Bloomberg News

USDA Boxed Beef Cutout Closing Prices for August 3

August 03, 2012

August 3 (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: 178.14 171.63 Change from prior day: (0.01) 0.25 ------------------------------------------------------------------------------- Choice/Select spread: 6.51

Total Load Count (Cuts, Trimmings, Grids): 223 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 261.40 234.41 Primal Chuck 143.97 142.30 Primal Round 158.56 157.97 Primal Loin 245.53 232.34 Primal Brisket 127.46 125.95 Primal Short Plate 119.31 124.72 Primal Flank 105.17 94.78 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/02 92 60 19 34 204 178.15 171.38 08/01 100 71 22 61 255 177.69 170.83 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 177.65 170.82 -------------------------------------------------------------------------------- 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 88.80 loads 3,551,901 pounds Select Cuts 78.56 loads 3,142,478 pounds Trimmings 36.44 loads 1,457,601 pounds Ground Beef 19.56 load 782,282 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 21 69,514 505.63 561.50 528.58 112A 3 Rib, ribeye, bnls, light 3 3,258 600.00 611.11 602.30 112A 3 Rib, ribeye, bnls, heavy 45 149,407 569.96 632.89 603.17 113C 1 Chuck, semi-bnls, neck/off 4 21,955 185.88 197.00 196.38 114 1 Chuck, shoulder clod 11 36,965 179.00 200.00 185.70 114A 3 Chuck, shoulder clod, trmd 26 53,794 194.21 210.00 200.27 114D 3 Chuck, clod, top blade 5 9,256 278.65 303.75 282.10 114E 3 Chuck, clod, arm roast 8 7,376 205.00 240.60 236.42 114F 5 Chuck, clod tender (IM) 8 8,115 300.00 355.00 330.54 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 65 734,996 208.55 236.60 219.17 116B 1 Chuck, chuck tender (IM) 30 98,384 203.00 217.60 210.27

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 32 159,156 192.00 222.00 200.11 120A 3 Brisket, point/off, bnls 11 19,157 309.08 337.60 323.75 123A 3 Short Plate, short rib 19 26,192 250.00 359.99 297.12 130 4 Chuck, short rib 26 67,998 187.00 228.00 196.04 160 1 Round, bone-in 5 5,408 195.00 205.00 199.15 161 1 Round, boneless 6 14,894 204.00 214.00 209.77

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 55 244,116 210.00 231.98 221.62 168 1 Round, top inside round 43 421,872 193.05 215.00 199.09 168 3 Round, top inside round 28 112,525 205.00 223.00 209.03 169 5 Round, top inside, denuded 14 45,150 235.00 253.00 244.17

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 10,360 183.00 207.00 199.10 171B 3 Round, outside round 48 309,377 201.00 230.00 208.50 171C 3 Round, eye of round (IM) 36 64,944 207.00 232.60 218.56 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 15 49,933 489.27 518.89 495.50 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 10 29,053 431.00 466.00 432.98 180 3 Loin, strip, bnls, 0x1 26 95,031 475.63 547.50 509.30 184 1 Loin, top butt, bnls, heavy 14 16,722 290.00 323.00 297.53 184 3 Loin, top butt, boneless 34 115,314 285.00 336.65 309.12 185A 4 Loin, bottom sirloin, flap 28 49,894 424.50 463.00 440.25 185B 1 Loin, ball-tip, bnls, heavy 21 53,186 207.00 230.00 218.07 185C 1 Loin, sirloin, tri-tip (IM) 7 39,831 289.00 346.65 302.65 185D 4 Loin, tri-tip, pld (IM) 8 14,707 456.00 479.00 471.46 189A 4 Loin, tndrloin, trmd, heavy 36 62,713 860.00 941.00 893.48 191A 4 Loin, butt tender, trimmed 11 16,478 817.00 880.00 845.41 193 4 Flank, flank steak (IM) 18 18,925 470.60 499.52 484.41 ------------------------------------------------------------------------------- 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 16 29,815 456.00 489.50 469.57 112A 3 Rib, ribeye, bnls, light 13 24,610 506.00 539.67 516.18 112A 3 Rib, ribeye, bnls, heavy 47 267,935 492.00 536.00 511.51 113C 1 Chuck, semi-bnls, neck/off 10 54,681 185.88 201.89 191.80 114 1 Chuck, shoulder clod 12 77,163 179.50 193.00 187.05 114A 3 Chuck, shoulder clod, trmd 18 105,832 189.40 210.00 200.27 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 9 22,158 310.00 330.50 314.67 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 63 527,705 208.75 227.89 214.73 116B 1 Chuck, chuck tender (IM) 11 71,596 205.00 220.00 207.90

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 23 440,170 194.00 213.47 198.57 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 17,208 240.84 325.73 252.11 130 4 Chuck, short rib 10 44,221 190.00 215.00 192.18 160 1 Round, bone-in 0 0 161 1 Round, boneless 3 7,056 205.00 214.00 211.56

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 20 108,481 213.50 230.00 221.44 168 1 Round, top inside round 23 189,314 195.02 213.75 199.99 168 3 Round, top inside round 14 53,232 202.00 220.35 209.35 169 5 Round, top inside, denuded 6 32,461 244.00 249.50 246.00

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 3,125 198.60 219.50 204.71 171B 3 Round, outside round 18 142,723 202.00 220.51 208.72 171C 3 Round, eye of round (IM) 18 41,330 205.82 229.50 213.98 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 8 17,395 455.00 490.00 465.30 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 15 75,124 449.00 482.00 469.45 184 1 Loin, top butt, bnls, heavy 12 29,551 242.00 262.00 251.09 184 3 Loin, top butt, boneless 17 66,828 256.50 286.00 271.92 185A 4 Loin, bottom sirloin, flap 11 92,642 400.00 445.00 409.45 185B 1 Loin, ball-tip, bnls, heavy 8 103,066 212.15 232.98 213.46 185C 1 Loin, sirloin, tri-tip (IM) 10 36,383 282.01 306.35 286.26 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 21 41,099 830.00 877.78 868.01 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 6 5,179 389.30 433.50 405.17 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 3 6,038 115.00 122.50 117.17 121D 4 Plate, Inside Skirt (IM) 18 63,702 340.00 364.00 354.06 121C 4 Plate, Outside Skirt (IM) 30 54,852 473.00 560.00 507.64 121E 6 Outside Skirt, pld (IM) 17 188,676 622.00 797.00 630.81

Cap, Wedge Meat & (IM) Lean 20 43,950 230.16 246.00 241.40

Pectoral Meat 34 106,172 220.00 250.00 230.55 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 22 296,023 126.53 155.00 137.61 Ground Beef 75% Ground Beef 81% 33 188,382 158.00 194.35 170.04 Ground Beef 85% Ground Beef 90% Ground Beef 93% 11 62,982 220.00 248.75 233.12 Ground Beef Chuck 80% 8 39,686 163.00 187.00 168.40 Ground Beef Round 85% 9 36,940 201.62 211.00 206.17 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% 6 63,216 176.20 194.00 186.72 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 33 1,254,381 41.00 45.46 42.15 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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