Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 183.56 173.29 Change from prior day: (2.47) (0.13) ------------------------------------------------------------------------------- Choice/Select spread: 10.27

Total Load Count (Cuts, Trimmings, Grids): 84 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 270.20 242.09 Primal Chuck 138.80 140.01 Primal Round 157.11 157.97 Primal Loin 272.66 236.59 Primal Brisket 133.59 133.93 Primal Short Plate 122.55 127.40 Primal Flank 105.20 94.28 -------------------------------------------------------------------------------- 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 43.61 loads 1,744,388 pounds Select Cuts 28.72 loads 1,148,769 pounds Trimmings 3.66 loads 146,594 pounds Ground Beef 8.15 load 325,948 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 15 89,420 527.25 630.00 533.07 112A 3 Rib, ribeye, bnls, light 9 4,788 600.00 710.00 662.00 112A 3 Rib, ribeye, bnls, heavy 16 21,973 600.12 690.00 665.64 113C 1 Chuck, semi-bnls, neck/off 3 8,304 191.00 205.00 194.53 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 20 236,321 180.00 199.00 186.62 114D 3 Chuck, clod, top blade 7 20,358 253.45 300.00 277.48 114E 3 Chuck, clod, arm roast 5 9,893 200.00 210.00 207.23 114F 5 Chuck, clod tender (IM) 9 7,413 285.63 355.00 321.40 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 312,261 200.08 221.00 209.20 116B 1 Chuck, chuck tender (IM) 11 15,586 206.58 220.00 215.84

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 18 91,248 205.00 225.00 211.59 120A 3 Brisket, point/off, bnls 4 3,210 318.45 350.00 339.52 123A 3 Short Plate, short rib 10 13,720 240.00 346.50 322.10 130 4 Chuck, short rib 13 36,592 183.00 220.00 190.24 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 24 53,572 210.00 226.50 214.95 168 1 Round, top inside round 15 110,447 190.50 204.00 195.17 168 3 Round, top inside round 19 147,753 196.36 219.50 204.69 169 5 Round, top inside, denuded 9 22,614 231.00 243.00 234.65

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 1,563 201.00 216.00 208.56 171B 3 Round, outside round 17 50,144 204.00 222.00 209.38 171C 3 Round, eye of round (IM) 19 56,037 205.50 225.00 214.16 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 6 8,965 540.12 575.00 543.72 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 12 23,161 575.00 644.00 602.25 180 3 Loin, strip, bnls, 0x1 9 35,187 640.00 693.00 663.71 184 1 Loin, top butt, bnls, heavy 7 9,466 288.00 335.00 325.73 184 3 Loin, top butt, boneless 8 32,736 310.12 346.00 325.93 185A 4 Loin, bottom sirloin, flap 11 30,018 466.00 486.00 471.58 185B 1 Loin, ball-tip, bnls, heavy 10 22,227 221.00 245.00 231.39 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 25 27,414 875.63 1026.00 925.54 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 6 9,738 463.00 484.60 470.89 ------------------------------------------------------------------------------- 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 5 2,262 479.01 513.35 493.71 112A 3 Rib, ribeye, bnls, light 8 12,572 545.00 577.00 572.08 112A 3 Rib, ribeye, bnls, heavy 15 57,364 540.13 571.00 544.14 113C 1 Chuck, semi-bnls, neck/off 5 3,684 188.50 195.00 192.46 114 1 Chuck, shoulder clod 8 28,562 170.00 185.00 176.95 114A 3 Chuck, shoulder clod, trmd 18 204,677 180.00 205.00 185.63 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 312,348 203.13 218.00 209.61 116B 1 Chuck, chuck tender (IM) 6 5,873 205.00 220.00 214.59

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 8 26,718 208.00 231.00 215.03 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 3 20,181 183.00 206.00 185.88 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 9 13,937 210.00 230.00 219.06 168 1 Round, top inside round 9 45,993 197.00 203.71 198.28 168 3 Round, top inside round 13 53,418 196.36 213.50 204.69 169 5 Round, top inside, denuded 3 6,066 232.00 246.50 239.60

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 8 24,631 207.76 224.35 215.59 171C 3 Round, eye of round (IM) 11 20,622 209.50 219.50 213.50 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 6,601 493.00 520.00 501.93 175 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 7 5,414 480.00 517.00 495.15 184 1 Loin, top butt, bnls, heavy 10 27,016 223.45 253.00 237.90 184 3 Loin, top butt, boneless 13 32,893 233.45 265.00 250.70 185A 4 Loin, bottom sirloin, flap 6 6,245 442.35 455.30 449.94 185B 1 Loin, ball-tip, bnls, heavy 11 12,485 212.13 240.50 219.25 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 6 30,987 840.00 886.50 843.71 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 2,101 370.63 406.33 383.98 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 8,184 115.00 122.50 118.58 121D 4 Plate, Inside Skirt (IM) 9 12,186 361.00 380.00 371.44 121C 4 Plate, Outside Skirt (IM) 16 17,073 515.00 560.00 549.35 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 16 60,384 225.00 243.50 230.91

Pectoral Meat 13 83,466 217.73 245.00 223.07 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 10 77,356 128.00 153.50 132.99 Ground Beef 75% Ground Beef 81% 18 119,542 153.50 179.00 162.18 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 3 14,167 225.21 237.21 227.24 Ground Beef Chuck 80% 6 53,298 165.00 184.00 175.92 Ground Beef Round 85% 3 15,610 200.00 214.00 201.11 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% Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% 0 0 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 6 141,694 44.00 49.00 45.08 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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