Bloomberg News

USDA Boxed Beef Cutout Closing Prices for October 1

October 01, 2012

October 1 (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: 189.19 176.62 Change from prior day: 0.21 (1.23) ------------------------------------------------------------------------------- Choice/Select spread: 12.57

Total Load Count (Cuts, Trimmings, Grids): 191 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 286.31 245.95 Primal Chuck 162.62 155.81 Primal Round 170.09 167.05 Primal Loin 242.96 216.53 Primal Brisket 132.30 132.91 Primal Short Plate 124.63 130.30 Primal Flank 106.74 102.38 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/28 53 46 38 13 150 188.98 177.85 09/27 89 78 52 31 250 192.04 180.51 09/26 90 85 24 46 245 192.45 181.51 09/25 92 69 12 37 209 192.68 181.56 09/24 68 35 18 18 139 192.69 182.43 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.77 180.77 -------------------------------------------------------------------------------- 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 84.41 loads 3,376,239 pounds Select Cuts 60.81 loads 2,432,227 pounds Trimmings 19.13 loads 765,032 pounds Ground Beef 26.80 load 1,072,039 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 38 385,567 572.00 616.36 593.81 112A 3 Rib, ribeye, bnls, light 4 39,143 650.00 683.54 655.28 112A 3 Rib, ribeye, bnls, heavy 29 58,632 630.83 700.00 654.84 113C 1 Chuck, semi-bnls, neck/off 5 6,696 203.00 230.00 211.58 114 1 Chuck, shoulder clod 5 66,344 202.00 213.22 210.58 114A 3 Chuck, shoulder clod, trmd 12 59,993 216.00 222.58 217.31 114D 3 Chuck, clod, top blade 9 12,486 270.00 300.00 278.82 114E 3 Chuck, clod, arm roast 18 47,143 253.62 265.25 257.30 114F 5 Chuck, clod tender (IM) 13 13,066 335.00 392.00 361.95 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 27 200,647 278.00 297.00 292.69 116B 1 Chuck, chuck tender (IM) 9 40,797 241.00 263.93 256.71

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 25 176,577 200.00 230.80 206.66 120A 3 Brisket, point/off, bnls 13 19,271 350.17 380.00 365.54 123A 3 Short Plate, short rib 19 54,523 300.00 367.00 334.34 130 4 Chuck, short rib 27 55,010 203.87 245.00 222.30 160 1 Round, bone-in 3 2,886 207.00 224.00 212.45 161 1 Round, boneless 4 10,779 213.00 228.33 216.54

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 42 160,030 234.99 255.00 244.80 168 1 Round, top inside round 16 47,598 198.05 205.00 202.04 168 3 Round, top inside round 27 170,504 202.62 227.50 211.25 169 5 Round, top inside, denuded 36 178,620 241.00 255.83 250.43

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 2,422 211.00 220.00 217.49 171B 3 Round, outside round 15 109,449 227.00 243.00 235.40 171C 3 Round, eye of round (IM) 33 98,038 250.00 270.00 258.58 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 67,574 484.17 501.75 493.02 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 5 3,017 430.00 435.00 431.54 180 3 Loin, strip, bnls, 0x1 42 164,017 462.00 514.50 495.16 184 1 Loin, top butt, bnls, heavy 7 9,005 285.00 308.00 290.42 184 3 Loin, top butt, boneless 58 608,159 300.00 325.00 304.37 185A 4 Loin, bottom sirloin, flap 17 52,751 345.00 370.00 351.53 185B 1 Loin, ball-tip, bnls, heavy 11 52,426 218.00 235.70 224.07 185C 1 Loin, sirloin, tri-tip (IM) 13 57,951 238.00 267.00 244.02 185D 4 Loin, tri-tip, pld (IM) 5 10,292 344.00 362.00 354.40 189A 4 Loin, tndrloin, trmd, heavy 39 113,323 950.00 1096.00 976.38 191A 4 Loin, butt tender, trimmed 11 9,553 954.17 985.00 956.55 193 4 Flank, flank steak (IM) 10 14,494 472.00 510.60 499.77 ------------------------------------------------------------------------------- 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 15 59,278 478.35 510.00 482.21 112A 3 Rib, ribeye, bnls, light 6 13,373 533.00 577.00 547.74 112A 3 Rib, ribeye, bnls, heavy 38 203,544 523.20 571.90 536.06 113C 1 Chuck, semi-bnls, neck/off 4 8,253 201.88 218.00 202.68 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 10 26,694 211.25 220.85 215.32 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 9 18,483 286.00 342.00 313.57 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 129,805 245.00 276.00 259.55 116B 1 Chuck, chuck tender (IM) 9 16,236 242.00 257.58 248.69

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 11 88,302 200.00 225.00 205.99 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 8 30,353 272.26 351.00 285.29 130 4 Chuck, short rib 9 26,750 203.92 230.00 227.71 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 12 34,625 232.15 246.00 238.37 168 1 Round, top inside round 9 44,468 189.25 212.04 198.67 168 3 Round, top inside round 11 73,106 199.25 225.00 209.74 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 21 110,254 217.00 242.80 226.44 171C 3 Round, eye of round (IM) 11 23,054 247.00 255.00 251.17 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 102,408 396.03 432.00 421.72 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 21 176,757 359.00 410.00 364.55 184 1 Loin, top butt, bnls, heavy 4 15,181 236.00 265.00 237.45 184 3 Loin, top butt, boneless 23 258,311 248.00 285.00 254.73 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 13 57,376 215.00 235.00 231.28 185C 1 Loin, sirloin, tri-tip (IM) 7 24,150 235.00 250.00 243.97 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 44,871 895.00 935.00 914.04 191A 4 Loin, butt tender, trimmed 3 4,969 850.00 901.00 879.67 193 4 Flank, flank steak (IM) 3 5,485 475.25 484.99 482.04 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 44,214 88.49 115.00 89.39 121D 4 Plate, Inside Skirt (IM) 36 224,580 338.00 371.00 343.24 121C 4 Plate, Outside Skirt (IM) 8 18,511 550.00 620.00 572.30 121E 6 Outside Skirt, pld (IM) 8 18,120 792.96 876.50 830.97

Cap, Wedge Meat & (IM) Lean 30 86,220 245.00 275.50 252.76

Pectoral Meat 18 85,392 238.79 272.80 247.41 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 27 358,849 139.00 158.00 146.11 Ground Beef 75% Ground Beef 81% 26 314,003 170.95 198.00 178.78 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 17 104,392 222.09 256.82 235.91 Ground Beef Chuck 80% 22 142,322 173.81 198.80 185.94 Ground Beef Round 85% 10 38,310 214.70 230.00 220.14 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% 6 46,997 185.51 199.00 197.39 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 24 737,552 48.50 55.42 50.26 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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