Bloomberg News

USDA Boxed Beef Cutout Closing Prices for July 13

July 13, 2012

July 13 (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: 183.94 172.57 Change from prior day: (2.09) (0.85) ------------------------------------------------------------------------------- Choice/Select spread: 11.37

Total Load Count (Cuts, Trimmings, Grids): 174 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.85 239.79 Primal Chuck 139.71 139.92 Primal Round 157.82 157.65 Primal Loin 272.18 234.95 Primal Brisket 130.79 133.91 Primal Short Plate 122.57 127.39 Primal Flank 105.33 93.89 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/12 126 53 31 38 248 186.03 173.42 07/11 95 74 22 40 232 187.81 173.66 07/10 95 74 27 36 233 188.35 174.34 07/09 121 53 10 19 203 190.51 175.07 07/06 66 45 19 26 156 192.65 174.71 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 189.07 174.24 -------------------------------------------------------------------------------- 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 88.07 loads 3,522,951 pounds Select Cuts 62.53 loads 2,501,115 pounds Trimmings 6.14 loads 245,444 pounds Ground Beef 17.66 load 706,507 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 27 144,454 527.25 630.00 543.70 112A 3 Rib, ribeye, bnls, light 12 5,634 600.00 710.00 668.88 112A 3 Rib, ribeye, bnls, heavy 26 39,000 600.12 701.00 658.91 113C 1 Chuck, semi-bnls, neck/off 6 28,161 191.00 205.00 195.69 114 1 Chuck, shoulder clod 7 14,625 171.00 195.00 177.67 114A 3 Chuck, shoulder clod, trmd 37 514,668 178.00 200.00 188.21 114D 3 Chuck, clod, top blade 11 42,151 253.45 300.00 276.62 114E 3 Chuck, clod, arm roast 13 24,225 200.00 230.82 211.16 114F 5 Chuck, clod tender (IM) 19 17,277 285.63 360.00 316.09 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 71 498,266 197.25 224.99 209.37 116B 1 Chuck, chuck tender (IM) 33 64,847 206.58 220.00 214.09

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 36 359,602 200.00 225.00 204.05 120A 3 Brisket, point/off, bnls 7 11,086 318.45 350.00 336.08 123A 3 Short Plate, short rib 15 23,015 240.00 346.50 317.66 130 4 Chuck, short rib 30 99,182 183.00 230.82 189.73 160 1 Round, bone-in 3 5,431 191.00 204.20 194.88 161 1 Round, boneless 7 15,499 201.00 214.50 203.81

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 49 182,805 198.45 227.00 215.64 168 1 Round, top inside round 21 163,007 190.50 211.99 194.29 168 3 Round, top inside round 31 190,969 191.30 222.50 204.55 169 5 Round, top inside, denuded 17 71,064 231.00 243.00 238.71

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 7,678 201.00 216.00 210.50 171B 3 Round, outside round 37 101,225 204.00 230.60 218.24 171C 3 Round, eye of round (IM) 35 92,600 205.50 225.00 215.01 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 16 91,710 515.45 575.00 540.82 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 13 24,892 575.00 644.00 601.47 180 3 Loin, strip, bnls, 0x1 18 74,477 585.00 695.00 634.73 184 1 Loin, top butt, bnls, heavy 7 9,466 288.00 335.00 325.73 184 3 Loin, top butt, boneless 23 84,294 310.00 349.50 329.26 185A 4 Loin, bottom sirloin, flap 14 32,883 440.00 486.00 469.88 185B 1 Loin, ball-tip, bnls, heavy 17 42,578 221.00 245.00 235.40 185C 1 Loin, sirloin, tri-tip (IM) 5 10,840 355.52 381.00 362.52 185D 4 Loin, tri-tip, pld (IM) 3 2,013 486.34 509.60 495.71 189A 4 Loin, tndrloin, trmd, heavy 33 37,639 875.63 1026.00 921.37 191A 4 Loin, butt tender, trimmed 5 7,710 898.50 920.60 920.41 193 4 Flank, flank steak (IM) 11 18,172 463.00 484.60 475.05 ------------------------------------------------------------------------------- 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 7 4,238 473.00 513.35 491.36 112A 3 Rib, ribeye, bnls, light 11 31,952 510.00 577.00 540.58 112A 3 Rib, ribeye, bnls, heavy 35 179,661 510.00 571.50 527.95 113C 1 Chuck, semi-bnls, neck/off 6 4,685 187.00 195.00 191.30 114 1 Chuck, shoulder clod 10 46,943 170.00 185.00 175.56 114A 3 Chuck, shoulder clod, trmd 31 462,847 178.00 207.00 187.15 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 27,504 294.91 330.00 299.88 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 37 442,285 203.13 222.00 210.04 116B 1 Chuck, chuck tender (IM) 12 55,702 205.00 220.00 212.33

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 15 61,304 208.00 231.00 213.66 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 4,324 250.00 315.00 283.07 130 4 Chuck, short rib 8 40,122 183.00 226.00 187.63 160 1 Round, bone-in 161 1 Round, boneless 4 16,302 201.00 214.00 203.31

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 20 61,092 199.21 230.00 211.18 168 1 Round, top inside round 14 71,496 192.00 203.71 197.69 168 3 Round, top inside round 15 64,117 196.36 213.50 203.65 169 5 Round, top inside, denuded 4 6,282 232.00 253.00 240.06

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 16 62,747 207.76 224.35 214.33 171C 3 Round, eye of round (IM) 17 30,865 209.50 225.00 215.35 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 15 22,297 481.75 520.00 488.86 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 20 59,046 438.00 517.96 473.76 184 1 Loin, top butt, bnls, heavy 12 33,373 223.45 253.00 238.38 184 3 Loin, top butt, boneless 30 145,510 233.45 268.00 250.09 185A 4 Loin, bottom sirloin, flap 7 8,891 442.00 455.30 447.58 185B 1 Loin, ball-tip, bnls, heavy 18 154,090 210.00 240.50 210.82 185C 1 Loin, sirloin, tri-tip (IM) 6 2,176 300.00 330.35 305.26 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 7 31,363 840.00 886.50 843.73 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 9 11,713 370.63 425.00 394.54 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 20,518 112.00 122.50 115.25 121D 4 Plate, Inside Skirt (IM) 20 31,677 357.00 380.00 366.33 121C 4 Plate, Outside Skirt (IM) 22 28,673 515.00 560.00 544.83 121E 6 Outside Skirt, pld (IM) 3 5,063 695.60 700.00 696.26

Cap, Wedge Meat & (IM) Lean 38 175,695 215.00 243.50 231.31

Pectoral Meat 30 195,918 213.00 257.00 221.42 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 167,048 128.00 154.00 131.41 Ground Beef 75% Ground Beef 81% 25 166,893 153.50 184.00 162.49 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 8 46,269 202.47 249.00 216.02 Ground Beef Chuck 80% 8 110,497 165.00 184.00 174.18 Ground Beef Round 85% 5 49,875 200.00 214.00 205.47 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% 5 70,733 190.75 217.00 199.78 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 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 12 240,544 44.00 50.50 46.68 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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