Bloomberg News

USDA Boxed Beef Cutout Midday Prices for August 6

August 06, 2012

August 6 (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: 178.55 172.49 Change from prior day: 0.41 0.86 ------------------------------------------------------------------------------- Choice/Select spread: 6.07

Total Load Count (Cuts, Trimmings, Grids): 132 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 263.96 234.56 Primal Chuck 142.99 143.36 Primal Round 159.36 159.51 Primal Loin 246.58 233.09 Primal Brisket 127.87 126.17 Primal Short Plate 119.14 124.77 Primal Flank 105.35 95.14 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/03 89 79 36 20 223 178.14 171.63 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 177.89 171.14 -------------------------------------------------------------------------------- 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 65.37 loads 2,614,744 pounds Select Cuts 30.59 loads 1,223,627 pounds Trimmings 18.06 loads 722,554 pounds Ground Beef 18.24 load 729,775 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 18 75,426 515.00 556.50 528.56 112A 3 Rib, ribeye, bnls, light 5 1,648 593.00 635.00 604.33 112A 3 Rib, ribeye, bnls, heavy 20 49,570 590.00 648.00 601.66 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 4 82,792 188.00 192.00 188.21 114A 3 Chuck, shoulder clod, trmd 11 55,743 191.00 209.50 194.44 114D 3 Chuck, clod, top blade 7 4,513 275.00 304.50 286.39 114E 3 Chuck, clod, arm roast 12 67,527 211.65 255.00 215.33 114F 5 Chuck, clod tender (IM) 6 3,177 326.74 392.00 352.92 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 28 312,502 213.00 231.50 220.15 116B 1 Chuck, chuck tender (IM) 16 26,381 206.28 225.48 214.51

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 18 117,757 196.40 220.00 204.65 120A 3 Brisket, point/off, bnls 6 2,247 332.85 365.00 353.17 123A 3 Short Plate, short rib 15 39,382 262.00 351.00 329.23 130 4 Chuck, short rib 17 32,440 187.00 230.75 195.04 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 30 93,386 220.00 235.50 223.88 168 1 Round, top inside round 7 26,722 198.00 214.50 202.39 168 3 Round, top inside round 20 84,643 206.00 222.37 209.03 169 5 Round, top inside, denuded 15 93,296 237.00 251.00 240.17

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 2,464 205.34 220.50 209.06 171B 3 Round, outside round 19 81,764 205.00 228.54 211.74 171C 3 Round, eye of round (IM) 25 61,917 212.42 231.00 220.03 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 38,959 489.00 523.00 498.62 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 15,201 431.00 443.00 431.97 180 3 Loin, strip, bnls, 0x1 21 95,981 496.00 547.50 509.19 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 18 184,625 303.50 325.50 306.16 185A 4 Loin, bottom sirloin, flap 3 6,521 440.00 454.37 442.57 185B 1 Loin, ball-tip, bnls, heavy 11 243,185 213.50 225.00 214.55 185C 1 Loin, sirloin, tri-tip (IM) 5 6,562 299.89 346.37 329.37 185D 4 Loin, tri-tip, pld (IM) 6 4,848 456.00 493.42 465.69 189A 4 Loin, tndrloin, trmd, heavy 23 56,758 850.00 935.00 881.75 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 9 14,266 472.00 496.50 482.79 ------------------------------------------------------------------------------- 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 4 2,674 458.00 471.81 465.00 112A 3 Rib, ribeye, bnls, light 3 5,796 510.00 531.37 525.82 112A 3 Rib, ribeye, bnls, heavy 20 72,544 507.00 534.00 515.30 113C 1 Chuck, semi-bnls, neck/off 3 25,416 192.00 202.00 194.18 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 3 11,863 199.50 204.00 201.24 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 4,180 309.00 332.00 317.28 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 14 94,521 213.00 231.50 219.12 116B 1 Chuck, chuck tender (IM) 13 32,837 206.28 217.50 210.42

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 6 45,212 200.00 207.00 201.46 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 3,129 315.00 341.00 328.89 130 4 Chuck, short rib 4 10,710 187.00 196.00 189.79 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 5 3,705 222.00 235.50 230.30 168 1 Round, top inside round 5 16,552 197.00 214.50 200.98 168 3 Round, top inside round 3 12,835 207.00 218.60 210.73 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 4 10,031 209.50 222.80 218.36 171C 3 Round, eye of round (IM) 6 10,962 214.00 232.00 223.34 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 4 18,261 454.65 470.00 458.52 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 4 36,820 466.50 476.00 467.30 184 1 Loin, top butt, bnls, heavy 5 31,050 254.00 267.50 267.16 184 3 Loin, top butt, boneless 6 9,977 262.59 285.60 277.59 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 9 171,640 212.59 228.00 215.11 185C 1 Loin, sirloin, tri-tip (IM) 14 139,516 280.50 305.00 282.29 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 4 6,671 860.00 890.75 862.12 191A 4 Loin, butt tender, trimmed 6 4,254 799.78 855.00 809.97 193 4 Flank, flank steak (IM) 7 33,393 410.00 437.50 414.56 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 3,290 115.00 134.00 121.38 121D 4 Plate, Inside Skirt (IM) 11 83,764 349.00 375.00 353.34 121C 4 Plate, Outside Skirt (IM) 15 20,683 515.00 560.00 535.97 121E 6 Outside Skirt, pld (IM) 4 6,335 702.00 755.00 729.29

Cap, Wedge Meat & (IM) Lean 21 136,117 235.00 244.37 237.34

Pectoral Meat 13 129,715 235.00 246.50 240.09 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 257,820 125.50 146.89 130.91 Ground Beef 75% Ground Beef 81% 22 43,515 165.03 195.50 170.80 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 9 72,038 213.00 220.00 214.79 Ground Beef Chuck 80% 10 169,572 164.20 189.42 184.42 Ground Beef Round 85% 4 10,747 206.75 210.00 207.14 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% 5 17,833 176.73 192.95 188.47 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 15 535,304 35.50 46.30 43.59 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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