Bloomberg News

USDA Boxed Beef Cutout Closing Prices for November 6

November 06, 2012

November 6 (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: 193.65 176.45 Change from prior day: 0.63 1.16 ------------------------------------------------------------------------------- Choice/Select spread: 17.20

Total Load Count (Cuts, Trimmings, Grids): 169 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 313.51 245.07 Primal Chuck 156.86 156.57 Primal Round 172.26 165.38 Primal Loin 257.03 219.60 Primal Brisket 135.28 133.26 Primal Short Plate 124.78 128.53 Primal Flank 91.08 88.82 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/05 63 68 5 36 172 193.02 175.29 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 194.44 176.33 -------------------------------------------------------------------------------- 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 71.94 loads 2,877,593 pounds Select Cuts 51.57 loads 2,062,662 pounds Trimmings 13.73 loads 549,243 pounds Ground Beef 32.00 load 1,280,059 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 76,195 617.00 680.00 643.20 112A 3 Rib, ribeye, bnls, light 7 7,192 741.00 781.00 750.48 112A 3 Rib, ribeye, bnls, heavy 28 27,107 687.00 765.00 721.92 113C 1 Chuck, semi-bnls, neck/off 5 7,316 210.00 216.50 210.40 114 1 Chuck, shoulder clod 24 136,297 188.00 204.91 197.45 114A 3 Chuck, shoulder clod, trmd 38 196,840 201.34 216.87 208.02 114D 3 Chuck, clod, top blade 11 27,678 245.00 295.00 272.80 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 9 11,118 323.00 380.70 348.71 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 47 216,257 222.60 280.00 243.99 116B 1 Chuck, chuck tender (IM) 22 154,850 205.00 221.00 205.88

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 33 106,941 201.10 230.00 207.64 120A 3 Brisket, point/off, bnls 15 11,166 341.08 376.87 358.75 123A 3 Short Plate, short rib 13 25,046 320.00 365.00 343.19 130 4 Chuck, short rib 18 32,310 231.73 275.00 263.80 160 1 Round, bone-in 9 21,796 201.00 231.00 210.60 161 1 Round, boneless 6 8,667 217.00 237.00 228.57

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 46 245,259 215.00 255.00 224.42 168 1 Round, top inside round 25 83,153 195.00 230.70 211.48 168 3 Round, top inside round 42 376,157 205.00 235.00 217.70 169 5 Round, top inside, denuded 11 23,486 250.00 267.00 257.13

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 6,793 206.26 236.00 215.76 171B 3 Round, outside round 39 145,774 219.75 256.00 240.71 171C 3 Round, eye of round (IM) 25 47,215 242.60 283.00 259.14 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 35,192 483.00 532.00 493.56 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 5 3,191 440.00 471.00 459.17 180 3 Loin, strip, bnls, 0x1 37 102,299 480.00 556.00 512.97 184 1 Loin, top butt, bnls, heavy 6 4,421 310.00 320.00 317.21 184 3 Loin, top butt, boneless 28 205,729 305.00 339.00 309.91 185A 4 Loin, bottom sirloin, flap 22 32,797 345.00 381.00 357.88 185B 1 Loin, ball-tip, bnls, heavy 11 66,333 220.00 250.00 226.88 185C 1 Loin, sirloin, tri-tip (IM) 19 54,298 248.56 283.00 255.40 185D 4 Loin, tri-tip, pld (IM) 8 22,029 354.70 373.00 360.10 189A 4 Loin, tndrloin, trmd, heavy 32 160,395 1089.00 1315.00 1112.94 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 17 21,616 326.00 370.00 342.06 ------------------------------------------------------------------------------- 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 17 89,923 470.00 520.00 484.43 112A 3 Rib, ribeye, bnls, light 8 46,380 500.00 555.00 508.85 112A 3 Rib, ribeye, bnls, heavy 27 87,437 481.90 567.00 498.15 113C 1 Chuck, semi-bnls, neck/off 14 34,938 201.00 225.00 207.52 114 1 Chuck, shoulder clod 9 30,475 195.25 204.04 199.28 114A 3 Chuck, shoulder clod, trmd 23 175,011 196.59 211.24 204.41 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 6,519 255.00 295.67 290.43 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 38 247,675 227.30 265.70 240.13 116B 1 Chuck, chuck tender (IM) 18 27,943 199.20 220.21 208.36

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 14 65,844 193.00 224.80 203.46 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 17,328 315.00 355.00 333.45 130 4 Chuck, short rib 15 28,847 225.00 264.00 251.17 160 1 Round, bone-in 161 1 Round, boneless 7 4,590 210.00 234.25 218.55

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 20 66,306 221.00 248.00 227.35 168 1 Round, top inside round 18 63,785 195.00 210.00 202.00 168 3 Round, top inside round 13 49,390 209.79 220.50 211.92 169 5 Round, top inside, denuded 3 4,785 240.00 250.00 242.60

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 2,727 209.26 218.75 213.46 171B 3 Round, outside round 26 189,032 216.00 255.00 230.67 171C 3 Round, eye of round (IM) 24 114,552 211.00 245.00 220.00 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 14 10,446 420.87 443.75 427.87 175 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 21 40,705 373.00 426.00 387.11 184 1 Loin, top butt, bnls, heavy 3 11,680 255.30 267.00 260.66 184 3 Loin, top butt, boneless 16 64,761 250.00 287.50 255.63 185A 4 Loin, bottom sirloin, flap 11 15,676 337.00 365.00 349.00 185B 1 Loin, ball-tip, bnls, heavy 22 50,487 217.00 247.24 227.63 185C 1 Loin, sirloin, tri-tip (IM) 17 103,200 237.00 264.00 249.79 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 12 24,498 885.90 925.00 898.86 191A 4 Loin, butt tender, trimmed 5 9,131 864.63 874.75 871.76 193 4 Flank, flank steak (IM) 4 3,378 330.00 340.00 335.89 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 4,679 74.00 115.00 100.99 121D 4 Plate, Inside Skirt (IM) 40 116,711 301.00 340.00 306.20 121C 4 Plate, Outside Skirt (IM) 20 39,650 480.50 521.50 494.22 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 52 202,549 239.22 275.00 250.58

Pectoral Meat 18 34,145 255.73 287.00 267.55 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 19 225,017 139.11 172.00 148.56 Ground Beef 75% Ground Beef 81% 44 248,925 172.00 220.50 189.09 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 19 114,469 245.00 274.50 254.19 Ground Beef Chuck 80% 20 247,367 181.80 207.00 188.81 Ground Beef Round 85% 10 15,696 214.00 222.00 217.10 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% 12 78,937 188.73 225.00 202.56 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 25 549,243 70.00 75.00 72.97 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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