Bloomberg News

USDA Boxed Beef Cutout Closing Prices for August 1

August 01, 2012

August 1 (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: 177.69 170.83 Change from prior day: (0.13) (0.26) ------------------------------------------------------------------------------- Choice/Select spread: 6.87

Total Load Count (Cuts, Trimmings, Grids): 255 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 260.91 231.30 Primal Chuck 142.63 143.97 Primal Round 159.79 158.13 Primal Loin 244.36 228.15 Primal Brisket 127.96 126.11 Primal Short Plate 118.19 123.26 Primal Flank 106.17 94.89 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/31 81 71 15 35 202 177.82 171.09 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 177.74 170.94 -------------------------------------------------------------------------------- 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 100.17 loads 4,006,829 pounds Select Cuts 71.33 loads 2,853,211 pounds Trimmings 22.28 loads 891,058 pounds Ground Beef 61.25 load 2,450,175 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 47 106,652 515.00 567.00 534.88 112A 3 Rib, ribeye, bnls, light 28 44,351 587.00 636.00 598.21 112A 3 Rib, ribeye, bnls, heavy 126 305,405 576.00 630.00 598.04 113C 1 Chuck, semi-bnls, neck/off 7 35,779 185.00 195.00 190.43 114 1 Chuck, shoulder clod 20 74,263 180.50 191.50 183.48 114A 3 Chuck, shoulder clod, trmd 59 107,429 188.00 204.89 196.71 114D 3 Chuck, clod, top blade 11 93,385 265.00 299.00 267.61 114E 3 Chuck, clod, arm roast 12 113,602 206.00 229.00 208.35 114F 5 Chuck, clod tender (IM) 13 27,138 310.63 392.00 326.06 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 127 259,603 211.00 227.00 215.53 116B 1 Chuck, chuck tender (IM) 41 80,307 207.00 220.00 212.20

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 88 242,150 192.07 224.00 202.25 120A 3 Brisket, point/off, bnls 19 13,827 336.92 365.00 358.57 123A 3 Short Plate, short rib 41 76,468 256.00 366.00 296.68 130 4 Chuck, short rib 44 66,247 176.75 220.10 185.27 160 1 Round, bone-in 4 4,080 190.00 194.00 192.68 161 1 Round, boneless 5 9,197 201.00 212.00 209.04

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 100 160,631 213.69 230.10 219.25 168 1 Round, top inside round 93 170,881 195.00 207.28 199.69 168 3 Round, top inside round 17 78,327 203.99 219.99 211.09 169 5 Round, top inside, denuded 23 26,877 239.00 250.00 240.30

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 9,393 195.50 219.00 199.78 171B 3 Round, outside round 69 180,359 201.00 228.89 209.52 171C 3 Round, eye of round (IM) 75 121,486 210.00 228.89 216.93 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 33 70,476 480.00 531.00 486.88 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 21 53,704 426.00 467.00 441.71 180 3 Loin, strip, bnls, 0x1 144 416,243 478.69 547.50 493.50 184 1 Loin, top butt, bnls, heavy 29 27,833 288.00 315.00 299.24 184 3 Loin, top butt, boneless 61 115,166 290.00 335.00 304.62 185A 4 Loin, bottom sirloin, flap 61 97,610 419.00 463.00 440.77 185B 1 Loin, ball-tip, bnls, heavy 33 72,078 214.50 230.00 220.06 185C 1 Loin, sirloin, tri-tip (IM) 23 32,586 314.00 356.00 329.10 185D 4 Loin, tri-tip, pld (IM) 25 43,801 460.00 496.28 471.82 189A 4 Loin, tndrloin, trmd, heavy 79 92,982 850.00 976.00 882.44 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 21 20,249 467.62 496.93 482.57 ------------------------------------------------------------------------------- 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 19 11,104 455.00 470.00 461.79 112A 3 Rib, ribeye, bnls, light 40 231,905 481.20 519.00 509.79 112A 3 Rib, ribeye, bnls, heavy 73 310,364 480.00 531.33 499.33 113C 1 Chuck, semi-bnls, neck/off 11 24,500 190.50 205.00 193.08 114 1 Chuck, shoulder clod 10 13,130 185.00 203.82 190.60 114A 3 Chuck, shoulder clod, trmd 15 41,190 193.33 207.00 199.44 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 17 91,258 300.00 331.00 305.67 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 110,883 206.50 228.00 214.77 116B 1 Chuck, chuck tender (IM) 17 51,645 207.00 224.00 210.03

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 26 74,023 192.07 209.93 199.43 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 8 6,290 252.00 320.00 280.59 130 4 Chuck, short rib 24 40,034 185.00 205.00 188.34 160 1 Round, bone-in 161 1 Round, boneless 5 7,721 202.00 207.00 204.47

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 20 37,138 212.00 230.00 219.86 168 1 Round, top inside round 28 117,397 193.00 211.82 199.09 168 3 Round, top inside round 21 129,733 202.00 215.00 205.64 169 5 Round, top inside, denuded 9 8,317 239.00 255.00 240.81

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 13,461 200.00 218.00 200.97 171B 3 Round, outside round 36 218,525 201.00 229.19 207.76 171C 3 Round, eye of round (IM) 28 63,547 210.00 228.89 216.42 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 28 36,164 450.00 480.00 467.27 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 44 211,605 442.30 488.85 454.41 184 1 Loin, top butt, bnls, heavy 28 29,422 240.00 270.00 245.58 184 3 Loin, top butt, boneless 38 110,980 252.00 280.00 259.21 185A 4 Loin, bottom sirloin, flap 11 156,631 415.00 445.00 418.87 185B 1 Loin, ball-tip, bnls, heavy 24 133,784 211.65 223.00 213.87 185C 1 Loin, sirloin, tri-tip (IM) 8 33,700 285.00 304.89 290.72 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 34 37,871 842.00 924.00 867.05 191A 4 Loin, butt tender, trimmed 7 34,078 764.61 835.00 772.42 193 4 Flank, flank steak (IM) 18 26,436 403.00 430.00 415.94 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 9,899 100.61 130.00 118.82 121D 4 Plate, Inside Skirt (IM) 41 151,715 340.50 370.00 345.54 121C 4 Plate, Outside Skirt (IM) 19 27,537 520.00 585.00 550.78 121E 6 Outside Skirt, pld (IM) 7 2,519 730.00 820.65 787.98

Cap, Wedge Meat & (IM) Lean 72 270,673 226.00 268.00 236.64

Pectoral Meat 59 346,879 217.59 252.00 228.83 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 79 530,501 128.44 150.89 135.44 Ground Beef 75% Ground Beef 81% 101 658,960 149.00 188.82 162.74 Ground Beef 85% Ground Beef 90% Ground Beef 93% 30 92,174 214.69 230.20 222.09 Ground Beef Chuck 80% 49 446,208 162.44 181.00 173.65 Ground Beef Round 85% 37 227,473 201.00 211.45 208.55 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% Blended Ground Beef 81% 11 53,349 182.98 196.60 191.90 Blended Ground Beef 85% Blended Ground Beef 90% 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 24 813,078 43.00 46.50 45.04 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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