Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 177.55 170.84 Change from prior day: (0.27) (0.25) ------------------------------------------------------------------------------- Choice/Select spread: 6.70

Total Load Count (Cuts, Trimmings, Grids): 160 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 260.71 232.04 Primal Chuck 142.21 143.71 Primal Round 159.97 158.04 Primal Loin 244.31 228.50 Primal Brisket 127.88 126.12 Primal Short Plate 117.66 122.72 Primal Flank 106.57 94.88 -------------------------------------------------------------------------------- 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 57.01 loads 2,280,214 pounds Select Cuts 50.91 loads 2,036,210 pounds Trimmings 13.83 loads 553,113 pounds Ground Beef 37.86 load 1,514,259 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 24 55,941 515.00 567.00 535.66 112A 3 Rib, ribeye, bnls, light 18 11,102 592.74 636.00 611.10 112A 3 Rib, ribeye, bnls, heavy 53 142,901 588.87 625.65 600.05 113C 1 Chuck, semi-bnls, neck/off 5 27,381 190.00 195.00 190.88 114 1 Chuck, shoulder clod 13 61,392 180.50 191.50 182.54 114A 3 Chuck, shoulder clod, trmd 20 76,103 188.00 204.89 195.57 114D 3 Chuck, clod, top blade 8 88,987 265.00 296.82 266.50 114E 3 Chuck, clod, arm roast 6 78,534 206.00 229.00 206.70 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 46 186,466 211.00 223.89 214.37 116B 1 Chuck, chuck tender (IM) 16 10,089 209.00 220.00 212.51

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 40 114,870 192.07 221.00 202.45 120A 3 Brisket, point/off, bnls 15 10,633 336.92 365.00 360.21 123A 3 Short Plate, short rib 22 60,516 261.00 366.00 292.78 130 4 Chuck, short rib 14 58,672 176.75 206.00 182.69 160 1 Round, bone-in 4 4,080 190.00 194.00 192.68 161 1 Round, boneless 4 8,863 201.00 212.00 209.11

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 35 116,655 213.69 225.50 219.39 168 1 Round, top inside round 25 52,714 197.90 207.28 200.30 168 3 Round, top inside round 9 23,366 203.99 219.99 209.23 169 5 Round, top inside, denuded 18 23,648 239.00 249.00 239.91

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 7,486 195.50 218.00 199.40 171B 3 Round, outside round 35 69,176 206.05 228.89 213.81 171C 3 Round, eye of round (IM) 28 85,395 211.00 228.89 216.68 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 24 22,221 483.69 531.00 498.87 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 15 13,960 441.00 467.00 449.43 180 3 Loin, strip, bnls, 0x1 47 247,613 478.69 536.00 487.81 184 1 Loin, top butt, bnls, heavy 14 17,771 290.00 312.28 298.57 184 3 Loin, top butt, boneless 17 29,001 290.00 335.00 304.35 185A 4 Loin, bottom sirloin, flap 27 65,226 419.00 461.00 437.34 185B 1 Loin, ball-tip, bnls, heavy 18 54,534 214.50 229.50 220.47 185C 1 Loin, sirloin, tri-tip (IM) 14 8,099 330.00 356.00 341.61 185D 4 Loin, tri-tip, pld (IM) 10 21,590 465.00 496.28 466.94 189A 4 Loin, tndrloin, trmd, heavy 44 49,080 851.39 942.00 872.43 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 14 6,229 467.62 496.93 486.72 ------------------------------------------------------------------------------- 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 11 5,162 456.93 467.00 460.24 112A 3 Rib, ribeye, bnls, light 31 199,758 484.27 516.25 511.54 112A 3 Rib, ribeye, bnls, heavy 50 207,854 480.00 531.00 501.50 113C 1 Chuck, semi-bnls, neck/off 9 20,378 190.50 205.00 192.50 114 1 Chuck, shoulder clod 6 10,196 186.50 190.00 189.09 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) 15 90,907 300.00 331.00 305.60 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 64,572 206.50 228.00 215.47 116B 1 Chuck, chuck tender (IM) 12 14,487 212.00 224.00 215.23

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 23 69,587 192.07 209.93 199.29 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 6 4,558 252.00 320.00 282.78 130 4 Chuck, short rib 17 21,405 187.00 195.80 189.59 160 1 Round, bone-in 161 1 Round, boneless 4 7,059 204.00 207.00 204.70

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 36,233 212.00 230.00 219.65 168 1 Round, top inside round 20 103,403 196.00 210.31 199.20 168 3 Round, top inside round 18 120,050 202.00 215.00 205.05 169 5 Round, top inside, denuded 7 6,758 239.00 248.89 240.39

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 11,870 200.00 218.00 201.06 171B 3 Round, outside round 26 106,757 205.00 228.89 207.97 171C 3 Round, eye of round (IM) 19 26,527 212.00 228.89 217.87 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 28,382 469.16 476.25 470.39 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 36 181,676 442.30 482.00 452.33 184 1 Loin, top butt, bnls, heavy 23 25,292 240.00 265.00 244.79 184 3 Loin, top butt, boneless 30 82,068 253.00 272.82 260.34 185A 4 Loin, bottom sirloin, flap 6 138,712 415.00 455.00 418.03 185B 1 Loin, ball-tip, bnls, heavy 20 117,489 211.65 223.00 213.26 185C 1 Loin, sirloin, tri-tip (IM) 5 6,616 290.00 329.92 295.89 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 29 26,586 842.00 924.00 867.73 191A 4 Loin, butt tender, trimmed 5 4,418 799.78 851.93 825.99 193 4 Flank, flank steak (IM) 11 19,838 410.00 430.00 417.29 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 6,381 100.61 120.00 116.80 121D 4 Plate, Inside Skirt (IM) 21 97,302 340.50 370.00 345.05 121C 4 Plate, Outside Skirt (IM) 13 10,361 524.00 560.65 543.96 121E 6 Outside Skirt, pld (IM) 6 1,997 730.00 820.65 779.60

Cap, Wedge Meat & (IM) Lean 35 77,950 233.47 254.00 239.12

Pectoral Meat 38 295,490 217.59 252.00 228.62 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 47 271,151 128.44 148.00 135.86 Ground Beef 75% Ground Beef 81% 68 465,386 158.00 187.89 164.93 Ground Beef 85% Ground Beef 90% Ground Beef 93% 26 73,973 214.69 230.20 222.76 Ground Beef Chuck 80% 45 372,318 162.44 181.00 173.64 Ground Beef Round 85% 34 187,277 204.00 209.00 207.95 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% 0 0 Blended Ground Beef 81% 6 47,324 186.60 196.60 192.31 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 14 475,133 43.66 46.50 45.01 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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