Bloomberg News

USDA Boxed Beef Cutout Midday Prices for November 2

November 02, 2012

November 2 (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: 191.80 175.45 Change from prior day: (1.70) (0.85) ------------------------------------------------------------------------------- Choice/Select spread: 16.36

Total Load Count (Cuts, Trimmings, Grids): 121 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 301.28 241.40 Primal Chuck 156.97 156.64 Primal Round 172.96 163.97 Primal Loin 255.81 219.45 Primal Brisket 132.07 131.90 Primal Short Plate 123.42 127.62 Primal Flank 86.84 85.05 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/01 85 69 10 32 196 193.50 176.30 10/31 87 85 8 48 228 194.77 176.65 10/30 44 78 19 22 163 198.17 177.88 10/29 61 48 14 28 151 197.50 179.08 10/26 43 65 0 26 134 196.82 179.70 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 196.15 177.92 -------------------------------------------------------------------------------- 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 42.77 loads 1,710,920 pounds Select Cuts 51.53 loads 2,061,103 pounds Trimmings 0.30 loads 11,900 pounds Ground Beef 26.69 load 1,067,545 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 8 9,226 627.00 652.00 637.04 112A 3 Rib, ribeye, bnls, light 3 1,048 755.00 760.00 758.20 112A 3 Rib, ribeye, bnls, heavy 9 11,572 678.00 728.00 702.18 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 7 9,745 190.39 205.89 197.60 114A 3 Chuck, shoulder clod, trmd 10 66,991 205.00 220.00 206.62 114D 3 Chuck, clod, top blade 3 2,650 275.00 290.00 277.37 114E 3 Chuck, clod, arm roast 5 9,086 245.35 265.00 250.07 114F 5 Chuck, clod tender (IM) 8 5,653 320.00 375.00 349.75 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 301,735 238.00 271.50 246.71 116B 1 Chuck, chuck tender (IM) 16 47,954 201.00 222.00 211.67

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 22 340,009 199.00 227.00 202.99 120A 3 Brisket, point/off, bnls 8 8,573 335.00 380.00 348.96 123A 3 Short Plate, short rib 14 17,312 330.00 371.00 341.10 130 4 Chuck, short rib 10 8,681 184.20 265.00 233.03 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 20 110,806 226.00 253.00 233.37 168 1 Round, top inside round 8 33,168 210.00 225.00 214.13 168 3 Round, top inside round 13 81,308 212.00 235.00 215.99 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 1,713 211.00 225.99 218.40 171B 3 Round, outside round 21 117,149 218.34 265.00 236.58 171C 3 Round, eye of round (IM) 14 27,046 225.50 283.00 245.10 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 8 14,153 475.00 533.00 495.16 175 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 15 98,836 474.21 531.70 479.86 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 7 120,515 300.00 314.86 303.88 185A 4 Loin, bottom sirloin, flap 10 15,466 340.00 371.00 358.09 185B 1 Loin, ball-tip, bnls, heavy 12 20,992 220.00 256.00 229.00 185C 1 Loin, sirloin, tri-tip (IM) 8 9,468 250.00 280.00 261.65 185D 4 Loin, tri-tip, pld (IM) 3 1,217 355.00 360.00 358.87 189A 4 Loin, tndrloin, trmd, heavy 12 53,587 1075.00 1125.00 1090.45 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 11 43,587 295.00 370.00 300.51 ------------------------------------------------------------------------------- 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 3 2,502 469.50 475.00 474.65 112A 3 Rib, ribeye, bnls, light 5 61,952 505.33 544.00 510.17 112A 3 Rib, ribeye, bnls, heavy 14 42,538 469.58 559.66 491.84 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 8 6,345 196.50 215.00 204.47 114A 3 Chuck, shoulder clod, trmd 8 137,100 197.00 215.00 201.04 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 5,810 305.00 325.00 310.66 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 18 30,090 244.50 273.00 252.19 116B 1 Chuck, chuck tender (IM) 3 5,238 212.00 218.00 213.70

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 8 129,813 198.50 220.00 202.33 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 5,728 315.00 356.00 337.40 130 4 Chuck, short rib 7 35,551 184.20 246.00 186.47 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 9 125,812 221.65 243.00 222.13 168 1 Round, top inside round 23 235,846 194.55 221.73 199.01 168 3 Round, top inside round 17 41,657 195.00 222.00 210.51 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 10 102,160 219.00 256.00 225.72 171C 3 Round, eye of round (IM) 12 20,720 217.00 235.00 224.15 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 7 3,428 413.00 445.00 426.03 175 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 9 17,885 370.00 417.00 395.60 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 4 3,088 262.50 280.00 272.69 185A 4 Loin, bottom sirloin, flap 8 29,180 335.00 361.00 342.48 185B 1 Loin, ball-tip, bnls, heavy 6 17,929 215.00 246.89 220.62 185C 1 Loin, sirloin, tri-tip (IM) 5 10,779 245.00 265.00 251.24 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 4 3,501 885.35 943.00 913.34 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 6 39,636 305.00 350.00 307.33 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 13 81,224 71.61 115.00 72.76 121D 4 Plate, Inside Skirt (IM) 50 431,903 297.00 330.00 310.41 121C 4 Plate, Outside Skirt (IM) 11 9,942 477.68 525.00 498.90 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 42 490,062 240.00 267.50 251.17

Pectoral Meat 10 10,709 263.00 277.00 274.44 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 10 169,347 131.19 168.00 146.71 Ground Beef 75% Ground Beef 81% 42 354,907 166.00 214.50 174.04 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 9 91,627 184.20 202.00 188.17 Ground Beef Round 85% 4 5,830 213.00 223.00 218.00 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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% 3 35,369 190.51 206.43 194.79 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 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 -------------------------------------------------------------------------------- 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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