Bloomberg News

USDA Boxed Beef Cutout Midday Prices for August 20

August 20, 2012

August 20 (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: 193.39 186.24 Change from prior day: 0.36 1.52 ------------------------------------------------------------------------------- Choice/Select spread: 7.15

Total Load Count (Cuts, Trimmings, Grids): 56 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 287.68 257.35 Primal Chuck 159.95 161.61 Primal Round 168.46 167.45 Primal Loin 266.07 246.56 Primal Brisket 136.03 134.25 Primal Short Plate 124.49 129.57 Primal Flank 110.81 107.07 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/17 40 30 5 15 90 193.03 184.72 08/16 68 39 25 38 170 191.48 184.40 08/15 73 62 28 36 198 190.52 183.24 08/14 55 49 18 30 151 189.21 181.84 08/13 60 43 8 20 131 186.89 179.42 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.23 182.73 -------------------------------------------------------------------------------- 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 32.41 loads 1,296,399 pounds Select Cuts 11.84 loads 473,475 pounds Trimmings 0.00 loads 0 pounds Ground Beef 12.14 load 485,642 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 10 41,557 578.00 620.00 584.70 112A 3 Rib, ribeye, bnls, light 8 10,882 670.00 715.00 697.44 112A 3 Rib, ribeye, bnls, heavy 19 43,350 644.00 715.70 671.78 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 4 5,181 208.39 214.89 212.24 114A 3 Chuck, shoulder clod, trmd 14 105,004 211.65 222.00 215.47 114D 3 Chuck, clod, top blade 8 38,158 273.00 295.85 275.86 114E 3 Chuck, clod, arm roast 3 24,773 226.59 248.50 228.35 114F 5 Chuck, clod tender (IM) 7 7,354 339.00 356.00 346.12 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 176,870 220.00 240.78 229.46 116B 1 Chuck, chuck tender (IM) 9 44,399 222.50 241.00 236.50

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 14 47,265 208.50 230.00 217.57 120A 3 Brisket, point/off, bnls 4 2,544 347.50 365.00 353.67 123A 3 Short Plate, short rib 11 36,029 270.00 350.00 333.80 130 4 Chuck, short rib 5 17,858 192.75 198.00 195.66 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 17 64,993 226.00 240.89 231.55 168 1 Round, top inside round 4 7,153 213.00 215.00 213.37 168 3 Round, top inside round 6 35,090 213.00 225.00 219.36 169 5 Round, top inside, denuded 10 56,150 252.27 256.00 253.99

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 18 109,265 210.00 231.89 215.42 171C 3 Round, eye of round (IM) 16 49,551 230.00 240.00 235.98 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 12 29,987 522.00 551.00 525.95 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 3 1,121 495.00 528.00 507.55 180 3 Loin, strip, bnls, 0x1 25 63,412 525.00 575.00 553.20 184 1 Loin, top butt, bnls, heavy 3 2,109 320.00 325.00 320.85 184 3 Loin, top butt, boneless 17 44,381 324.00 353.00 329.82 185A 4 Loin, bottom sirloin, flap 12 34,867 415.00 446.58 433.59 185B 1 Loin, ball-tip, bnls, heavy 9 23,016 225.00 245.78 227.56 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 3 5,121 414.00 454.00 451.11 189A 4 Loin, tndrloin, trmd, heavy 16 27,881 978.50 1023.00 987.16 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 3,959 523.00 535.00 529.85 ------------------------------------------------------------------------------- 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 3 1,499 515.00 531.99 524.24 112A 3 Rib, ribeye, bnls, light 4 4,248 580.00 590.00 583.62 112A 3 Rib, ribeye, bnls, heavy 13 33,755 562.00 592.00 572.68 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 3 8,359 216.60 217.39 216.89 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 6,364 322.00 331.00 327.67 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 9 34,660 226.60 245.00 235.34 116B 1 Chuck, chuck tender (IM) 3 4,689 223.60 239.00 230.80

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 10 75,861 208.80 218.00 209.64 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 0 0 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 6 6,790 220.00 241.00 236.63 168 1 Round, top inside round 3 6,359 210.00 214.08 212.82 168 3 Round, top inside round 5 16,735 215.00 223.00 221.52 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 7 33,219 210.00 222.80 215.49 171C 3 Round, eye of round (IM) 5 13,035 220.00 240.00 233.26 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 3 1,846 510.46 533.00 519.43 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 7 7,417 515.46 553.00 533.56 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 5 9,041 293.59 325.00 297.36 185A 4 Loin, bottom sirloin, flap 4 9,183 405.00 424.08 417.00 185B 1 Loin, ball-tip, bnls, heavy 3 4,460 219.50 222.34 220.30 185C 1 Loin, sirloin, tri-tip (IM) 5 5,976 272.50 305.64 279.24 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 5 9,490 925.00 932.12 930.42 191A 4 Loin, butt tender, trimmed 4 10,146 828.50 845.00 829.54 193 4 Flank, flank steak (IM) 6 4,172 480.50 491.00 484.60 ------------------------------------------------------------------------------- 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) 20 81,077 344.00 380.00 349.29 121C 4 Plate, Outside Skirt (IM) 9 5,746 535.00 575.00 556.02 121E 6 Outside Skirt, pld (IM) 6 7,644 790.00 820.00 807.19

Cap, Wedge Meat & (IM) Lean 18 59,929 230.00 260.00 247.76

Pectoral Meat 13 18,962 242.00 267.80 251.35 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 194,673 160.00 181.00 171.10 Ground Beef 75% Ground Beef 81% 14 57,125 190.00 220.50 196.16 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 10 28,658 240.00 264.99 247.64 Ground Beef Chuck 80% 6 23,222 210.00 220.75 218.57 Ground Beef Round 85% 11 71,575 217.66 226.00 220.69 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% 0 0 Blended Ground Beef 81% 6 39,000 197.75 215.60 200.50 Blended Ground Beef 85% 0 0 Blended Ground Beef 90% Blended Ground Beef 93% 0 0 Blended Ground Beef Chuck 80% 0 0 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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