Bloomberg News

USDA Boxed Beef Cutout Closing Prices for November 5

November 05, 2012

November 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 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: 193.02 175.29 Change from prior day: 0.28 (0.25) ------------------------------------------------------------------------------- Choice/Select spread: 17.74

Total Load Count (Cuts, Trimmings, Grids): 172 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 312.76 242.31 Primal Chuck 156.79 155.03 Primal Round 172.77 164.36 Primal Loin 255.63 219.72 Primal Brisket 132.96 132.39 Primal Short Plate 123.69 127.74 Primal Flank 86.63 86.05 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/02 63 65 0 31 160 192.74 175.54 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.33 177.09 -------------------------------------------------------------------------------- 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 62.57 loads 2,502,898 pounds Select Cuts 68.41 loads 2,736,379 pounds Trimmings 5.18 loads 207,300 pounds Ground Beef 35.81 load 1,432,585 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 27 202,338 630.00 677.00 640.64 112A 3 Rib, ribeye, bnls, light 6 7,136 718.34 796.00 772.29 112A 3 Rib, ribeye, bnls, heavy 17 46,502 687.00 765.00 695.76 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 9 29,877 193.00 222.00 202.70 114A 3 Chuck, shoulder clod, trmd 21 76,577 197.00 221.00 210.18 114D 3 Chuck, clod, top blade 13 34,829 256.65 283.00 269.52 114E 3 Chuck, clod, arm roast 10 21,518 248.62 270.00 253.81 114F 5 Chuck, clod tender (IM) 6 3,842 310.00 392.00 361.49 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 216,344 216.00 280.00 233.23 116B 1 Chuck, chuck tender (IM) 23 46,721 203.00 215.01 209.16

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 122,451 199.00 230.00 209.11 120A 3 Brisket, point/off, bnls 10 9,656 337.00 380.10 365.70 123A 3 Short Plate, short rib 22 49,189 310.00 372.00 340.93 130 4 Chuck, short rib 15 13,671 191.00 265.00 252.06 160 1 Round, bone-in 4 13,459 201.00 236.50 217.90 161 1 Round, boneless 3 4,393 218.00 219.00 218.23

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 40 74,021 210.88 242.00 234.38 168 1 Round, top inside round 8 48,298 211.00 222.99 212.37 168 3 Round, top inside round 18 81,935 210.00 235.00 222.36 169 5 Round, top inside, denuded 15 89,432 254.07 260.00 256.72

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 3,394 216.00 220.00 218.43 171B 3 Round, outside round 27 65,675 234.37 275.00 251.94 171C 3 Round, eye of round (IM) 27 45,557 243.92 286.00 259.94 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 19 173,514 503.00 532.00 509.85 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 15 54,873 418.00 470.00 428.64 180 3 Loin, strip, bnls, 0x1 35 134,313 480.00 544.00 503.14 184 1 Loin, top butt, bnls, heavy 4 4,942 311.00 328.90 321.68 184 3 Loin, top butt, boneless 27 180,464 310.00 338.50 317.97 185A 4 Loin, bottom sirloin, flap 20 58,403 347.00 366.00 361.62 185B 1 Loin, ball-tip, bnls, heavy 14 26,605 220.07 245.00 237.55 185C 1 Loin, sirloin, tri-tip (IM) 11 51,382 250.00 280.00 250.72 185D 4 Loin, tri-tip, pld (IM) 10 12,362 355.00 374.00 357.06 189A 4 Loin, tndrloin, trmd, heavy 37 130,162 1077.00 1256.00 1104.37 191A 4 Loin, butt tender, trimmed 3 2,909 1008.51 1071.00 1020.60 193 4 Flank, flank steak (IM) 14 12,353 331.46 366.00 353.73 ------------------------------------------------------------------------------- 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 81,389 462.00 520.00 474.20 112A 3 Rib, ribeye, bnls, light 5 68,890 500.00 539.50 506.54 112A 3 Rib, ribeye, bnls, heavy 14 17,764 508.10 568.99 520.53 113C 1 Chuck, semi-bnls, neck/off 3 16,895 200.98 212.00 201.66 114 1 Chuck, shoulder clod 6 55,693 188.00 215.18 192.88 114A 3 Chuck, shoulder clod, trmd 7 91,080 196.87 223.00 204.52 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 17,177 255.00 280.00 258.47 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 26 273,544 232.55 260.00 241.29 116B 1 Chuck, chuck tender (IM) 8 12,523 209.00 222.00 211.65

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 18 277,013 198.54 225.00 204.90 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 2,706 274.00 320.00 298.39 130 4 Chuck, short rib 5 8,939 225.00 265.00 244.92 160 1 Round, bone-in 0 0 161 1 Round, boneless 3 3,857 206.92 218.00 208.38

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 98,424 219.00 255.00 227.20 168 1 Round, top inside round 8 23,101 199.21 224.05 203.09 168 3 Round, top inside round 13 43,220 200.88 225.00 211.26 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 10 89,824 220.26 250.00 227.27 171C 3 Round, eye of round (IM) 11 33,882 215.00 245.00 227.51 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 14 7,929 408.64 438.00 424.83 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 19 44,713 366.46 415.00 391.42 184 1 Loin, top butt, bnls, heavy 4 18,868 259.00 261.00 260.69 184 3 Loin, top butt, boneless 8 17,201 256.00 285.00 268.48 185A 4 Loin, bottom sirloin, flap 3 17,583 334.50 345.00 344.32 185B 1 Loin, ball-tip, bnls, heavy 12 80,525 213.56 241.00 218.60 185C 1 Loin, sirloin, tri-tip (IM) 6 55,549 245.00 265.00 249.26 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 10 58,027 854.26 932.12 894.48 191A 4 Loin, butt tender, trimmed 9 5,385 872.32 940.00 898.76 193 4 Flank, flank steak (IM) 8 25,687 314.00 362.00 330.03 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 15,980 84.46 115.00 91.53 121D 4 Plate, Inside Skirt (IM) 36 67,011 296.55 340.00 308.58 121C 4 Plate, Outside Skirt (IM) 18 98,586 460.58 514.05 476.39 121E 6 Outside Skirt, pld (IM) 3 8,422 697.20 727.00 713.54

Cap, Wedge Meat & (IM) Lean 100 1,165,371 237.02 268.20 245.45

Pectoral Meat 16 36,689 245.48 286.00 265.00 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 26 578,550 143.15 170.50 147.29 Ground Beef 75% 0 0 Ground Beef 81% 26 273,004 173.50 213.50 179.56 Ground Beef 85% Ground Beef 90% Ground Beef 93% 12 61,637 219.13 258.50 238.13 Ground Beef Chuck 80% 18 141,798 175.19 207.80 186.26 Ground Beef Round 85% 15 30,747 214.00 223.00 219.54 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% 14 105,612 189.51 214.20 197.41 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 7 207,300 70.00 72.00 71.30 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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