Bloomberg News

USDA Boxed Beef Cutout Midday Prices for July 9

July 09, 2012

July 9 (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: 190.87 174.97 Change from prior day: (1.78) 0.26 ------------------------------------------------------------------------------- Choice/Select spread: 15.90

Total Load Count (Cuts, Trimmings, Grids): 98 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 293.47 249.57 Primal Chuck 141.76 141.96 Primal Round 153.89 155.09 Primal Loin 293.04 239.49 Primal Brisket 135.23 136.95 Primal Short Plate 123.77 128.75 Primal Flank 106.33 95.50 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/06 66 45 19 26 156 192.65 174.71 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.75 176.72 -------------------------------------------------------------------------------- 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 52.15 loads 2,086,145 pounds Select Cuts 35.14 loads 1,405,411 pounds Trimmings 0.11 loads 4,200 pounds Ground Beef 10.62 load 424,946 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 20 176,657 596.00 639.00 599.16 112A 3 Rib, ribeye, bnls, light 8 7,779 683.39 735.00 700.32 112A 3 Rib, ribeye, bnls, heavy 14 20,895 680.00 714.92 703.47 113C 1 Chuck, semi-bnls, neck/off 8 19,834 184.73 192.23 188.13 114 1 Chuck, shoulder clod 5 53,862 185.68 189.00 187.36 114A 3 Chuck, shoulder clod, trmd 11 40,132 186.55 198.00 192.98 114D 3 Chuck, clod, top blade 8 36,684 270.00 307.00 273.72 114E 3 Chuck, clod, arm roast 8 9,186 198.45 233.00 223.49 114F 5 Chuck, clod tender (IM) 5 10,725 315.00 360.00 321.46 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 224,124 199.00 209.50 204.64 116B 1 Chuck, chuck tender (IM) 11 22,872 210.00 216.50 213.69

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 71,993 205.00 225.00 208.85 120A 3 Brisket, point/off, bnls 8 12,033 309.48 339.00 333.70 123A 3 Short Plate, short rib 11 68,268 270.00 360.00 308.44 130 4 Chuck, short rib 13 24,598 182.00 230.00 195.61 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 37 128,019 198.00 218.00 211.90 168 1 Round, top inside round 9 34,607 191.00 206.50 194.98 168 3 Round, top inside round 14 283,799 198.21 212.00 203.63 169 5 Round, top inside, denuded 17 93,451 233.00 247.00 243.18

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 7,422 170.63 197.00 193.50 171B 3 Round, outside round 12 53,331 185.00 212.00 197.40 171C 3 Round, eye of round (IM) 27 84,710 206.00 223.00 209.84 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 29,190 638.49 680.00 645.04 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 4 4,018 671.00 685.00 677.07 180 3 Loin, strip, bnls, 0x1 26 75,117 709.62 781.00 720.71 184 1 Loin, top butt, bnls, heavy 3 6,709 330.00 345.00 342.21 184 3 Loin, top butt, boneless 13 50,327 326.93 362.00 342.91 185A 4 Loin, bottom sirloin, flap 15 38,931 464.00 489.50 473.87 185B 1 Loin, ball-tip, bnls, heavy 9 78,926 218.00 235.39 220.56 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 5 3,969 494.90 510.80 502.13 189A 4 Loin, tndrloin, trmd, heavy 22 129,599 900.00 960.43 910.69 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 17,157 470.00 485.00 481.63 ------------------------------------------------------------------------------- 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 7 43,171 490.00 520.80 498.01 112A 3 Rib, ribeye, bnls, light 8 7,956 555.00 582.00 570.95 112A 3 Rib, ribeye, bnls, heavy 14 19,676 555.00 581.00 570.94 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 21 559,501 175.00 190.00 175.71 114A 3 Chuck, shoulder clod, trmd 14 144,673 184.00 210.43 189.85 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 8 10,294 315.00 331.50 321.94 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 15 91,563 200.49 211.73 204.83 116B 1 Chuck, chuck tender (IM) 3 8,356 208.00 215.90 212.12

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 9 48,788 182.00 210.00 184.92 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 6 21,661 203.55 223.23 209.60 168 1 Round, top inside round 7 45,574 191.00 214.00 192.24 168 3 Round, top inside round 5 11,423 202.00 213.43 204.44 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 6 22,803 195.10 215.00 204.14 171C 3 Round, eye of round (IM) 7 26,191 208.50 215.00 210.19 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 4 5,441 490.00 520.00 501.31 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 14 11,723 480.00 514.00 498.91 184 1 Loin, top butt, bnls, heavy 4 5,402 245.00 255.00 254.31 184 3 Loin, top butt, boneless 9 9,305 256.00 286.25 279.74 185A 4 Loin, bottom sirloin, flap 5 4,527 445.88 475.00 462.13 185B 1 Loin, ball-tip, bnls, heavy 10 28,982 215.00 231.00 216.26 185C 1 Loin, sirloin, tri-tip (IM) 4 1,820 315.00 335.43 330.01 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 11 23,190 855.00 895.43 877.49 191A 4 Loin, butt tender, trimmed 3 6,096 834.00 852.00 835.03 193 4 Flank, flank steak (IM) 3 3,671 400.60 419.00 405.36 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 16,202 108.39 139.62 126.40 121D 4 Plate, Inside Skirt (IM) 19 65,307 355.55 380.00 364.90 121C 4 Plate, Outside Skirt (IM) 9 15,663 512.78 560.00 552.75 121E 6 Outside Skirt, pld (IM) 8 32,039 685.00 746.50 701.74

Cap, Wedge Meat & (IM) Lean 30 177,628 218.63 249.20 229.81

Pectoral Meat 12 17,692 223.00 255.00 228.26 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 10 93,259 130.00 148.50 138.24 Ground Beef 75% Ground Beef 81% 24 123,456 167.00 187.39 169.84 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 9 30,743 229.62 262.50 231.07 Ground Beef Chuck 80% 15 76,691 171.28 185.80 176.90 Ground Beef Round 85% 9 26,599 200.00 210.00 200.44 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% 0 0 Blended Ground Beef 81% Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 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 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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