Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 179.77 174.16 Change from prior day: 1.28 1.76 ------------------------------------------------------------------------------- Choice/Select spread: 5.61

Total Load Count (Cuts, Trimmings, Grids): 125 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 267.45 236.61 Primal Chuck 143.76 145.54 Primal Round 160.91 162.34 Primal Loin 247.29 233.89 Primal Brisket 128.71 125.93 Primal Short Plate 119.61 125.14 Primal Flank 106.06 94.38 -------------------------------------------------------------------------------- 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 65.26 loads 2,610,576 pounds Select Cuts 31.61 loads 1,264,223 pounds Trimmings 9.50 loads 379,827 pounds Ground Beef 18.14 load 725,607 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 25 40,806 515.00 576.25 539.52 112A 3 Rib, ribeye, bnls, light 9 63,709 600.00 640.64 627.31 112A 3 Rib, ribeye, bnls, heavy 55 92,189 585.00 646.28 608.23 113C 1 Chuck, semi-bnls, neck/off 3 43,991 175.00 197.00 176.72 114 1 Chuck, shoulder clod 20 66,765 180.00 198.00 194.04 114A 3 Chuck, shoulder clod, trmd 22 164,154 194.24 211.00 201.83 114D 3 Chuck, clod, top blade 7 20,109 273.00 301.00 275.62 114E 3 Chuck, clod, arm roast 7 22,664 216.25 230.71 227.11 114F 5 Chuck, clod tender (IM) 12 10,386 319.52 385.77 329.13 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 88,448 213.00 231.65 219.43 116B 1 Chuck, chuck tender (IM) 16 24,665 206.00 220.00 214.99

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 39 743,491 194.00 220.00 203.28 120A 3 Brisket, point/off, bnls 6 9,554 315.00 352.00 318.56 123A 3 Short Plate, short rib 17 38,123 260.00 350.00 299.05 130 4 Chuck, short rib 11 18,084 184.75 228.00 200.89 160 1 Round, bone-in 5 21,995 192.00 197.00 192.89 161 1 Round, boneless 4 5,230 206.00 214.65 210.78

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 32 82,713 218.00 235.65 226.14 168 1 Round, top inside round 19 67,350 198.00 217.00 200.80 168 3 Round, top inside round 22 134,503 204.00 225.44 213.14 169 5 Round, top inside, denuded 11 11,266 233.00 252.47 242.21

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 8,164 201.00 215.28 206.97 171B 3 Round, outside round 33 157,793 205.00 226.00 212.87 171C 3 Round, eye of round (IM) 23 23,781 212.00 233.71 222.65 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 13 6,657 499.00 536.00 516.00 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 11 19,014 452.75 515.00 467.23 180 3 Loin, strip, bnls, 0x1 35 56,205 473.84 556.00 517.61 184 1 Loin, top butt, bnls, heavy 17 20,349 290.00 320.00 306.89 184 3 Loin, top butt, boneless 21 220,460 305.00 330.00 307.08 185A 4 Loin, bottom sirloin, flap 22 73,801 430.00 451.00 435.06 185B 1 Loin, ball-tip, bnls, heavy 8 24,633 217.00 245.45 222.42 185C 1 Loin, sirloin, tri-tip (IM) 3 2,546 304.00 322.67 309.65 185D 4 Loin, tri-tip, pld (IM) 12 3,503 445.00 488.71 476.67 189A 4 Loin, tndrloin, trmd, heavy 17 38,812 880.00 957.85 911.16 191A 4 Loin, butt tender, trimmed 7 1,682 844.00 882.25 865.01 193 4 Flank, flank steak (IM) 22 11,867 480.00 495.72 488.64 ------------------------------------------------------------------------------- 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 18 79,627 447.00 482.28 453.03 112A 3 Rib, ribeye, bnls, light 12 25,694 499.50 549.00 525.92 112A 3 Rib, ribeye, bnls, heavy 48 74,577 504.00 549.99 523.74 113C 1 Chuck, semi-bnls, neck/off 6 7,492 194.75 205.25 195.94 114 1 Chuck, shoulder clod 4 12,975 188.00 196.00 194.23 114A 3 Chuck, shoulder clod, trmd 12 43,772 196.62 209.25 204.28 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 15,866 309.00 311.85 311.79 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 20 77,023 215.00 231.25 220.63 116B 1 Chuck, chuck tender (IM) 12 28,665 204.00 219.25 208.38

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 16 71,085 194.00 213.00 198.82 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 6 15,028 186.00 210.00 191.70 160 1 Round, bone-in 161 1 Round, boneless 3 2,716 211.75 217.25 212.47

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 15 39,871 221.00 235.25 228.79 168 1 Round, top inside round 9 64,189 201.00 213.28 207.74 168 3 Round, top inside round 9 46,863 207.20 216.00 213.36 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 15 92,309 205.00 220.00 211.72 171C 3 Round, eye of round (IM) 18 54,844 213.00 235.00 227.18 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 16 29,169 450.00 488.26 463.85 175 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 22 22,578 466.00 520.30 482.17 184 1 Loin, top butt, bnls, heavy 7 6,572 242.00 270.00 259.85 184 3 Loin, top butt, boneless 10 36,162 258.00 283.64 272.78 185A 4 Loin, bottom sirloin, flap 9 12,958 405.72 440.00 415.11 185B 1 Loin, ball-tip, bnls, heavy 13 53,798 211.49 235.25 217.21 185C 1 Loin, sirloin, tri-tip (IM) 6 60,210 276.00 289.00 277.76 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 24 24,478 850.00 891.25 866.90 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 21 71,942 394.00 425.00 399.93 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 17 27,742 340.00 366.00 351.09 121C 4 Plate, Outside Skirt (IM) 9 9,582 518.50 545.00 529.12 121E 6 Outside Skirt, pld (IM) 12 12,585 715.00 797.00 745.43

Cap, Wedge Meat & (IM) Lean 14 37,010 230.00 252.50 240.25

Pectoral Meat 11 16,410 226.46 262.80 240.44 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 23 155,834 131.42 155.00 143.14 Ground Beef 75% Ground Beef 81% 22 118,571 162.30 192.25 178.94 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 12 97,971 221.43 255.25 230.70 Ground Beef Chuck 80% 15 49,496 165.25 187.00 176.69 Ground Beef Round 85% 6 46,682 201.00 215.00 208.19 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 83,834 179.60 194.00 190.54 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 13 364,427 41.50 45.00 43.93 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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