Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 192.88 174.69 Change from prior day: 0.14 (0.85) ------------------------------------------------------------------------------- Choice/Select spread: 18.19

Total Load Count (Cuts, Trimmings, Grids): 114 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 312.16 238.97 Primal Chuck 156.81 155.09 Primal Round 172.65 164.20 Primal Loin 255.74 218.79 Primal Brisket 132.72 133.72 Primal Short Plate 122.91 127.10 Primal Flank 86.17 85.39 -------------------------------------------------------------------------------- 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 47.60 loads 1,904,173 pounds Select Cuts 42.96 loads 1,718,216 pounds Trimmings 0.00 loads 0 pounds Ground Beef 23.78 load 951,046 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 18 178,342 630.00 646.08 640.41 112A 3 Rib, ribeye, bnls, light 4 2,787 718.34 760.00 735.86 112A 3 Rib, ribeye, bnls, heavy 9 43,755 687.00 765.00 692.74 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 5 13,175 194.00 222.00 207.49 114A 3 Chuck, shoulder clod, trmd 9 29,414 197.00 215.00 210.57 114D 3 Chuck, clod, top blade 5 22,989 256.65 276.00 266.17 114E 3 Chuck, clod, arm roast 6 16,830 248.62 269.82 250.16 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 19 156,313 216.00 280.00 228.87 116B 1 Chuck, chuck tender (IM) 11 25,810 203.00 215.01 208.63

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 8 65,631 206.55 230.00 212.03 120A 3 Brisket, point/off, bnls 4 5,022 337.00 380.10 369.75 123A 3 Short Plate, short rib 11 39,635 310.00 366.00 337.03 130 4 Chuck, short rib 11 9,395 191.00 265.00 253.77 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 28 62,050 210.88 240.23 234.15 168 1 Round, top inside round 4 17,293 211.00 222.99 212.72 168 3 Round, top inside round 9 34,671 210.00 235.00 225.00 169 5 Round, top inside, denuded 11 83,189 254.07 260.00 256.52

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 1,660 220.00 220.00 220.00 171B 3 Round, outside round 9 32,920 248.60 275.00 262.30 171C 3 Round, eye of round (IM) 15 39,818 247.00 263.00 260.30 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 169,226 503.00 527.80 509.66 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 14 51,380 418.00 447.59 425.83 180 3 Loin, strip, bnls, 0x1 23 131,692 480.00 544.00 502.91 184 1 Loin, top butt, bnls, heavy 3 3,599 311.00 320.00 318.99 184 3 Loin, top butt, boneless 23 171,415 310.00 323.00 318.10 185A 4 Loin, bottom sirloin, flap 14 41,868 357.00 365.00 362.46 185B 1 Loin, ball-tip, bnls, heavy 10 23,815 231.00 245.00 238.13 185C 1 Loin, sirloin, tri-tip (IM) 6 40,770 250.00 269.00 250.03 185D 4 Loin, tri-tip, pld (IM) 4 10,509 355.00 360.00 355.23 189A 4 Loin, tndrloin, trmd, heavy 29 65,822 1077.00 1256.00 1110.58 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 8 11,295 331.46 366.00 354.54 ------------------------------------------------------------------------------- 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 112A 3 Rib, ribeye, bnls, light 3 33,798 500.00 536.00 501.60 112A 3 Rib, ribeye, bnls, heavy 5 6,443 508.10 568.99 513.52 113C 1 Chuck, semi-bnls, neck/off 3 16,895 200.98 212.00 201.66 114 1 Chuck, shoulder clod 3 5,240 198.00 215.18 205.58 114A 3 Chuck, shoulder clod, trmd 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 16,892 255.00 280.00 258.52 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 12 199,996 232.55 260.00 239.27 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 5 40,948 206.55 225.00 221.95 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 7 28,055 227.00 240.00 238.82 168 1 Round, top inside round 6 22,250 199.21 224.05 202.82 168 3 Round, top inside round 6 18,253 200.88 218.00 207.10 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 3 42,936 220.26 267.80 223.61 171C 3 Round, eye of round (IM) 5 9,303 215.00 245.00 232.70 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 4 3,761 413.56 433.00 419.79 175 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 10 30,421 366.46 405.00 390.38 184 1 Loin, top butt, bnls, heavy 3 3,300 259.00 261.00 259.23 184 3 Loin, top butt, boneless 4 15,292 260.00 280.00 268.49 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 10 73,727 213.56 237.00 218.47 185C 1 Loin, sirloin, tri-tip (IM) 3 19,044 245.00 265.00 249.99 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 5 42,558 854.26 917.00 883.24 191A 4 Loin, butt tender, trimmed 3 1,110 902.00 940.00 916.48 193 4 Flank, flank steak (IM) 6 21,221 314.00 362.00 326.71 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 15,908 84.46 115.00 91.49 121D 4 Plate, Inside Skirt (IM) 21 42,445 296.55 340.00 309.77 121C 4 Plate, Outside Skirt (IM) 13 80,352 460.58 514.05 471.22 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 74 1,042,613 237.02 266.05 244.86

Pectoral Meat 9 21,052 253.98 286.00 264.62 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 18 340,151 143.15 170.50 148.51 Ground Beef 75% Ground Beef 81% 21 189,445 173.50 213.50 177.84 Ground Beef 85% Ground Beef 90% Ground Beef 93% 10 50,395 219.13 258.50 236.67 Ground Beef Chuck 80% 12 122,129 175.19 207.80 185.40 Ground Beef Round 85% 11 26,370 215.00 223.00 219.32 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% 9 93,895 189.51 214.20 197.36 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 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 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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