Bloomberg News

USDA Boxed Beef Cutout Midday Prices for October 4

October 04, 2012

October 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 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: 191.46 177.99 Change from prior day: 0.76 0.46 ------------------------------------------------------------------------------- Choice/Select spread: 13.48

Total Load Count (Cuts, Trimmings, Grids): 117 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 288.55 242.82 Primal Chuck 165.99 158.20 Primal Round 170.20 166.78 Primal Loin 245.97 220.86 Primal Brisket 134.28 133.64 Primal Short Plate 126.77 132.09 Primal Flank 110.14 102.21 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/03 92 78 20 53 242 190.70 177.53 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.28 177.85 -------------------------------------------------------------------------------- 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 47.27 loads 1,890,809 pounds Select Cuts 46.04 loads 1,841,693 pounds Trimmings 0.00 loads 0 pounds Ground Beef 24.00 load 959,935 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 17 5,602 589.00 622.00 602.82 112A 3 Rib, ribeye, bnls, light 9 38,993 675.00 736.50 681.30 112A 3 Rib, ribeye, bnls, heavy 38 118,294 638.00 705.00 667.82 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 10 37,761 192.00 215.00 198.56 114A 3 Chuck, shoulder clod, trmd 22 145,780 207.88 229.00 213.59 114D 3 Chuck, clod, top blade 6 40,651 264.00 285.00 265.88 114E 3 Chuck, clod, arm roast 5 8,854 247.74 268.00 253.56 114F 5 Chuck, clod tender (IM) 6 20,281 315.00 386.61 319.76 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 17 13,168 285.50 301.60 293.54 116B 1 Chuck, chuck tender (IM) 16 17,717 235.75 261.00 242.64

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 41 291,444 206.88 230.00 209.03 120A 3 Brisket, point/off, bnls 10 16,149 345.00 380.00 356.14 123A 3 Short Plate, short rib 27 27,176 290.00 366.00 327.55 130 4 Chuck, short rib 20 20,079 205.00 245.00 222.04 160 1 Round, bone-in 161 1 Round, boneless 4 6,181 211.00 219.00 215.71

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 45 152,697 235.00 252.00 243.88 168 1 Round, top inside round 22 72,014 197.00 210.00 203.28 168 3 Round, top inside round 10 115,439 207.00 225.00 209.31 169 5 Round, top inside, denuded 4 7,120 241.00 243.00 242.92

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 3,908 206.00 225.64 209.70 171B 3 Round, outside round 17 43,821 230.00 240.00 235.94 171C 3 Round, eye of round (IM) 30 50,073 257.00 275.00 262.59 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 9,334 491.66 518.88 498.07 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 5,886 430.50 465.00 434.82 180 3 Loin, strip, bnls, 0x1 34 67,777 483.00 526.00 505.23 184 1 Loin, top butt, bnls, heavy 8 7,294 285.00 304.00 293.19 184 3 Loin, top butt, boneless 17 45,895 291.00 325.00 307.24 185A 4 Loin, bottom sirloin, flap 28 155,414 322.00 368.00 333.35 185B 1 Loin, ball-tip, bnls, heavy 12 27,021 225.00 240.00 235.23 185C 1 Loin, sirloin, tri-tip (IM) 9 13,879 241.00 280.00 262.78 185D 4 Loin, tri-tip, pld (IM) 14 18,254 342.00 370.00 353.66 189A 4 Loin, tndrloin, trmd, heavy 30 77,420 960.00 1014.00 970.75 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 10 16,672 487.00 545.00 499.04 ------------------------------------------------------------------------------- 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 8 29,930 464.50 510.00 467.82 112A 3 Rib, ribeye, bnls, light 11 125,783 533.59 609.50 539.66 112A 3 Rib, ribeye, bnls, heavy 30 188,706 515.00 585.00 519.17 113C 1 Chuck, semi-bnls, neck/off 6 5,319 206.00 218.00 213.43 114 1 Chuck, shoulder clod 6 92,797 197.94 201.50 198.18 114A 3 Chuck, shoulder clod, trmd 9 85,040 209.00 215.00 211.45 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 8,252 325.00 335.00 326.08 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 154,085 244.84 274.50 257.43 116B 1 Chuck, chuck tender (IM) 6 34,147 230.00 244.29 231.85

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 5 36,374 207.95 210.00 208.09 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 8,016 258.00 306.00 268.93 130 4 Chuck, short rib 5 5,413 203.70 225.00 215.47 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 4 7,337 232.87 240.00 236.49 168 1 Round, top inside round 6 13,085 193.00 208.00 198.61 168 3 Round, top inside round 3 24,282 207.00 213.00 207.74 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 43,339 198.92 220.00 200.44 171B 3 Round, outside round 8 33,275 220.75 235.00 223.96 171C 3 Round, eye of round (IM) 11 39,454 236.00 256.47 243.42 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 6 5,290 420.00 457.00 425.77 175 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 6 13,110 373.00 430.00 391.96 184 1 Loin, top butt, bnls, heavy 8 15,733 246.47 260.00 254.06 184 3 Loin, top butt, boneless 9 131,861 249.50 285.00 260.91 185A 4 Loin, bottom sirloin, flap 5 77,551 333.00 371.00 333.98 185B 1 Loin, ball-tip, bnls, heavy 13 37,066 220.00 243.95 233.29 185C 1 Loin, sirloin, tri-tip (IM) 4 8,756 235.00 276.00 257.66 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 14 76,246 865.00 943.00 895.86 191A 4 Loin, butt tender, trimmed 3 3,449 850.00 879.00 876.04 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 7,683 109.62 120.00 112.05 121D 4 Plate, Inside Skirt (IM) 13 14,284 345.00 370.70 351.27 121C 4 Plate, Outside Skirt (IM) 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 42 486,185 243.00 275.00 250.03

Pectoral Meat 15 88,927 241.14 261.64 249.74 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 26 263,141 141.00 159.00 144.26 Ground Beef 75% Ground Beef 81% 21 213,934 169.00 206.00 176.07 Ground Beef 85% Ground Beef 90% Ground Beef 93% 3 2,303 241.80 253.50 251.70 Ground Beef Chuck 80% 12 126,366 182.17 192.00 186.37 Ground Beef Round 85% 3 9,183 215.00 220.00 218.57 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% 4 24,400 186.60 197.70 193.62 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% -------------------------------------------------------------------------------- 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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