Bloomberg News

USDA Boxed Beef Cutout Closing Prices for June 27

June 27, 2012

June 27 (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: 197.93 180.32 Change from prior day: 0.19 0.10 ------------------------------------------------------------------------------- Choice/Select spread: 17.61

Total Load Count (Cuts, Trimmings, Grids): 216 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 301.13 257.56 Primal Chuck 147.35 146.20 Primal Round 156.10 155.58 Primal Loin 310.14 252.06 Primal Brisket 139.82 139.95 Primal Short Plate 125.94 130.38 Primal Flank 107.49 100.18 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/26 60 61 18 42 181 197.74 180.22 06/25 95 65 29 14 203 196.43 180.03 06/22 69 64 13 25 171 196.63 180.09 06/21 88 75 29 33 225 197.21 179.96 06/20 98 96 12 43 249 198.00 180.22 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.20 180.10 -------------------------------------------------------------------------------- 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 81.08 loads 3,243,081 pounds Select Cuts 69.31 loads 2,772,449 pounds Trimmings 22.27 loads 890,825 pounds Ground Beef 43.61 load 1,744,309 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 28,735 610.00 661.00 640.15 112A 3 Rib, ribeye, bnls, light 28 29,665 667.00 749.00 725.23 112A 3 Rib, ribeye, bnls, heavy 131 125,925 667.00 752.00 723.58 113C 1 Chuck, semi-bnls, neck/off 11 30,038 187.70 200.00 191.14 114 1 Chuck, shoulder clod 23 36,213 181.20 200.50 188.32 114A 3 Chuck, shoulder clod, trmd 65 204,230 187.00 207.73 195.68 114D 3 Chuck, clod, top blade 15 53,460 279.66 304.65 286.86 114E 3 Chuck, clod, arm roast 9 68,802 214.55 250.11 216.90 114F 5 Chuck, clod tender (IM) 23 39,070 309.50 360.00 335.29 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 132 360,442 198.00 224.00 207.51 116B 1 Chuck, chuck tender (IM) 46 84,825 209.00 220.00 215.30

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 105 158,276 213.00 231.00 221.48 120A 3 Brisket, point/off, bnls 37 36,054 325.00 346.00 334.60 123A 3 Short Plate, short rib 49 56,144 225.00 335.00 294.45 130 4 Chuck, short rib 64 55,898 178.55 230.00 203.35 160 1 Round, bone-in 9 14,521 187.00 205.00 190.71 161 1 Round, boneless 7 10,223 197.00 212.65 200.86

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 94 121,414 200.00 217.00 210.70 168 1 Round, top inside round 89 149,098 194.00 209.00 201.66 168 3 Round, top inside round 31 131,822 201.11 221.00 208.38 169 5 Round, top inside, denuded 23 54,569 235.00 247.60 245.62

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 2,122 188.00 200.00 193.73 171B 3 Round, outside round 77 271,664 184.21 215.60 190.19 171C 3 Round, eye of round (IM) 75 99,126 198.24 221.60 207.97 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 34 23,987 670.26 701.00 685.17 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 22 12,286 695.00 716.00 699.67 180 3 Loin, strip, bnls, 0x1 101 76,940 769.00 826.00 805.66 184 1 Loin, top butt, bnls, heavy 46 25,045 340.50 362.00 356.78 184 3 Loin, top butt, boneless 63 112,017 339.46 380.00 357.14 185A 4 Loin, bottom sirloin, flap 81 83,725 460.00 489.24 473.83 185B 1 Loin, ball-tip, bnls, heavy 48 110,737 223.39 247.00 232.33 185C 1 Loin, sirloin, tri-tip (IM) 24 34,384 360.00 382.80 378.37 185D 4 Loin, tri-tip, pld (IM) 30 23,247 476.90 507.50 493.97 189A 4 Loin, tndrloin, trmd, heavy 88 96,090 939.00 1026.00 971.61 191A 4 Loin, butt tender, trimmed 6 9,071 940.00 975.00 948.01 193 4 Flank, flank steak (IM) 39 40,682 465.50 495.00 474.05 ------------------------------------------------------------------------------- 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 37 73,711 515.00 544.00 522.90 112A 3 Rib, ribeye, bnls, light 30 121,730 575.00 595.00 580.89 112A 3 Rib, ribeye, bnls, heavy 98 205,006 550.00 601.50 585.04 113C 1 Chuck, semi-bnls, neck/off 15 38,774 191.00 205.00 198.39 114 1 Chuck, shoulder clod 17 127,119 181.20 200.50 187.02 114A 3 Chuck, shoulder clod, trmd 27 108,615 190.00 209.50 195.71 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 10 31,349 310.00 330.50 313.55 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 41 152,772 198.12 225.30 205.59 116B 1 Chuck, chuck tender (IM) 36 78,312 207.00 218.00 212.48

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 77,444 211.53 228.00 221.46 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 9 45,812 216.50 341.34 228.55 130 4 Chuck, short rib 16 23,014 184.69 210.00 189.65 160 1 Round, bone-in 161 1 Round, boneless 11 15,258 197.00 206.00 201.52

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 46 126,764 200.00 215.00 209.99 168 1 Round, top inside round 24 36,864 190.50 206.00 201.31 168 3 Round, top inside round 17 53,912 201.00 215.00 206.90 169 5 Round, top inside, denuded 10 11,541 235.00 249.00 244.59

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 1,186 188.00 200.00 194.44 171B 3 Round, outside round 41 138,659 185.00 202.00 191.67 171C 3 Round, eye of round (IM) 27 53,396 198.24 216.25 208.47 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 33 33,432 528.12 560.00 549.54 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 44 93,873 500.28 555.50 527.36 184 1 Loin, top butt, bnls, heavy 30 49,063 256.00 286.25 264.92 184 3 Loin, top butt, boneless 38 73,631 271.00 302.00 278.02 185A 4 Loin, bottom sirloin, flap 14 88,982 438.00 489.65 445.80 185B 1 Loin, ball-tip, bnls, heavy 29 124,025 208.00 240.00 225.74 185C 1 Loin, sirloin, tri-tip (IM) 16 74,618 305.00 339.00 318.77 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 47 51,736 875.80 972.00 910.11 191A 4 Loin, butt tender, trimmed 7 4,505 910.00 930.00 928.32 193 4 Flank, flank steak (IM) 14 14,604 418.00 451.00 428.99 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 15 47,316 97.20 120.00 111.23 121D 4 Plate, Inside Skirt (IM) 35 123,868 350.00 380.20 358.78 121C 4 Plate, Outside Skirt (IM) 29 54,666 510.36 566.00 551.78 121E 6 Outside Skirt, pld (IM) 22 26,023 740.00 812.00 767.59

Cap, Wedge Meat & (IM) Lean 48 138,765 225.00 247.00 232.14

Pectoral Meat 81 379,618 212.82 257.00 223.07 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 79 373,268 137.80 164.91 142.75 Ground Beef 75% Ground Beef 81% 111 465,081 169.65 201.91 179.31 Ground Beef 85% Ground Beef 90% Ground Beef 93% 35 77,105 236.00 266.50 245.79 Ground Beef Chuck 80% 53 324,416 176.00 201.00 181.89 Ground Beef Round 85% 50 216,028 186.00 220.00 214.89 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 19,896 201.06 220.00 210.42 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% 0 0 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 27 826,975 49.00 58.50 53.75 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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