Bloomberg News

USDA Boxed Beef Cutout Closing Prices for September 4

September 04, 2012

September 4 (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: 190.45 180.69 Change from prior day: 0.83 1.23 ------------------------------------------------------------------------------- Choice/Select spread: 9.76

Total Load Count (Cuts, Trimmings, Grids): 176 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 295.54 255.71 Primal Chuck 157.64 155.34 Primal Round 168.40 162.68 Primal Loin 249.64 234.26 Primal Brisket 137.20 134.13 Primal Short Plate 126.96 131.16 Primal Flank 113.93 108.47 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/31 65 42 14 25 146 189.62 179.46 08/30 80 58 7 12 157 190.83 180.03 08/29 91 76 10 53 230 190.92 180.95 08/28 54 56 5 21 135 191.91 181.94 08/27 51 51 13 20 136 191.98 182.17 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.05 180.91 -------------------------------------------------------------------------------- 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 63.75 loads 2,549,806 pounds Select Cuts 61.39 loads 2,455,438 pounds Trimmings 17.80 loads 712,171 pounds Ground Beef 33.44 load 1,337,774 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 27 183,572 592.00 628.00 602.67 112A 3 Rib, ribeye, bnls, light 10 24,480 675.00 715.00 682.55 112A 3 Rib, ribeye, bnls, heavy 54 113,457 661.50 715.00 679.50 113C 1 Chuck, semi-bnls, neck/off 3 1,171 202.00 210.00 204.27 114 1 Chuck, shoulder clod 6 10,882 195.00 210.00 197.18 114A 3 Chuck, shoulder clod, trmd 31 157,894 204.70 236.00 213.65 114D 3 Chuck, clod, top blade 14 15,404 252.29 299.00 275.99 114E 3 Chuck, clod, arm roast 23 65,448 226.00 265.00 247.62 114F 5 Chuck, clod tender (IM) 14 19,703 330.00 370.00 350.64 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 40 149,799 226.60 246.00 234.46 116B 1 Chuck, chuck tender (IM) 17 17,368 230.00 247.00 240.12

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 28 52,802 203.00 225.00 217.17 120A 3 Brisket, point/off, bnls 12 7,047 361.00 389.00 371.40 123A 3 Short Plate, short rib 23 36,469 275.00 361.00 334.54 130 4 Chuck, short rib 26 39,622 188.92 224.00 204.50 160 1 Round, bone-in 7 5,847 200.00 217.00 203.84 161 1 Round, boneless 8 9,848 199.00 224.00 214.20

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 50 160,714 220.00 251.00 227.86 168 1 Round, top inside round 33 197,772 201.00 219.50 206.10 168 3 Round, top inside round 19 85,563 208.00 229.00 220.11 169 5 Round, top inside, denuded 18 52,183 249.00 278.00 255.95

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 1,703 201.00 218.00 207.89 171B 3 Round, outside round 58 193,577 207.00 237.00 218.05 171C 3 Round, eye of round (IM) 30 49,789 225.00 247.60 234.92 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 37 136,070 480.28 530.80 503.67 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 8 8,133 445.00 463.00 446.57 180 3 Loin, strip, bnls, 0x1 46 64,351 483.00 544.50 512.85 184 1 Loin, top butt, bnls, heavy 12 10,465 299.99 320.00 302.06 184 3 Loin, top butt, boneless 24 84,683 304.25 334.50 316.81 185A 4 Loin, bottom sirloin, flap 28 126,074 360.00 433.83 379.30 185B 1 Loin, ball-tip, bnls, heavy 20 115,115 215.15 236.28 223.90 185C 1 Loin, sirloin, tri-tip (IM) 10 10,000 290.00 318.00 296.39 185D 4 Loin, tri-tip, pld (IM) 11 17,975 385.00 444.00 388.41 189A 4 Loin, tndrloin, trmd, heavy 31 52,400 965.00 1035.00 985.77 191A 4 Loin, butt tender, trimmed 18 9,103 900.00 960.00 920.60 193 4 Flank, flank steak (IM) 19 10,027 486.00 538.00 511.88 ------------------------------------------------------------------------------- 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 22 12,820 500.00 535.00 513.98 112A 3 Rib, ribeye, bnls, light 13 69,876 549.21 600.00 556.55 112A 3 Rib, ribeye, bnls, heavy 42 151,445 559.87 598.00 569.46 113C 1 Chuck, semi-bnls, neck/off 11 22,510 194.39 214.00 199.83 114 1 Chuck, shoulder clod 4 12,710 193.00 206.00 195.15 114A 3 Chuck, shoulder clod, trmd 19 36,414 205.00 224.00 207.64 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 9 9,900 320.00 336.00 323.20 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 42 271,496 208.53 241.00 223.18 116B 1 Chuck, chuck tender (IM) 10 15,195 228.44 246.00 239.75

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 9 50,472 202.95 225.00 206.16 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 13 43,381 180.00 257.33 212.49 160 1 Round, bone-in 0 0 161 1 Round, boneless 6 6,893 197.29 219.25 210.13

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 23 106,091 220.00 235.25 223.14 168 1 Round, top inside round 18 49,927 195.00 218.75 202.17 168 3 Round, top inside round 16 91,908 207.98 229.00 211.54 169 5 Round, top inside, denuded 5 2,008 256.40 260.00 257.03

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 14,697 194.00 206.98 194.62 171B 3 Round, outside round 20 96,425 204.98 229.00 212.89 171C 3 Round, eye of round (IM) 20 36,616 219.83 245.00 234.59 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 25 98,913 460.00 494.00 467.61 175 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 36 68,903 425.00 487.25 441.51 184 1 Loin, top butt, bnls, heavy 10 93,112 265.00 290.00 274.28 184 3 Loin, top butt, boneless 40 303,708 270.00 305.00 278.20 185A 4 Loin, bottom sirloin, flap 14 224,121 349.54 405.00 354.25 185B 1 Loin, ball-tip, bnls, heavy 21 36,961 210.15 235.00 218.35 185C 1 Loin, sirloin, tri-tip (IM) 9 18,098 250.43 290.00 261.34 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 25 45,961 881.00 965.00 918.58 191A 4 Loin, butt tender, trimmed 13 7,165 788.08 857.73 809.43 193 4 Flank, flank steak (IM) 17 23,383 460.00 490.00 469.19 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 16,544 102.98 115.00 110.04 121D 4 Plate, Inside Skirt (IM) 46 108,607 337.16 377.00 345.90 121C 4 Plate, Outside Skirt (IM) 22 35,116 513.29 580.00 527.10 121E 6 Outside Skirt, pld (IM) 10 28,952 800.00 847.40 830.98

Cap, Wedge Meat & (IM) Lean 32 133,863 242.45 265.00 250.04

Pectoral Meat 23 22,443 247.00 277.00 261.25 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 55 436,895 134.85 165.50 145.25 Ground Beef 75% Ground Beef 81% 49 384,464 180.00 216.98 199.32 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 18 54,593 242.00 265.25 251.71 Ground Beef Chuck 80% 23 140,283 190.00 227.00 207.46 Ground Beef Round 85% 14 83,457 211.00 232.00 227.48 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% 8 32,645 207.70 212.60 209.90 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 29 670,171 55.00 65.00 60.36 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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