Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 193.96 177.23 Change from prior day: 0.94 1.94 ------------------------------------------------------------------------------- Choice/Select spread: 16.74

Total Load Count (Cuts, Trimmings, Grids): 94 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 313.49 248.06 Primal Chuck 156.84 157.08 Primal Round 172.51 165.93 Primal Loin 258.29 220.55 Primal Brisket 135.78 133.14 Primal Short Plate 124.39 128.23 Primal Flank 90.85 88.54 -------------------------------------------------------------------------------- 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 40.46 loads 1,618,390 pounds Select Cuts 28.07 loads 1,122,743 pounds Trimmings 4.12 loads 164,693 pounds Ground Beef 21.79 load 871,602 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 51,931 629.00 680.00 644.93 112A 3 Rib, ribeye, bnls, light 5 4,866 741.00 781.00 749.86 112A 3 Rib, ribeye, bnls, heavy 19 12,966 687.00 765.00 718.34 113C 1 Chuck, semi-bnls, neck/off 5 7,316 210.00 216.50 210.40 114 1 Chuck, shoulder clod 16 86,277 197.00 204.91 201.15 114A 3 Chuck, shoulder clod, trmd 25 138,404 201.34 216.87 207.58 114D 3 Chuck, clod, top blade 7 23,100 245.00 275.00 271.06 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 26 124,575 229.00 280.00 245.16 116B 1 Chuck, chuck tender (IM) 14 128,426 205.00 221.00 205.54

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 20 53,690 201.10 230.00 210.82 120A 3 Brisket, point/off, bnls 11 8,209 342.00 376.87 359.98 123A 3 Short Plate, short rib 9 17,692 335.00 365.00 345.13 130 4 Chuck, short rib 12 24,912 231.73 275.00 265.87 160 1 Round, bone-in 8 18,930 206.50 231.00 212.06 161 1 Round, boneless 3 2,652 217.75 237.00 222.95

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 25 181,354 215.00 250.87 220.99 168 1 Round, top inside round 18 64,671 195.00 230.70 210.31 168 3 Round, top inside round 16 103,138 212.00 235.00 218.30 169 5 Round, top inside, denuded 5 3,435 252.00 267.00 263.94

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 5,293 215.00 236.00 216.73 171B 3 Round, outside round 25 111,532 221.00 255.00 241.06 171C 3 Round, eye of round (IM) 17 33,056 245.00 283.00 261.78 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 12 11,907 483.00 532.00 498.45 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 3 2,017 449.00 471.00 460.29 180 3 Loin, strip, bnls, 0x1 22 46,808 480.00 542.25 505.16 184 1 Loin, top butt, bnls, heavy 3 3,900 310.00 320.00 317.03 184 3 Loin, top butt, boneless 17 89,660 305.00 339.00 311.57 185A 4 Loin, bottom sirloin, flap 13 15,822 350.00 381.00 356.10 185B 1 Loin, ball-tip, bnls, heavy 9 59,203 220.00 245.00 225.06 185C 1 Loin, sirloin, tri-tip (IM) 10 6,772 250.00 275.00 260.01 185D 4 Loin, tri-tip, pld (IM) 7 3,733 354.70 373.00 360.60 189A 4 Loin, tndrloin, trmd, heavy 16 57,764 1095.00 1150.00 1105.08 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 15 19,570 326.00 370.00 342.12 ------------------------------------------------------------------------------- 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 11 45,121 474.00 520.00 490.46 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 11 10,249 499.89 567.00 532.28 113C 1 Chuck, semi-bnls, neck/off 12 31,681 202.00 217.75 208.09 114 1 Chuck, shoulder clod 7 27,218 195.25 204.04 199.49 114A 3 Chuck, shoulder clod, trmd 14 112,470 196.59 211.24 204.50 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 28 126,952 229.00 265.70 242.67 116B 1 Chuck, chuck tender (IM) 8 9,806 199.20 213.75 208.32

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 6 44,733 199.04 224.80 203.29 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 8 18,664 248.00 260.00 250.89 160 1 Round, bone-in 161 1 Round, boneless 4 2,483 216.75 234.25 219.84

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 8 20,509 221.00 248.00 225.06 168 1 Round, top inside round 14 40,517 195.00 210.00 204.30 168 3 Round, top inside round 7 16,624 209.79 220.50 213.41 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 17 124,632 218.00 255.00 232.22 171C 3 Round, eye of round (IM) 17 49,736 215.00 245.00 225.90 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 5,619 420.87 443.75 429.63 175 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 7 9,051 390.45 410.00 396.62 184 1 Loin, top butt, bnls, heavy 3 11,680 255.30 267.00 260.66 184 3 Loin, top butt, boneless 11 17,823 256.00 287.50 264.74 185A 4 Loin, bottom sirloin, flap 8 10,684 337.73 358.00 351.18 185B 1 Loin, ball-tip, bnls, heavy 18 44,695 217.00 247.24 227.10 185C 1 Loin, sirloin, tri-tip (IM) 10 35,088 240.00 271.50 256.12 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 10 16,529 889.75 925.00 904.87 191A 4 Loin, butt tender, trimmed 4 7,695 873.00 874.75 873.09 193 4 Flank, flank steak (IM) 3 2,823 330.00 340.00 337.05 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 3,771 74.00 115.00 101.22 121D 4 Plate, Inside Skirt (IM) 19 45,667 301.00 340.00 307.43 121C 4 Plate, Outside Skirt (IM) 12 21,933 490.00 516.00 495.02 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 32 140,414 239.22 270.00 247.87

Pectoral Meat 12 24,494 255.73 285.00 266.81 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 11 115,346 139.11 172.00 146.64 Ground Beef 75% Ground Beef 81% 26 161,627 175.00 219.25 193.09 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 16 112,765 245.00 273.50 254.15 Ground Beef Chuck 80% 16 221,836 181.80 207.00 188.18 Ground Beef Round 85% 6 9,522 214.00 216.13 214.69 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% 8 40,297 188.73 225.00 206.80 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 6 164,693 70.00 74.00 71.72 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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