Bloomberg News

USDA Boxed Beef Cutout Midday Prices for July 30

July 30, 2012

July 30 (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: 177.52 170.62 Change from prior day: 0.58 0.59 ------------------------------------------------------------------------------- Choice/Select spread: 6.90

Total Load Count (Cuts, Trimmings, Grids): 95 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 262.93 233.34 Primal Chuck 140.82 142.45 Primal Round 158.10 157.14 Primal Loin 246.16 228.68 Primal Brisket 127.08 123.79 Primal Short Plate 120.78 126.20 Primal Flank 105.88 95.90 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/27 64 67 23 29 183 176.94 170.03 07/26 74 62 25 33 194 178.25 171.33 07/25 109 62 39 59 268 178.09 171.46 07/24 106 64 20 24 213 178.24 171.35 07/23 130 91 37 31 290 178.77 170.69 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 178.06 170.97 -------------------------------------------------------------------------------- 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 45.95 loads 1,838,107 pounds Select Cuts 18.78 loads 751,158 pounds Trimmings 9.41 loads 376,480 pounds Ground Beef 21.15 load 846,057 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 16 133,011 519.00 571.00 531.84 112A 3 Rib, ribeye, bnls, light 7 44,093 587.58 631.00 598.68 112A 3 Rib, ribeye, bnls, heavy 16 76,608 587.58 635.50 597.44 113C 1 Chuck, semi-bnls, neck/off 3 44,860 172.00 196.00 174.10 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 7 63,310 190.00 200.89 194.28 114D 3 Chuck, clod, top blade 3 2,212 285.00 294.71 287.22 114E 3 Chuck, clod, arm roast 4 44,883 210.00 239.85 212.18 114F 5 Chuck, clod tender (IM) 6 4,601 330.00 356.00 352.48 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 22 230,576 205.00 225.00 212.33 116B 1 Chuck, chuck tender (IM) 9 21,232 202.89 217.50 209.52

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 15 35,640 200.00 220.00 209.80 120A 3 Brisket, point/off, bnls 9 10,908 308.53 365.00 318.69 123A 3 Short Plate, short rib 10 33,600 265.00 350.00 338.95 130 4 Chuck, short rib 8 32,135 183.13 227.57 193.95 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 21 125,256 213.00 228.89 216.25 168 1 Round, top inside round 17 145,176 194.32 206.50 198.70 168 3 Round, top inside round 13 142,057 199.50 215.00 207.18 169 5 Round, top inside, denuded 14 89,998 230.00 240.00 233.47

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 15 25,922 209.00 222.00 215.28 171C 3 Round, eye of round (IM) 17 32,917 211.60 229.50 215.33 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 10 36,385 507.00 527.00 515.48 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 4 2,578 480.00 480.00 480.00 180 3 Loin, strip, bnls, 0x1 22 103,292 490.00 540.00 505.86 184 1 Loin, top butt, bnls, heavy 5 5,733 305.00 316.27 306.98 184 3 Loin, top butt, boneless 16 71,769 294.00 335.00 300.39 185A 4 Loin, bottom sirloin, flap 12 68,556 438.53 465.00 445.79 185B 1 Loin, ball-tip, bnls, heavy 7 31,236 212.30 225.00 214.20 185C 1 Loin, sirloin, tri-tip (IM) 4 5,418 340.00 350.00 342.91 185D 4 Loin, tri-tip, pld (IM) 4 25,894 479.00 485.00 480.76 189A 4 Loin, tndrloin, trmd, heavy 27 65,281 853.27 900.00 864.86 191A 4 Loin, butt tender, trimmed 7 2,140 874.19 880.00 875.08 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- 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 112A 3 Rib, ribeye, bnls, light 5 7,193 509.00 530.00 516.38 112A 3 Rib, ribeye, bnls, heavy 9 18,177 505.50 545.00 529.10 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 5 24,236 178.00 186.50 183.48 114A 3 Chuck, shoulder clod, trmd 4 8,190 187.32 200.00 195.87 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 5,935 313.87 331.00 318.74 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 15 62,208 209.00 226.00 217.58 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 4 13,254 193.89 210.50 198.09 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 19,943 242.29 340.00 266.72 130 4 Chuck, short rib 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 6 39,075 213.00 224.50 214.41 168 1 Round, top inside round 19 102,535 195.73 213.28 198.57 168 3 Round, top inside round 0 0 169 5 Round, top inside, denuded 4 5,098 234.70 248.00 237.36

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 6 15,273 209.00 229.50 216.85 171C 3 Round, eye of round (IM) 6 18,368 207.31 229.50 209.48 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 51,819 467.00 500.89 470.16 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 7 12,683 428.45 475.00 465.19 184 1 Loin, top butt, bnls, heavy 5 13,361 240.00 249.00 242.22 184 3 Loin, top butt, boneless 6 20,700 248.00 265.00 253.15 185A 4 Loin, bottom sirloin, flap 7 60,333 430.00 443.27 431.51 185B 1 Loin, ball-tip, bnls, heavy 4 13,816 215.00 220.00 217.94 185C 1 Loin, sirloin, tri-tip (IM) 3 5,447 294.00 319.89 300.72 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 10 18,914 842.00 862.03 854.05 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 8 56,421 355.00 380.00 358.66 121C 4 Plate, Outside Skirt (IM) 16 47,936 490.00 577.00 539.02 121E 6 Outside Skirt, pld (IM) 4 4,800 721.00 742.20 726.42

Cap, Wedge Meat & (IM) Lean 16 51,380 209.30 247.50 235.89

Pectoral Meat 10 14,140 219.45 250.00 231.73 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 16 272,854 125.00 137.00 131.49 Ground Beef 75% 0 0 Ground Beef 81% 25 108,509 157.00 188.00 163.52 Ground Beef 85% Ground Beef 90% Ground Beef 93% 11 53,846 214.55 251.62 229.97 Ground Beef Chuck 80% 17 300,819 157.00 175.00 170.00 Ground Beef Round 85% Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% Blended Ground Beef 81% 9 68,441 187.45 195.92 191.29 Blended Ground Beef 85% Blended Ground Beef 90% 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 10 268,520 43.50 47.00 44.81 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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