Bloomberg News

USDA Boxed Beef Cutout Closing Prices for July 6

July 06, 2012

July 6 (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: 192.65 174.71 Change from prior day: (0.92) (1.13) ------------------------------------------------------------------------------- Choice/Select spread: 17.94

Total Load Count (Cuts, Trimmings, Grids): 156 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 295.29 247.28 Primal Chuck 143.74 141.70 Primal Round 154.50 154.56 Primal Loin 297.33 240.89 Primal Brisket 135.10 135.82 Primal Short Plate 123.16 128.02 Primal Flank 106.14 95.82 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/05 100 65 26 36 226 193.57 175.84 07/03 106 90 28 54 277 193.22 177.36 07/02 82 62 11 30 186 194.63 177.61 06/29 76 60 6 26 168 194.66 178.09 06/28 75 54 16 18 163 196.12 180.33 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 194.44 177.85 -------------------------------------------------------------------------------- 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 65.57 loads 2,622,650 pounds Select Cuts 45.27 loads 1,810,703 pounds Trimmings 18.96 loads 758,573 pounds Ground Beef 26.29 load 1,051,685 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 17 34,491 589.00 665.00 600.43 112A 3 Rib, ribeye, bnls, light 6 8,347 660.00 716.00 676.73 112A 3 Rib, ribeye, bnls, heavy 30 31,706 685.30 742.00 708.42 113C 1 Chuck, semi-bnls, neck/off 7 26,526 183.00 205.00 184.43 114 1 Chuck, shoulder clod 13 38,832 178.84 193.50 181.94 114A 3 Chuck, shoulder clod, trmd 46 388,011 179.75 210.00 183.80 114D 3 Chuck, clod, top blade 7 11,575 294.24 300.00 299.78 114E 3 Chuck, clod, arm roast 12 91,463 213.40 229.00 215.88 114F 5 Chuck, clod tender (IM) 9 4,243 348.00 357.80 353.05 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 61 353,786 199.00 227.89 204.66 116B 1 Chuck, chuck tender (IM) 32 63,679 207.69 225.00 214.87

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 46 123,828 205.00 230.00 217.31 120A 3 Brisket, point/off, bnls 11 8,477 310.00 362.00 336.58 123A 3 Short Plate, short rib 7 18,608 260.00 356.00 337.76 130 4 Chuck, short rib 22 49,786 182.00 230.00 200.93 160 1 Round, bone-in 161 1 Round, boneless 3 1,543 201.00 210.50 201.95

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 42 79,070 207.00 222.50 212.48 168 1 Round, top inside round 27 198,968 189.37 203.71 194.04 168 3 Round, top inside round 25 129,641 197.12 220.00 205.83 169 5 Round, top inside, denuded 8 35,642 233.00 251.00 235.96

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 27,446 187.00 201.00 187.69 171B 3 Round, outside round 38 137,351 185.00 216.00 195.68 171C 3 Round, eye of round (IM) 46 97,853 198.34 230.00 209.67 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 8,748 656.00 710.00 668.65 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 7 5,590 685.00 726.50 690.57 180 3 Loin, strip, bnls, 0x1 21 25,426 680.00 781.00 726.16 184 1 Loin, top butt, bnls, heavy 11 7,999 334.50 351.00 344.31 184 3 Loin, top butt, boneless 22 109,133 341.00 370.00 349.43 185A 4 Loin, bottom sirloin, flap 30 61,582 464.50 491.00 476.10 185B 1 Loin, ball-tip, bnls, heavy 15 12,277 223.00 245.00 238.40 185C 1 Loin, sirloin, tri-tip (IM) 11 36,117 372.00 391.50 377.53 185D 4 Loin, tri-tip, pld (IM) 7 3,984 495.00 551.50 503.83 189A 4 Loin, tndrloin, trmd, heavy 20 66,368 910.00 970.00 925.49 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 20 20,216 470.00 493.10 477.88 ------------------------------------------------------------------------------- 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 13 65,192 472.53 520.78 489.68 112A 3 Rib, ribeye, bnls, light 8 9,375 554.00 577.80 558.55 112A 3 Rib, ribeye, bnls, heavy 43 107,184 527.53 593.23 550.97 113C 1 Chuck, semi-bnls, neck/off 6 27,257 184.00 194.50 185.77 114 1 Chuck, shoulder clod 9 25,042 176.00 193.50 179.89 114A 3 Chuck, shoulder clod, trmd 13 108,140 186.00 210.00 191.46 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 9 17,148 305.00 325.50 308.76 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 250,509 200.00 218.60 203.81 116B 1 Chuck, chuck tender (IM) 14 35,639 204.90 218.50 208.17

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 11 57,456 206.33 226.00 216.94 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 7 15,398 215.00 355.00 289.96 130 4 Chuck, short rib 8 14,715 187.00 220.00 191.39 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 14 28,619 203.21 225.00 208.37 168 1 Round, top inside round 19 97,011 191.00 207.83 197.66 168 3 Round, top inside round 13 72,897 200.60 211.00 204.07 169 5 Round, top inside, denuded 4 2,698 240.50 250.00 244.14

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 20 86,285 193.44 213.00 202.91 171C 3 Round, eye of round (IM) 14 39,754 199.63 223.00 210.29 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 117,607 480.28 540.00 486.29 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 18 20,074 483.00 535.00 499.20 184 1 Loin, top butt, bnls, heavy 12 66,812 238.45 271.00 244.57 184 3 Loin, top butt, boneless 17 23,621 255.00 284.50 265.53 185A 4 Loin, bottom sirloin, flap 9 40,162 438.59 460.00 446.24 185B 1 Loin, ball-tip, bnls, heavy 6 2,929 209.00 230.00 219.78 185C 1 Loin, sirloin, tri-tip (IM) 9 8,929 300.00 329.84 315.75 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 19 40,142 854.00 893.12 864.59 191A 4 Loin, butt tender, trimmed 8 6,205 830.00 891.50 841.04 193 4 Flank, flank steak (IM) 13 42,193 394.30 436.00 404.94 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 13 8,444 112.00 121.00 117.38 121D 4 Plate, Inside Skirt (IM) 22 54,437 355.00 380.00 361.49 121C 4 Plate, Outside Skirt (IM) 25 47,263 501.00 571.00 536.61 121E 6 Outside Skirt, pld (IM) 9 24,497 686.00 775.00 720.40

Cap, Wedge Meat & (IM) Lean 42 224,499 225.00 245.00 231.03

Pectoral Meat 18 47,786 221.50 243.50 226.93 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 40 437,076 130.00 160.00 133.24 Ground Beef 75% 0 0 Ground Beef 81% 34 105,850 168.00 187.50 178.07 Ground Beef 85% Ground Beef 90% Ground Beef 93% 12 55,944 230.00 272.50 233.66 Ground Beef Chuck 80% 10 119,327 170.05 200.29 182.29 Ground Beef Round 85% 11 152,674 203.00 215.00 205.11 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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% 11 85,978 195.00 220.00 210.52 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 25 756,823 45.00 53.00 48.47 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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