Bloomberg News

USDA Boxed Beef Cutout Closing Prices for November 7

November 07, 2012

November 7 (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: 193.93 176.16 Change from prior day: 0.28 (0.29) ------------------------------------------------------------------------------- Choice/Select spread: 17.77

Total Load Count (Cuts, Trimmings, Grids): 213 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 315.76 245.47 Primal Chuck 157.65 157.11 Primal Round 170.23 163.65 Primal Loin 257.41 218.81 Primal Brisket 137.15 134.01 Primal Short Plate 125.85 129.43 Primal Flank 90.75 87.47 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/06 72 52 14 32 169 193.65 176.45 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.54 176.04 -------------------------------------------------------------------------------- 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 93.76 loads 3,750,494 pounds Select Cuts 72.77 loads 2,910,939 pounds Trimmings 10.51 loads 420,569 pounds Ground Beef 35.48 load 1,419,089 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 41 84,739 642.00 675.50 663.39 112A 3 Rib, ribeye, bnls, light 18 16,243 732.00 768.00 754.04 112A 3 Rib, ribeye, bnls, heavy 68 84,634 681.50 776.45 722.89 113C 1 Chuck, semi-bnls, neck/off 9 48,513 207.00 222.00 211.51 114 1 Chuck, shoulder clod 16 68,676 193.00 210.00 202.99 114A 3 Chuck, shoulder clod, trmd 62 146,971 190.00 221.00 206.00 114D 3 Chuck, clod, top blade 10 68,053 250.00 290.00 252.70 114E 3 Chuck, clod, arm roast 9 7,452 234.50 267.50 247.47 114F 5 Chuck, clod tender (IM) 17 26,855 310.00 360.00 324.51 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 107 318,030 231.82 267.00 242.70 116B 1 Chuck, chuck tender (IM) 38 91,982 202.65 217.00 205.84

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 89 166,125 201.00 230.00 213.37 120A 3 Brisket, point/off, bnls 23 13,179 339.00 374.50 361.03 123A 3 Short Plate, short rib 44 65,420 315.00 363.00 336.19 130 4 Chuck, short rib 55 46,999 225.00 276.46 263.57 160 1 Round, bone-in 6 7,789 200.00 219.00 204.09 161 1 Round, boneless 4 1,424 210.01 226.00 215.84

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 98 222,279 216.00 246.49 223.85 168 1 Round, top inside round 87 261,072 195.00 225.00 207.18 168 3 Round, top inside round 36 556,585 210.00 229.50 218.78 169 5 Round, top inside, denuded 24 36,920 246.00 271.00 250.10

3 Round, top inside, side off 170 1 Round, bottom gooseneck 13 29,912 209.50 221.82 215.45 171B 3 Round, outside round 45 207,515 221.63 259.00 233.47 171C 3 Round, eye of round (IM) 47 109,558 235.00 283.30 258.09 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 30 91,996 460.00 536.00 487.22 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 19 17,162 440.00 450.00 445.88 180 3 Loin, strip, bnls, 0x1 111 296,942 480.00 550.36 491.15 184 1 Loin, top butt, bnls, heavy 28 18,046 304.00 322.00 318.88 184 3 Loin, top butt, boneless 56 97,740 295.00 341.00 317.67 185A 4 Loin, bottom sirloin, flap 67 139,820 343.59 379.00 355.09 185B 1 Loin, ball-tip, bnls, heavy 41 34,847 227.00 249.50 241.75 185C 1 Loin, sirloin, tri-tip (IM) 16 50,863 249.05 280.00 257.65 185D 4 Loin, tri-tip, pld (IM) 29 21,560 351.00 370.00 361.76 189A 4 Loin, tndrloin, trmd, heavy 59 54,830 1094.00 1200.00 1132.29 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 24 33,834 313.85 366.00 338.81 ------------------------------------------------------------------------------- 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 20 19,651 455.00 511.27 484.64 112A 3 Rib, ribeye, bnls, light 21 46,164 498.00 580.00 518.44 112A 3 Rib, ribeye, bnls, heavy 55 80,675 497.00 568.00 526.59 113C 1 Chuck, semi-bnls, neck/off 16 31,204 201.75 215.25 208.49 114 1 Chuck, shoulder clod 14 21,163 195.00 210.81 198.25 114A 3 Chuck, shoulder clod, trmd 36 135,279 201.00 214.00 204.46 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 15 10,787 250.00 315.00 302.54 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 58 370,247 223.70 259.00 237.49 116B 1 Chuck, chuck tender (IM) 28 135,403 200.00 211.00 202.62

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 20 84,845 199.00 225.00 206.63 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 4,128 280.00 326.66 286.18 130 4 Chuck, short rib 27 82,898 225.00 265.00 253.92 160 1 Round, bone-in 161 1 Round, boneless 4 5,347 213.00 217.00 215.72

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 38 151,994 215.00 245.58 222.08 168 1 Round, top inside round 56 504,791 189.97 211.66 194.00 168 3 Round, top inside round 25 93,595 204.07 237.00 209.22 169 5 Round, top inside, denuded 18 35,979 233.45 251.00 237.74

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 4,397 194.00 220.00 199.69 171B 3 Round, outside round 36 128,175 211.63 255.00 224.79 171C 3 Round, eye of round (IM) 40 88,956 212.05 242.00 220.57 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 18,956 411.00 438.00 424.21 175 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 31 55,411 375.00 410.30 388.30 184 1 Loin, top butt, bnls, heavy 21 59,905 237.00 265.00 254.56 184 3 Loin, top butt, boneless 29 34,560 262.05 287.65 273.89 185A 4 Loin, bottom sirloin, flap 19 60,134 329.00 360.00 345.79 185B 1 Loin, ball-tip, bnls, heavy 24 49,424 224.74 246.89 236.17 185C 1 Loin, sirloin, tri-tip (IM) 14 32,616 245.00 269.00 250.92 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 37 127,500 834.00 1082.00 871.50 191A 4 Loin, butt tender, trimmed 7 7,903 875.00 942.28 911.17 193 4 Flank, flank steak (IM) 8 31,129 295.00 363.00 315.42 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 13 18,493 74.00 115.25 99.91 121D 4 Plate, Inside Skirt (IM) 28 34,083 301.00 338.00 310.52 121C 4 Plate, Outside Skirt (IM) 18 32,059 450.23 525.00 475.88 121E 6 Outside Skirt, pld (IM) 6 12,551 640.50 700.00 684.27

Cap, Wedge Meat & (IM) Lean 68 300,616 239.00 267.50 246.02

Pectoral Meat 41 58,929 245.00 288.00 261.57 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 93 413,055 140.32 170.89 150.69 Ground Beef 75% Ground Beef 81% 83 360,898 170.00 219.65 188.51 Ground Beef 85% Ground Beef 90% Ground Beef 93% 33 84,832 251.00 278.28 258.18 Ground Beef Chuck 80% 44 168,033 180.00 204.00 192.36 Ground Beef Round 85% 33 165,090 209.00 223.10 219.35 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% 7 21,404 189.30 199.30 193.76 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 18 414,269 71.00 78.00 75.89 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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