Bloomberg News

USDA Boxed Beef Cutout Closing Prices for August 7

August 07, 2012

August 7 (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: 179.90 173.95 Change from prior day: 1.41 1.55 ------------------------------------------------------------------------------- Choice/Select spread: 5.95

Total Load Count (Cuts, Trimmings, Grids): 215 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 267.27 236.23 Primal Chuck 144.21 144.99 Primal Round 160.59 162.19 Primal Loin 247.82 234.08 Primal Brisket 128.38 125.81 Primal Short Plate 119.49 125.10 Primal Flank 105.91 94.25 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/06 92 57 21 26 196 178.49 172.40 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 178.06 171.46 -------------------------------------------------------------------------------- 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 111.69 loads 4,467,408 pounds Select Cuts 54.32 loads 2,172,843 pounds Trimmings 20.08 loads 803,309 pounds Ground Beef 29.40 load 1,176,123 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 40 71,228 515.00 584.00 539.21 112A 3 Rib, ribeye, bnls, light 12 67,175 600.00 646.00 628.19 112A 3 Rib, ribeye, bnls, heavy 80 125,268 585.00 646.28 611.35 113C 1 Chuck, semi-bnls, neck/off 4 45,152 175.00 197.00 177.24 114 1 Chuck, shoulder clod 25 76,128 180.00 198.00 193.72 114A 3 Chuck, shoulder clod, trmd 42 249,186 194.24 214.00 202.06 114D 3 Chuck, clod, top blade 16 42,240 273.00 304.65 277.55 114E 3 Chuck, clod, arm roast 17 30,613 215.00 254.00 233.28 114F 5 Chuck, clod tender (IM) 15 12,783 319.52 385.77 332.19 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 60 347,594 213.00 233.50 218.40 116B 1 Chuck, chuck tender (IM) 28 56,389 206.00 220.32 213.68

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 67 968,473 194.00 220.00 202.54 120A 3 Brisket, point/off, bnls 12 19,266 315.00 352.00 323.64 123A 3 Short Plate, short rib 21 49,017 260.00 356.00 308.79 130 4 Chuck, short rib 21 39,004 184.75 228.00 197.75 160 1 Round, bone-in 5 21,995 192.00 197.00 192.89 161 1 Round, boneless 7 7,046 206.00 214.65 210.45

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 47 123,052 218.00 235.65 225.70 168 1 Round, top inside round 30 180,895 198.00 217.00 200.66 168 3 Round, top inside round 35 170,171 204.00 225.44 213.47 169 5 Round, top inside, denuded 16 24,724 233.00 255.00 243.86

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 14,903 201.00 218.70 212.27 171B 3 Round, outside round 62 445,773 205.00 230.65 210.64 171C 3 Round, eye of round (IM) 44 61,348 212.00 233.71 222.82 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 22 19,108 499.00 536.00 512.27 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 12 20,379 452.75 515.00 467.08 180 3 Loin, strip, bnls, 0x1 45 69,875 473.84 556.00 518.86 184 1 Loin, top butt, bnls, heavy 23 25,374 290.00 320.05 307.66 184 3 Loin, top butt, boneless 29 239,764 305.00 336.00 308.35 185A 4 Loin, bottom sirloin, flap 34 281,552 420.00 456.00 425.30 185B 1 Loin, ball-tip, bnls, heavy 18 93,942 216.50 245.45 218.63 185C 1 Loin, sirloin, tri-tip (IM) 8 5,872 304.00 333.30 312.42 185D 4 Loin, tri-tip, pld (IM) 15 5,385 445.00 488.71 468.71 189A 4 Loin, tndrloin, trmd, heavy 32 68,166 880.00 957.85 915.73 191A 4 Loin, butt tender, trimmed 8 2,387 844.00 882.25 867.07 193 4 Flank, flank steak (IM) 28 15,845 480.00 497.50 488.30 ------------------------------------------------------------------------------- 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 28 107,167 447.00 487.65 455.42 112A 3 Rib, ribeye, bnls, light 17 69,828 496.76 549.00 520.88 112A 3 Rib, ribeye, bnls, heavy 66 147,569 495.00 549.99 521.92 113C 1 Chuck, semi-bnls, neck/off 13 13,672 193.50 205.25 197.53 114 1 Chuck, shoulder clod 5 27,839 188.00 196.00 194.64 114A 3 Chuck, shoulder clod, trmd 24 108,157 196.62 211.00 202.76 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 24,052 309.00 335.00 311.93 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 244,406 215.00 231.25 219.17 116B 1 Chuck, chuck tender (IM) 18 37,536 204.00 219.25 209.45

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 22 137,491 194.00 213.00 197.90 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 19,410 265.00 340.00 304.53 130 4 Chuck, short rib 10 36,754 180.00 210.00 186.31 160 1 Round, bone-in 161 1 Round, boneless 5 4,711 206.00 217.25 209.73

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 24 47,856 218.50 235.25 228.56 168 1 Round, top inside round 18 157,958 201.00 213.28 204.91 168 3 Round, top inside round 13 49,311 207.20 219.00 213.64 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 25 114,270 205.00 233.00 212.13 171C 3 Round, eye of round (IM) 31 75,198 213.00 235.00 226.93 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 30 88,165 450.00 489.98 467.46 175 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 32 62,897 462.22 521.00 475.19 184 1 Loin, top butt, bnls, heavy 9 8,936 242.00 270.00 261.56 184 3 Loin, top butt, boneless 22 64,735 253.50 287.65 275.53 185A 4 Loin, bottom sirloin, flap 20 29,293 405.72 446.00 417.24 185B 1 Loin, ball-tip, bnls, heavy 19 55,625 211.49 235.25 217.43 185C 1 Loin, sirloin, tri-tip (IM) 8 60,429 276.00 295.39 277.82 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 31 45,660 850.00 891.25 873.02 191A 4 Loin, butt tender, trimmed 6 1,247 789.00 847.05 803.55 193 4 Flank, flank steak (IM) 25 77,160 394.00 425.00 400.88 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 3 4,072 109.00 117.00 115.20 121D 4 Plate, Inside Skirt (IM) 30 81,710 340.00 366.00 348.58 121C 4 Plate, Outside Skirt (IM) 13 13,959 518.50 581.00 542.12 121E 6 Outside Skirt, pld (IM) 19 21,933 715.00 797.00 738.30

Cap, Wedge Meat & (IM) Lean 27 105,512 230.00 253.75 240.40

Pectoral Meat 38 52,250 226.46 262.80 239.84 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 57 313,518 131.42 155.00 141.83 Ground Beef 75% Ground Beef 81% 45 191,865 162.30 192.25 177.43 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 26 126,363 219.64 255.25 230.17 Ground Beef Chuck 80% 22 101,074 165.25 188.00 180.27 Ground Beef Round 85% 12 59,494 199.00 215.00 207.42 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% 12 104,054 178.30 194.60 188.49 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 29 773,909 39.00 47.00 42.53 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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