Bloomberg News

USDA Boxed Beef Cutout Midday Prices for October 3

October 03, 2012

October 3 (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: 190.59 177.55 Change from prior day: 0.10 0.79 ------------------------------------------------------------------------------- Choice/Select spread: 13.05

Total Load Count (Cuts, Trimmings, Grids): 154 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 284.71 243.04 Primal Chuck 165.27 158.27 Primal Round 171.19 166.59 Primal Loin 243.66 218.47 Primal Brisket 133.78 132.52 Primal Short Plate 127.49 132.82 Primal Flank 110.72 104.33 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/02 80 76 23 32 211 190.49 176.76 10/01 84 61 19 27 191 189.19 176.62 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.63 178.65 -------------------------------------------------------------------------------- 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 50.63 loads 2,025,329 pounds Select Cuts 46.78 loads 1,871,117 pounds Trimmings 11.09 loads 443,682 pounds Ground Beef 45.64 load 1,825,469 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 24 47,053 549.00 630.00 576.04 112A 3 Rib, ribeye, bnls, light 7 16,160 675.07 731.00 686.21 112A 3 Rib, ribeye, bnls, heavy 70 79,765 645.00 702.00 679.25 113C 1 Chuck, semi-bnls, neck/off 4 8,778 206.45 223.00 211.92 114 1 Chuck, shoulder clod 13 88,309 193.00 218.00 194.25 114A 3 Chuck, shoulder clod, trmd 19 46,850 212.00 232.00 218.46 114D 3 Chuck, clod, top blade 3 2,491 280.00 282.00 280.78 114E 3 Chuck, clod, arm roast 11 59,839 238.40 259.00 243.70 114F 5 Chuck, clod tender (IM) 14 16,742 325.00 375.00 339.02 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 81,200 289.00 296.00 294.30 116B 1 Chuck, chuck tender (IM) 12 19,981 234.00 254.08 243.98

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 44 75,708 207.00 230.25 216.50 120A 3 Brisket, point/off, bnls 16 15,553 347.00 380.00 363.51 123A 3 Short Plate, short rib 14 16,177 295.00 365.00 330.85 130 4 Chuck, short rib 29 53,200 201.19 246.44 219.22 160 1 Round, bone-in 6 8,654 207.00 224.00 209.85 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 50 135,104 235.00 258.00 243.25 168 1 Round, top inside round 40 118,849 197.00 214.00 200.61 168 3 Round, top inside round 22 155,417 204.00 232.00 209.37 169 5 Round, top inside, denuded 15 19,249 241.00 254.73 243.48

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 1,579 195.00 220.28 212.42 171B 3 Round, outside round 18 139,420 226.00 243.00 237.11 171C 3 Round, eye of round (IM) 28 52,606 245.00 276.25 258.35 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 19 29,340 480.00 518.89 490.90 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 15 11,646 414.00 449.00 432.57 180 3 Loin, strip, bnls, 0x1 36 38,583 480.00 520.32 502.32 184 1 Loin, top butt, bnls, heavy 26 27,864 283.00 317.00 290.64 184 3 Loin, top butt, boneless 36 109,244 297.00 329.00 305.11 185A 4 Loin, bottom sirloin, flap 45 254,466 330.00 365.27 339.90 185B 1 Loin, ball-tip, bnls, heavy 28 51,754 216.01 240.00 226.90 185C 1 Loin, sirloin, tri-tip (IM) 19 80,211 233.51 265.00 241.50 185D 4 Loin, tri-tip, pld (IM) 8 30,353 350.00 355.00 354.43 189A 4 Loin, tndrloin, trmd, heavy 39 29,033 960.00 1028.00 990.54 191A 4 Loin, butt tender, trimmed 3 1,926 995.00 998.81 997.07 193 4 Flank, flank steak (IM) 11 6,475 484.52 545.00 521.65 ------------------------------------------------------------------------------- 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 20 22,815 472.00 501.44 478.68 112A 3 Rib, ribeye, bnls, light 10 67,621 533.20 561.28 534.02 112A 3 Rib, ribeye, bnls, heavy 60 208,328 494.00 565.50 528.98 113C 1 Chuck, semi-bnls, neck/off 12 34,565 198.00 218.25 213.77 114 1 Chuck, shoulder clod 10 21,081 198.00 210.36 202.24 114A 3 Chuck, shoulder clod, trmd 19 119,897 207.00 221.16 211.55 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 12 6,908 325.00 335.81 328.06 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 96,793 248.00 275.00 259.01 116B 1 Chuck, chuck tender (IM) 13 19,750 240.00 250.00 244.53

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 30,497 207.00 227.00 213.91 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 15,549 282.65 315.00 290.13 130 4 Chuck, short rib 10 15,618 196.00 238.00 217.67 160 1 Round, bone-in 161 1 Round, boneless 6 6,642 209.98 224.00 217.84

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 16 38,907 233.60 245.00 236.90 168 1 Round, top inside round 21 71,117 193.00 209.80 197.21 168 3 Round, top inside round 20 208,444 204.00 218.00 210.09 169 5 Round, top inside, denuded 8 13,695 241.00 248.00 242.47

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 35 188,160 216.00 231.89 222.52 171C 3 Round, eye of round (IM) 16 28,311 240.00 261.00 244.60 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 22 40,770 399.58 430.00 420.01 175 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 32 45,653 374.68 410.36 399.20 184 1 Loin, top butt, bnls, heavy 9 10,186 240.45 271.50 251.14 184 3 Loin, top butt, boneless 19 44,120 251.62 270.00 266.20 185A 4 Loin, bottom sirloin, flap 8 27,478 333.19 360.00 335.32 185B 1 Loin, ball-tip, bnls, heavy 23 46,748 213.01 239.10 227.59 185C 1 Loin, sirloin, tri-tip (IM) 13 85,398 224.00 255.00 242.10 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 27 27,389 885.00 985.00 921.65 191A 4 Loin, butt tender, trimmed 6 2,875 850.00 901.44 869.54 193 4 Flank, flank steak (IM) 7 6,482 445.05 490.00 468.01 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 12 28,283 92.00 134.37 116.83 121D 4 Plate, Inside Skirt (IM) 19 45,119 335.58 365.00 345.67 121C 4 Plate, Outside Skirt (IM) 13 13,102 539.52 620.00 570.59 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 42 155,350 243.00 275.00 251.33

Pectoral Meat 20 34,067 240.00 271.00 255.19 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 54 333,853 139.99 162.00 148.30 Ground Beef 75% Ground Beef 81% 89 400,026 179.98 205.00 185.02 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 28 75,720 246.00 270.28 253.16 Ground Beef Chuck 80% 48 216,952 179.73 207.00 190.57 Ground Beef Round 85% 40 118,799 214.00 222.06 218.76 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% 12 353,969 183.41 195.25 188.15 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 18 438,082 50.00 60.84 53.46 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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