Bloomberg News

USDA Boxed Beef Cutout Midday Prices for July 31

July 31, 2012

July 31 (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: 178.23 171.11 Change from prior day: 0.61 0.33 ------------------------------------------------------------------------------- Choice/Select spread: 7.12

Total Load Count (Cuts, Trimmings, Grids): 111 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 263.86 234.82 Primal Chuck 141.73 142.95 Primal Round 159.22 157.74 Primal Loin 245.98 228.71 Primal Brisket 129.60 125.91 Primal Short Plate 120.34 125.63 Primal Flank 106.60 94.89 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/30 70 41 12 28 150 177.62 170.78 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 177.83 170.99 -------------------------------------------------------------------------------- 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 38.53 loads 1,541,314 pounds Select Cuts 46.61 loads 1,864,578 pounds Trimmings 6.50 loads 259,840 pounds Ground Beef 19.77 load 790,768 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 13,175 527.18 570.00 549.07 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 31 46,816 570.00 631.01 577.65 113C 1 Chuck, semi-bnls, neck/off 5 26,042 189.50 200.65 192.42 114 1 Chuck, shoulder clod 15 68,825 180.00 197.30 184.71 114A 3 Chuck, shoulder clod, trmd 19 66,231 189.00 206.99 198.50 114D 3 Chuck, clod, top blade 7 6,252 280.00 304.65 283.78 114E 3 Chuck, clod, arm roast 4 8,571 214.00 239.85 228.71 114F 5 Chuck, clod tender (IM) 6 11,209 321.57 365.22 330.69 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 38 406,936 209.00 226.75 216.79 116B 1 Chuck, chuck tender (IM) 14 17,578 202.00 219.65 212.12

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 36,265 199.73 223.00 205.81 120A 3 Brisket, point/off, bnls 9 2,249 347.00 384.00 352.32 123A 3 Short Plate, short rib 25 19,458 265.00 365.00 336.79 130 4 Chuck, short rib 11 24,661 189.75 215.00 198.14 160 1 Round, bone-in 161 1 Round, boneless 4 7,378 204.99 211.65 206.29

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 26 54,783 210.00 231.01 217.96 168 1 Round, top inside round 18 99,593 189.37 206.50 196.68 168 3 Round, top inside round 11 61,128 203.00 220.00 211.53 169 5 Round, top inside, denuded 6 4,067 234.00 250.00 241.20

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 28 114,415 205.75 222.68 215.34 171C 3 Round, eye of round (IM) 15 31,367 213.00 226.00 220.10 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 16,961 495.57 524.66 508.77 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 29 45,990 487.00 550.00 523.59 184 1 Loin, top butt, bnls, heavy 9 8,141 299.77 314.36 300.83 184 3 Loin, top butt, boneless 5 3,878 312.79 333.75 320.68 185A 4 Loin, bottom sirloin, flap 10 33,282 439.00 471.00 446.96 185B 1 Loin, ball-tip, bnls, heavy 9 14,070 217.00 230.00 225.65 185C 1 Loin, sirloin, tri-tip (IM) 3 19,489 328.63 340.00 332.34 185D 4 Loin, tri-tip, pld (IM) 7 7,051 477.19 497.00 481.68 189A 4 Loin, tndrloin, trmd, heavy 15 10,542 868.00 935.00 889.56 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 10 4,126 483.00 491.00 486.21 ------------------------------------------------------------------------------- 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 12 5,843 449.65 480.00 461.88 112A 3 Rib, ribeye, bnls, light 9 17,186 497.86 537.19 517.51 112A 3 Rib, ribeye, bnls, heavy 20 34,515 499.33 542.00 511.71 113C 1 Chuck, semi-bnls, neck/off 7 12,189 189.50 202.25 193.43 114 1 Chuck, shoulder clod 3 6,000 185.54 197.65 186.25 114A 3 Chuck, shoulder clod, trmd 9 28,943 195.00 210.34 201.72 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 165,647 205.00 225.25 216.23 116B 1 Chuck, chuck tender (IM) 10 12,095 205.00 214.00 209.16

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 11 77,424 197.00 207.36 197.42 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 3,117 277.25 320.00 279.23 130 4 Chuck, short rib 5 11,499 178.00 210.00 192.26 160 1 Round, bone-in 161 1 Round, boneless 5 3,942 207.00 214.65 208.69

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 13 25,314 212.00 224.00 219.66 168 1 Round, top inside round 8 128,801 195.00 204.00 197.06 168 3 Round, top inside round 6 11,588 204.01 220.65 208.84 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 13 186,746 205.75 219.00 207.22 171C 3 Round, eye of round (IM) 11 66,246 205.00 225.00 207.76 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 18 16,075 455.00 502.65 471.16 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 20 13,633 464.36 500.57 483.00 184 1 Loin, top butt, bnls, heavy 6 81,307 245.00 254.00 247.05 184 3 Loin, top butt, boneless 32 619,140 247.00 279.00 253.22 185A 4 Loin, bottom sirloin, flap 14 34,421 420.00 445.00 425.49 185B 1 Loin, ball-tip, bnls, heavy 8 29,455 218.00 226.25 218.37 185C 1 Loin, sirloin, tri-tip (IM) 5 7,657 294.50 314.00 306.94 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 10 9,134 830.00 872.25 846.05 191A 4 Loin, butt tender, trimmed 6 4,030 789.63 836.00 806.01 193 4 Flank, flank steak (IM) 25 45,642 394.87 432.65 404.86 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 3 3,190 115.40 120.00 119.48 121D 4 Plate, Inside Skirt (IM) 23 103,825 338.16 375.30 344.18 121C 4 Plate, Outside Skirt (IM) 9 33,081 490.00 549.82 512.35 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 26 98,384 230.00 243.50 234.46

Pectoral Meat 25 125,306 217.82 249.99 221.79 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 149,101 127.00 147.00 136.46 Ground Beef 75% Ground Beef 81% 15 115,555 157.00 177.72 169.86 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 18 111,473 210.00 255.25 227.06 Ground Beef Chuck 80% 13 220,009 161.00 177.50 170.84 Ground Beef Round 85% 7 12,531 201.00 210.00 207.38 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% 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% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 15 258,340 44.98 48.50 46.78 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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