Bloomberg News

USDA Boxed Beef Cutout Midday Prices for June 28

June 28, 2012

June 28 (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: 195.97 180.52 Change from prior day: (1.96) 0.20 ------------------------------------------------------------------------------- Choice/Select spread: 15.46

Total Load Count (Cuts, Trimmings, Grids): 104 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 293.21 257.94 Primal Chuck 144.73 145.63 Primal Round 155.69 155.07 Primal Loin 309.18 253.76 Primal Brisket 140.40 141.15 Primal Short Plate 125.85 130.34 Primal Flank 107.18 100.67 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/27 81 69 22 44 216 197.93 180.32 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.19 180.12 -------------------------------------------------------------------------------- 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 46.95 loads 1,877,960 pounds Select Cuts 34.17 loads 1,366,875 pounds Trimmings 12.44 loads 497,512 pounds Ground Beef 10.84 load 433,683 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 10 5,806 610.00 661.00 639.51 112A 3 Rib, ribeye, bnls, light 14 40,771 632.85 745.00 647.09 112A 3 Rib, ribeye, bnls, heavy 33 122,009 632.85 741.64 672.19 113C 1 Chuck, semi-bnls, neck/off 6 60,243 172.00 198.00 178.85 114 1 Chuck, shoulder clod 12 71,171 183.00 195.25 187.35 114A 3 Chuck, shoulder clod, trmd 20 203,407 187.00 210.00 192.05 114D 3 Chuck, clod, top blade 4 5,639 295.00 300.00 298.09 114E 3 Chuck, clod, arm roast 3 6,858 219.00 228.00 219.85 114F 5 Chuck, clod tender (IM) 5 1,661 350.00 384.61 358.43 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 34 324,115 200.00 219.02 203.44 116B 1 Chuck, chuck tender (IM) 16 59,155 207.00 220.00 211.74

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 35 61,757 215.00 231.00 223.01 120A 3 Brisket, point/off, bnls 17 13,683 324.00 342.00 337.74 123A 3 Short Plate, short rib 22 25,583 235.00 351.00 322.46 130 4 Chuck, short rib 13 27,136 184.20 223.50 201.83 160 1 Round, bone-in 6 4,634 186.75 206.50 189.97 161 1 Round, boneless 4 1,761 202.00 205.00 202.75

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 31 215,752 203.55 217.50 210.30 168 1 Round, top inside round 18 82,475 191.37 205.00 195.66 168 3 Round, top inside round 21 63,332 197.50 215.00 207.99 169 5 Round, top inside, denuded 13 12,308 239.50 254.61 243.48

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 8 2,840 188.00 201.25 193.32 171B 3 Round, outside round 18 57,282 187.00 204.75 193.26 171C 3 Round, eye of round (IM) 24 52,051 198.70 220.00 208.22 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 3,553 680.00 696.50 689.80 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 3 1,370 692.00 705.00 698.84 180 3 Loin, strip, bnls, 0x1 20 28,145 789.00 815.00 797.19 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 26 52,420 345.00 380.00 364.68 185A 4 Loin, bottom sirloin, flap 18 30,219 446.00 485.00 469.17 185B 1 Loin, ball-tip, bnls, heavy 15 14,711 224.00 246.50 239.45 185C 1 Loin, sirloin, tri-tip (IM) 7 13,108 371.25 400.00 374.81 185D 4 Loin, tri-tip, pld (IM) 9 9,716 488.45 524.00 496.03 189A 4 Loin, tndrloin, trmd, heavy 32 51,308 963.68 1006.75 978.25 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 9,467 459.00 481.50 473.46 ------------------------------------------------------------------------------- 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 18 24,407 512.83 536.00 525.58 112A 3 Rib, ribeye, bnls, light 5 6,345 580.00 600.50 585.95 112A 3 Rib, ribeye, bnls, heavy 22 20,368 578.00 604.75 589.02 113C 1 Chuck, semi-bnls, neck/off 8 15,696 187.70 205.00 193.21 114 1 Chuck, shoulder clod 11 30,423 183.00 194.00 187.39 114A 3 Chuck, shoulder clod, trmd 15 87,725 193.00 207.00 196.64 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 8 2,732 321.50 340.00 331.23 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 19 90,990 201.80 218.30 205.84 116B 1 Chuck, chuck tender (IM) 8 23,620 210.00 220.00 212.97

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 8 47,346 213.00 228.00 226.31 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 3,434 291.00 325.00 297.59 130 4 Chuck, short rib 4 18,675 187.00 193.00 192.24 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 26 83,959 200.00 218.25 206.84 168 1 Round, top inside round 11 53,131 193.00 209.00 199.32 168 3 Round, top inside round 7 62,430 198.00 215.00 199.54 169 5 Round, top inside, denuded 6 6,330 242.00 248.00 243.42

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 14,427 182.00 200.00 187.37 171B 3 Round, outside round 15 90,169 186.00 195.00 190.29 171C 3 Round, eye of round (IM) 17 37,699 201.00 215.00 209.85 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 19,525 515.00 560.00 525.97 175 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 12 38,414 518.25 565.00 532.91 184 1 Loin, top butt, bnls, heavy 11 31,449 250.00 291.25 260.60 184 3 Loin, top butt, boneless 14 35,711 263.00 296.25 268.18 185A 4 Loin, bottom sirloin, flap 4 4,521 446.00 469.25 460.85 185B 1 Loin, ball-tip, bnls, heavy 14 30,415 216.00 239.61 228.19 185C 1 Loin, sirloin, tri-tip (IM) 16 180,103 304.70 341.00 324.35 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 15,673 880.00 916.48 892.94 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 4,207 424.00 450.68 429.18 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 17 13,076 103.16 140.00 122.47 121D 4 Plate, Inside Skirt (IM) 16 51,180 354.37 380.00 363.43 121C 4 Plate, Outside Skirt (IM) 16 17,442 532.00 559.00 549.68 121E 6 Outside Skirt, pld (IM) 9 5,373 738.00 813.50 770.72

Cap, Wedge Meat & (IM) Lean 27 113,903 228.50 244.20 235.77

Pectoral Meat 31 104,642 218.82 255.00 228.18 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 15 145,584 136.04 153.00 142.86 Ground Beef 75% 0 0 Ground Beef 81% 22 60,883 168.65 190.50 179.62 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 12 36,192 242.00 275.50 245.51 Ground Beef Chuck 80% 14 139,499 170.90 189.00 182.01 Ground Beef Round 85% 5 14,192 205.41 216.00 209.04 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% 6 28,480 199.30 200.60 200.35 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 11 329,512 50.00 58.00 53.02 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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