Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 178.69 171.95 Change from prior day: 0.54 0.57 ------------------------------------------------------------------------------- Choice/Select spread: 6.74

Total Load Count (Cuts, Trimmings, Grids): 113 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 260.96 234.10 Primal Chuck 146.08 143.24 Primal Round 158.11 157.63 Primal Loin 244.90 232.49 Primal Brisket 129.03 125.94 Primal Short Plate 120.97 126.21 Primal Flank 105.60 95.25 -------------------------------------------------------------------------------- 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 49.38 loads 1,975,385 pounds Select Cuts 49.61 loads 1,984,213 pounds Trimmings 0.00 loads 0 pounds Ground Beef 13.58 load 543,135 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 5 3,997 505.63 556.50 518.42 112A 3 Rib, ribeye, bnls, light 3 3,258 600.00 611.11 602.30 112A 3 Rib, ribeye, bnls, heavy 31 123,731 569.96 623.00 601.66 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 6 20,418 179.00 195.00 184.30 114A 3 Chuck, shoulder clod, trmd 16 34,112 194.21 206.00 198.90 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 3 1,970 205.00 240.13 227.80 114F 5 Chuck, clod tender (IM) 6 6,995 300.00 355.00 330.53 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 32 190,395 208.55 231.00 215.15 116B 1 Chuck, chuck tender (IM) 11 38,500 203.00 217.00 212.29

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 22 80,506 199.92 222.00 204.43 120A 3 Brisket, point/off, bnls 9 11,357 309.08 318.02 314.24 123A 3 Short Plate, short rib 11 18,745 263.50 359.99 299.50 130 4 Chuck, short rib 13 44,474 188.00 214.42 195.40 160 1 Round, bone-in 161 1 Round, boneless 3 11,310 204.00 209.00 208.47

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 33 174,877 210.00 231.00 220.20 168 1 Round, top inside round 21 239,622 193.05 209.00 197.90 168 3 Round, top inside round 11 41,154 205.00 217.00 212.00 169 5 Round, top inside, denuded 5 10,724 235.00 247.00 238.79

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 9,541 183.00 207.00 198.60 171B 3 Round, outside round 27 239,510 201.00 220.00 205.61 171C 3 Round, eye of round (IM) 15 30,361 214.00 226.90 217.70 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 8 23,334 490.03 516.00 496.68 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 9 28,816 431.00 466.00 432.72 180 3 Loin, strip, bnls, 0x1 17 67,872 475.63 536.00 501.08 184 1 Loin, top butt, bnls, heavy 7 8,078 290.00 305.00 290.93 184 3 Loin, top butt, boneless 19 73,899 285.00 336.65 309.39 185A 4 Loin, bottom sirloin, flap 16 20,058 427.52 463.00 442.73 185B 1 Loin, ball-tip, bnls, heavy 14 34,896 217.00 225.90 221.55 185C 1 Loin, sirloin, tri-tip (IM) 4 12,297 294.00 346.65 299.87 185D 4 Loin, tri-tip, pld (IM) 6 7,563 456.00 479.00 468.14 189A 4 Loin, tndrloin, trmd, heavy 28 55,461 860.00 941.00 895.32 191A 4 Loin, butt tender, trimmed 4 1,914 879.55 880.00 879.92 193 4 Flank, flank steak (IM) 11 11,482 476.00 499.52 485.07 ------------------------------------------------------------------------------- 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 5 3,733 458.50 476.00 467.71 112A 3 Rib, ribeye, bnls, light 7 6,776 510.00 525.00 516.78 112A 3 Rib, ribeye, bnls, heavy 36 244,711 494.00 535.00 511.08 113C 1 Chuck, semi-bnls, neck/off 7 32,209 192.73 201.50 195.63 114 1 Chuck, shoulder clod 7 68,029 179.50 189.00 187.29 114A 3 Chuck, shoulder clod, trmd 7 32,839 193.50 210.00 200.24 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 21,687 310.00 330.50 314.42 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 43 316,034 208.75 227.50 213.11 116B 1 Chuck, chuck tender (IM) 5 6,206 205.00 218.50 213.33

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 11 132,740 196.00 209.51 198.25 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 13,412 245.00 325.73 252.45 130 4 Chuck, short rib 5 10,879 190.00 206.00 193.45 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 14 69,485 213.50 224.00 219.69 168 1 Round, top inside round 16 164,130 195.02 210.50 199.48 168 3 Round, top inside round 14 53,232 202.00 220.35 209.35 169 5 Round, top inside, denuded 4 15,409 244.00 249.50 247.01

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 2,768 198.60 219.50 202.99 171B 3 Round, outside round 16 97,468 202.00 220.51 208.49 171C 3 Round, eye of round (IM) 10 25,364 205.82 229.50 210.52 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 5 16,527 455.00 480.00 464.80 175 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 10 59,432 449.00 480.15 472.29 184 1 Loin, top butt, bnls, heavy 8 26,088 242.00 255.00 251.17 184 3 Loin, top butt, boneless 7 22,952 258.51 286.00 264.53 185A 4 Loin, bottom sirloin, flap 8 27,033 410.34 445.00 424.11 185B 1 Loin, ball-tip, bnls, heavy 6 101,899 212.15 230.50 213.42 185C 1 Loin, sirloin, tri-tip (IM) 8 32,103 282.01 306.35 284.73 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 39,507 830.00 877.78 868.03 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 5 3,006 389.30 433.50 401.67 ------------------------------------------------------------------------------- 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) 10 46,174 349.40 364.00 355.20 121C 4 Plate, Outside Skirt (IM) 24 24,002 489.30 560.00 546.22 121E 6 Outside Skirt, pld (IM) 16 188,110 622.00 797.00 630.31

Cap, Wedge Meat & (IM) Lean 11 24,654 235.83 246.00 241.75

Pectoral Meat 20 79,445 220.00 250.00 229.38 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 13 214,679 126.53 147.00 136.55 Ground Beef 75% Ground Beef 81% 20 130,316 158.00 194.35 169.67 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 8 59,807 220.00 237.43 232.58 Ground Beef Chuck 80% 3 20,217 165.00 168.00 167.07 Ground Beef Round 85% 6 33,018 201.62 209.38 205.92 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% 4 47,216 183.60 194.00 189.66 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 0 0 Frozen 50% lean trimmings 0 0 -------------------------------------------------------------------------------- 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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