Bloomberg News

USDA Boxed Beef Cutout Midday Prices for September 5

September 05, 2012

September 5 (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: 190.84 181.78 Change from prior day: 0.39 1.09 ------------------------------------------------------------------------------- Choice/Select spread: 9.06

Total Load Count (Cuts, Trimmings, Grids): 173 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 296.20 255.74 Primal Chuck 157.95 156.79 Primal Round 168.05 164.94 Primal Loin 251.45 234.64 Primal Brisket 135.10 134.25 Primal Short Plate 128.03 132.24 Primal Flank 112.64 108.31 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/04 64 61 18 33 176 190.45 180.69 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.74 180.61 -------------------------------------------------------------------------------- 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 65.70 loads 2,628,188 pounds Select Cuts 66.09 loads 2,643,530 pounds Trimmings 0.00 loads 0 pounds Ground Beef 40.96 load 1,638,377 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 21 35,127 597.00 643.00 623.39 112A 3 Rib, ribeye, bnls, light 25 24,666 677.00 716.50 699.89 112A 3 Rib, ribeye, bnls, heavy 45 54,794 670.00 706.00 682.02 113C 1 Chuck, semi-bnls, neck/off 5 15,403 193.88 210.00 200.92 114 1 Chuck, shoulder clod 13 37,525 194.61 206.89 203.04 114A 3 Chuck, shoulder clod, trmd 24 107,473 204.87 220.73 212.34 114D 3 Chuck, clod, top blade 4 8,871 260.00 292.00 279.40 114E 3 Chuck, clod, arm roast 15 22,461 225.00 240.00 233.33 114F 5 Chuck, clod tender (IM) 17 12,530 330.00 385.00 349.17 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 52 264,119 224.00 250.00 234.72 116B 1 Chuck, chuck tender (IM) 22 24,450 231.51 250.00 236.61

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 64 687,962 203.00 225.00 208.20 120A 3 Brisket, point/off, bnls 23 18,948 356.64 375.00 369.59 123A 3 Short Plate, short rib 24 44,555 280.00 381.00 326.41 130 4 Chuck, short rib 17 35,082 180.20 216.00 200.92 160 1 Round, bone-in 161 1 Round, boneless 4 1,800 210.00 220.00 210.33

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 48 217,386 219.00 243.00 230.21 168 1 Round, top inside round 32 39,975 200.00 220.70 211.27 168 3 Round, top inside round 23 130,509 209.25 226.00 219.25 169 5 Round, top inside, denuded 19 28,016 243.00 261.00 252.87

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 1,955 206.00 214.00 207.41 171B 3 Round, outside round 38 104,460 204.00 225.50 216.26 171C 3 Round, eye of round (IM) 33 81,073 229.66 252.60 237.17 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 30 39,215 480.28 531.91 496.94 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 14 12,338 443.00 461.00 445.05 180 3 Loin, strip, bnls, 0x1 40 59,173 490.00 556.00 515.43 184 1 Loin, top butt, bnls, heavy 19 14,050 300.00 315.00 302.96 184 3 Loin, top butt, boneless 36 120,034 300.00 338.75 308.84 185A 4 Loin, bottom sirloin, flap 37 77,935 362.00 430.00 382.21 185B 1 Loin, ball-tip, bnls, heavy 25 46,170 220.00 237.89 226.48 185C 1 Loin, sirloin, tri-tip (IM) 8 7,100 284.00 295.70 289.62 185D 4 Loin, tri-tip, pld (IM) 8 15,408 375.00 409.89 379.36 189A 4 Loin, tndrloin, trmd, heavy 35 31,845 965.00 1026.00 986.65 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 19 24,733 480.31 535.00 493.63 ------------------------------------------------------------------------------- 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 19 66,939 480.48 513.00 495.34 112A 3 Rib, ribeye, bnls, light 21 57,496 560.00 600.00 570.21 112A 3 Rib, ribeye, bnls, heavy 55 119,812 550.00 601.39 568.05 113C 1 Chuck, semi-bnls, neck/off 19 34,106 198.00 210.00 206.08 114 1 Chuck, shoulder clod 17 87,058 196.00 206.00 200.07 114A 3 Chuck, shoulder clod, trmd 29 201,089 204.87 215.73 211.41 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 15 8,774 311.00 325.00 319.26 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 43 224,795 223.75 243.20 228.29 116B 1 Chuck, chuck tender (IM) 14 17,077 237.00 240.17 239.58

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 33 523,988 203.80 225.00 207.34 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 0 0 130 4 Chuck, short rib 18 29,402 180.20 215.00 195.00 160 1 Round, bone-in 161 1 Round, boneless 9 8,163 210.00 220.00 211.84

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 22 47,195 221.84 231.00 228.63 168 1 Round, top inside round 20 57,128 195.00 214.00 202.21 168 3 Round, top inside round 19 46,848 206.00 220.90 210.71 169 5 Round, top inside, denuded 5 7,898 242.00 245.00 242.44

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 1,515 204.26 218.00 213.98 171B 3 Round, outside round 33 216,922 205.00 221.00 210.86 171C 3 Round, eye of round (IM) 18 36,786 225.22 241.50 231.88 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 35 153,468 447.00 495.00 462.85 175 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 30 39,127 431.00 487.80 453.83 184 1 Loin, top butt, bnls, heavy 13 22,244 270.00 290.00 279.04 184 3 Loin, top butt, boneless 28 81,630 273.00 305.00 279.35 185A 4 Loin, bottom sirloin, flap 6 33,848 345.00 376.00 356.47 185B 1 Loin, ball-tip, bnls, heavy 14 27,612 220.00 227.00 223.76 185C 1 Loin, sirloin, tri-tip (IM) 9 126,911 253.00 277.00 254.29 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 39 34,303 910.00 950.00 935.04 191A 4 Loin, butt tender, trimmed 8 5,609 850.00 852.80 850.03 193 4 Flank, flank steak (IM) 15 30,205 458.00 498.00 468.89 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 15,982 100.00 120.00 108.06 121D 4 Plate, Inside Skirt (IM) 21 41,750 344.99 370.00 350.86 121C 4 Plate, Outside Skirt (IM) 13 41,014 520.00 580.00 558.62 121E 6 Outside Skirt, pld (IM) 7 5,452 810.00 850.70 820.74

Cap, Wedge Meat & (IM) Lean 44 124,814 245.00 269.80 251.98

Pectoral Meat 33 66,579 244.50 265.89 259.07 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 47 433,099 140.75 165.00 147.67 Ground Beef 75% Ground Beef 81% 66 432,202 202.00 220.89 208.27 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 32 101,128 235.00 257.52 249.54 Ground Beef Chuck 80% 38 295,270 204.90 227.00 212.09 Ground Beef Round 85% 25 137,921 215.75 229.75 224.37 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% 5 19,890 209.30 218.43 212.91 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% 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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