 22 (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: 196.90 180.44 Change from prior day: (0.31) 0.48 ------------------------------------------------------------------------------- Choice/Select spread: 16.46

Total Load Count (Cuts, Trimmings, Grids): 97 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 307.55 262.95 Primal Chuck 146.97 146.11 Primal Round 154.90 154.70 Primal Loin 304.78 252.56 Primal Brisket 139.27 137.60 Primal Short Plate 123.80 127.71 Primal Flank 105.69 98.20 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/21 88 75 29 33 225 197.21 179.96 06/20 98 96 12 43 249 198.00 180.22 06/19 67 68 25 32 192 197.94 181.03 06/18 97 50 15 20 182 197.49 180.60 06/15 77 54 19 46 196 198.00 181.11 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.73 180.59 -------------------------------------------------------------------------------- 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 39.40 loads 1,575,952 pounds Select Cuts 41.44 loads 1,657,748 pounds Trimmings 1.05 loads 42,000 pounds Ground Beef 15.19 load 607,415 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 21,714 636.10 665.00 644.11 112A 3 Rib, ribeye, bnls, light 5 12,391 717.00 740.50 734.85 112A 3 Rib, ribeye, bnls, heavy 20 30,266 699.00 756.00 723.02 113C 1 Chuck, semi-bnls, neck/off 7 28,314 190.00 205.00 195.06 114 1 Chuck, shoulder clod 11 121,909 187.00 200.99 188.04 114A 3 Chuck, shoulder clod, trmd 23 149,520 190.88 212.00 197.74 114D 3 Chuck, clod, top blade 4 3,156 270.00 300.75 295.92 114E 3 Chuck, clod, arm roast 3 23,968 216.00 238.78 216.49 114F 5 Chuck, clod tender (IM) 8 3,599 355.00 380.00 357.46 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 49 290,749 206.00 228.00 211.95 116B 1 Chuck, chuck tender (IM) 23 50,483 210.00 220.00 214.71

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 19 41,152 213.00 228.50 218.52 120A 3 Brisket, point/off, bnls 8 6,713 310.00 343.00 331.91 123A 3 Short Plate, short rib 5 8,270 315.00 330.00 318.45 130 4 Chuck, short rib 18 65,702 189.00 231.00 194.06 160 1 Round, bone-in 4 2,462 189.55 201.50 198.44 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 35 188,278 200.00 220.65 205.89 168 1 Round, top inside round 20 120,634 195.00 208.99 198.34 168 3 Round, top inside round 13 35,317 203.50 220.00 211.75 169 5 Round, top inside, denuded 5 46,730 248.00 252.00 248.73

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 4,880 191.00 196.00 192.25 171B 3 Round, outside round 20 46,816 184.38 200.00 193.78 171C 3 Round, eye of round (IM) 22 55,969 190.00 215.50 205.51 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 8 2,027 676.50 698.00 689.68 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 3,336 673.78 701.00 691.47 180 3 Loin, strip, bnls, 0x1 15 38,189 783.50 832.00 799.02 184 1 Loin, top butt, bnls, heavy 4 3,337 348.78 350.00 349.74 184 3 Loin, top butt, boneless 18 21,581 356.60 380.00 368.17 185A 4 Loin, bottom sirloin, flap 13 15,352 460.00 485.00 478.87 185B 1 Loin, ball-tip, bnls, heavy 11 17,127 225.00 250.00 238.50 185C 1 Loin, sirloin, tri-tip (IM) 4 9,876 323.00 374.00 333.92 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 28,021 950.00 995.00 970.15 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 7,017 464.00 480.60 468.80 ------------------------------------------------------------------------------- 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 8 23,394 501.46 536.00 530.30 112A 3 Rib, ribeye, bnls, light 12 24,276 549.30 602.00 583.75 112A 3 Rib, ribeye, bnls, heavy 26 43,802 545.63 597.00 581.85 113C 1 Chuck, semi-bnls, neck/off 9 59,059 190.00 205.00 192.94 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 13 38,062 194.30 211.00 202.68 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 2,798 310.00 315.00 313.59 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 198,755 207.09 222.00 211.81 116B 1 Chuck, chuck tender (IM) 5 28,411 210.00 227.00 212.49

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 8 29,455 203.63 225.00 213.28 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 8 82,456 215.00 320.00 227.32 130 4 Chuck, short rib 11 35,346 181.00 211.00 188.05 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 80,961 203.00 218.30 207.32 168 1 Round, top inside round 11 84,182 197.00 203.00 199.59 168 3 Round, top inside round 10 45,984 202.67 218.00 208.20 169 5 Round, top inside, denuded 6 8,346 239.00 254.36 241.02

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 1,491 192.50 200.00 198.49 171B 3 Round, outside round 13 38,278 184.79 200.00 192.12 171C 3 Round, eye of round (IM) 6 5,087 206.50 215.00 211.56 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 9,633 508.05 560.00 530.64 175 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 34,675 490.88 565.00 503.20 184 1 Loin, top butt, bnls, heavy 13 118,163 266.00 297.00 269.80 184 3 Loin, top butt, boneless 18 66,342 281.00 309.45 285.58 185A 4 Loin, bottom sirloin, flap 8 70,510 421.63 476.00 425.10 185B 1 Loin, ball-tip, bnls, heavy 5 5,779 225.00 235.50 227.78 185C 1 Loin, sirloin, tri-tip (IM) 9 9,298 310.64 343.78 323.48 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 15 78,595 840.85 926.50 891.00 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 9 5,210 400.00 450.52 428.88 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 46,241 97.61 140.00 101.60 121D 4 Plate, Inside Skirt (IM) 31 186,972 358.00 380.00 360.35 121C 4 Plate, Outside Skirt (IM) 19 17,119 514.30 560.50 539.50 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 29 186,727 220.85 255.00 229.74

Pectoral Meat 10 9,553 233.00 260.00 236.26 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 14 213,315 140.00 151.50 147.12 Ground Beef 75% Ground Beef 81% 22 126,964 156.00 193.50 166.32 Ground Beef 85% Ground Beef 90% Ground Beef 93% 12 32,037 236.00 262.00 241.96 Ground Beef Chuck 80% 7 45,129 174.00 186.00 179.23 Ground Beef Round 85% 5 14,809 209.25 224.94 215.00 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% 3 27,538 198.00 212.25 200.73 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 0 0 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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