Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 193.80 175.06 Change from prior day: 0.23 (0.78) ------------------------------------------------------------------------------- Choice/Select spread: 18.73

Total Load Count (Cuts, Trimmings, Grids): 73 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 296.16 247.45 Primal Chuck 145.53 141.69 Primal Round 154.73 154.29 Primal Loin 299.48 242.68 Primal Brisket 134.98 135.55 Primal Short Plate 123.21 127.98 Primal Flank 106.48 96.81 -------------------------------------------------------------------------------- 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 29.12 loads 1,164,766 pounds Select Cuts 26.88 loads 1,075,306 pounds Trimmings 3.55 loads 141,865 pounds Ground Beef 13.88 load 555,100 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 11 11,330 600.00 665.00 616.67 112A 3 Rib, ribeye, bnls, light 3 2,135 689.00 700.00 695.75 112A 3 Rib, ribeye, bnls, heavy 22 23,968 686.00 742.00 707.31 113C 1 Chuck, semi-bnls, neck/off 5 24,893 183.00 205.00 184.23 114 1 Chuck, shoulder clod 3 15,420 180.00 186.00 181.70 114A 3 Chuck, shoulder clod, trmd 25 67,661 187.00 210.00 194.64 114D 3 Chuck, clod, top blade 5 11,187 294.24 300.00 299.89 114E 3 Chuck, clod, arm roast 6 29,783 213.40 229.00 214.37 114F 5 Chuck, clod tender (IM) 7 2,711 350.50 363.27 355.84 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 33 162,301 200.49 220.00 205.50 116B 1 Chuck, chuck tender (IM) 15 23,988 209.00 218.00 213.32

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 27 60,461 205.00 230.00 217.66 120A 3 Brisket, point/off, bnls 5 3,260 330.00 362.00 337.42 123A 3 Short Plate, short rib 4 11,776 330.00 356.00 336.67 130 4 Chuck, short rib 11 27,641 188.00 230.00 206.35 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 24 38,119 208.00 219.50 212.90 168 1 Round, top inside round 17 83,979 191.00 201.65 193.56 168 3 Round, top inside round 13 71,411 197.12 215.00 203.31 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 25 84,598 185.00 215.00 200.31 171C 3 Round, eye of round (IM) 20 41,646 198.34 230.00 210.29 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 6,716 661.00 710.00 671.63 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 5,279 661.00 686.00 683.55 180 3 Loin, strip, bnls, 0x1 11 9,263 741.00 780.00 759.68 184 1 Loin, top butt, bnls, heavy 8 7,398 334.50 350.00 343.90 184 3 Loin, top butt, boneless 12 17,924 343.00 375.60 351.53 185A 4 Loin, bottom sirloin, flap 18 34,862 467.00 485.70 474.39 185B 1 Loin, ball-tip, bnls, heavy 9 7,341 235.50 245.00 244.64 185C 1 Loin, sirloin, tri-tip (IM) 7 23,595 379.50 380.00 379.93 185D 4 Loin, tri-tip, pld (IM) 5 3,397 495.00 551.50 504.55 189A 4 Loin, tndrloin, trmd, heavy 17 47,146 911.00 970.00 930.53 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 12 7,532 470.00 491.50 479.62 ------------------------------------------------------------------------------- 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 9 54,964 490.00 520.78 491.10 112A 3 Rib, ribeye, bnls, light 5 5,289 555.00 557.28 555.66 112A 3 Rib, ribeye, bnls, heavy 24 57,829 529.66 593.23 548.43 113C 1 Chuck, semi-bnls, neck/off 4 3,609 186.49 193.00 191.52 114 1 Chuck, shoulder clod 5 18,242 176.00 184.84 178.65 114A 3 Chuck, shoulder clod, trmd 8 96,182 186.00 210.00 191.69 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 15,924 305.00 320.50 307.56 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 14 58,649 200.00 213.50 204.16 116B 1 Chuck, chuck tender (IM) 11 22,740 207.13 218.50 208.60

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 5 11,279 215.97 220.00 216.87 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 11,493 215.00 325.73 267.86 130 4 Chuck, short rib 4 2,757 190.00 194.65 191.46 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 9 9,034 203.21 218.00 209.99 168 1 Round, top inside round 9 37,610 191.00 200.00 193.54 168 3 Round, top inside round 9 65,653 201.00 211.00 203.98 169 5 Round, top inside, denuded 3 1,521 240.50 250.00 243.47

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 11 69,699 197.50 213.00 203.48 171C 3 Round, eye of round (IM) 10 32,455 206.38 223.00 211.83 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 115,913 475.00 530.00 485.58 175 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 10 10,775 495.00 534.98 506.75 184 1 Loin, top butt, bnls, heavy 10 59,885 240.00 271.00 245.02 184 3 Loin, top butt, boneless 12 21,328 255.00 280.50 264.88 185A 4 Loin, bottom sirloin, flap 7 15,055 448.50 460.00 453.12 185B 1 Loin, ball-tip, bnls, heavy 3 1,120 220.00 222.65 222.08 185C 1 Loin, sirloin, tri-tip (IM) 4 2,162 310.00 329.84 319.87 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 11 8,291 880.78 893.12 886.36 191A 4 Loin, butt tender, trimmed 5 4,177 830.00 891.50 835.65 193 4 Flank, flank steak (IM) 7 7,420 405.00 427.00 414.68 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 5,027 112.00 120.00 116.78 121D 4 Plate, Inside Skirt (IM) 10 35,807 355.00 380.00 357.85 121C 4 Plate, Outside Skirt (IM) 14 20,334 501.00 571.00 527.84 121E 6 Outside Skirt, pld (IM) 6 18,741 686.00 775.00 712.95

Cap, Wedge Meat & (IM) Lean 29 144,411 225.00 245.00 229.21

Pectoral Meat 10 17,657 227.38 243.50 230.79 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 21 248,406 130.00 157.50 133.10 Ground Beef 75% 0 0 Ground Beef 81% 17 64,363 171.62 186.47 179.12 Ground Beef 85% Ground Beef 90% Ground Beef 93% 8 47,251 230.00 260.00 232.62 Ground Beef Chuck 80% Ground Beef Round 85% 8 104,354 203.00 215.00 204.35 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% 0 0 Blended Ground Beef 81% 5 39,197 200.25 220.00 217.33 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 5 141,515 51.00 53.00 51.95 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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