Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 193.95 175.89 Change from prior day: 0.30 (0.56) ------------------------------------------------------------------------------- Choice/Select spread: 18.06

Total Load Count (Cuts, Trimmings, Grids): 124 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 315.79 245.98 Primal Chuck 157.92 156.54 Primal Round 170.82 164.55 Primal Loin 256.60 217.11 Primal Brisket 136.92 134.26 Primal Short Plate 125.58 129.21 Primal Flank 91.06 87.64 -------------------------------------------------------------------------------- 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 48.45 loads 1,937,972 pounds Select Cuts 40.46 loads 1,618,491 pounds Trimmings 7.07 loads 282,783 pounds Ground Beef 28.50 load 1,139,969 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 19 20,101 642.00 685.00 658.93 112A 3 Rib, ribeye, bnls, light 14 11,510 732.00 768.00 751.11 112A 3 Rib, ribeye, bnls, heavy 13 13,420 720.70 755.00 732.13 113C 1 Chuck, semi-bnls, neck/off 7 44,792 210.00 222.00 211.51 114 1 Chuck, shoulder clod 11 66,817 193.00 205.89 202.95 114A 3 Chuck, shoulder clod, trmd 27 57,561 190.00 221.00 208.98 114D 3 Chuck, clod, top blade 7 64,487 250.00 290.00 251.01 114E 3 Chuck, clod, arm roast 6 4,769 234.50 267.50 243.64 114F 5 Chuck, clod tender (IM) 15 26,675 314.25 360.00 324.50 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 82,170 231.82 258.50 243.57 116B 1 Chuck, chuck tender (IM) 17 70,036 202.65 212.50 204.61

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 29 90,457 201.00 230.00 214.58 120A 3 Brisket, point/off, bnls 16 7,232 339.00 365.00 359.02 123A 3 Short Plate, short rib 15 38,155 330.00 363.00 340.37 130 4 Chuck, short rib 15 30,145 225.00 275.00 263.77 160 1 Round, bone-in 4 3,332 200.00 219.00 208.22 161 1 Round, boneless 3 1,301 210.01 217.00 214.88

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 45 99,299 218.00 246.49 224.03 168 1 Round, top inside round 37 126,636 195.00 225.00 205.46 168 3 Round, top inside round 25 382,654 210.50 228.00 218.55 169 5 Round, top inside, denuded 17 32,976 246.00 268.00 249.59

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 26,433 215.00 221.82 215.75 171B 3 Round, outside round 27 98,154 230.00 255.00 237.69 171C 3 Round, eye of round (IM) 20 75,026 245.00 275.00 259.64 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 26 83,109 460.00 536.00 486.66 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 15 10,767 440.00 445.00 443.86 180 3 Loin, strip, bnls, 0x1 34 38,701 503.10 546.00 512.29 184 1 Loin, top butt, bnls, heavy 14 12,309 308.47 320.00 319.55 184 3 Loin, top butt, boneless 20 38,018 295.00 341.00 320.26 185A 4 Loin, bottom sirloin, flap 20 64,692 344.05 366.00 353.54 185B 1 Loin, ball-tip, bnls, heavy 22 21,360 245.00 249.50 245.12 185C 1 Loin, sirloin, tri-tip (IM) 9 19,947 249.05 270.00 251.49 185D 4 Loin, tri-tip, pld (IM) 5 8,135 351.00 368.45 356.67 189A 4 Loin, tndrloin, trmd, heavy 18 16,468 1113.00 1200.00 1147.41 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 16 15,025 335.12 363.00 344.76 ------------------------------------------------------------------------------- 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 13,229 455.00 511.27 481.67 112A 3 Rib, ribeye, bnls, light 17 34,019 498.00 580.00 522.63 112A 3 Rib, ribeye, bnls, heavy 34 48,826 500.14 568.00 533.81 113C 1 Chuck, semi-bnls, neck/off 16 31,204 201.75 215.25 208.49 114 1 Chuck, shoulder clod 8 15,636 195.00 204.52 196.68 114A 3 Chuck, shoulder clod, trmd 28 76,935 201.00 214.00 204.73 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 4,281 250.00 315.00 304.45 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 144,039 223.70 259.00 242.02 116B 1 Chuck, chuck tender (IM) 24 128,076 200.00 210.00 202.22

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 37,974 199.00 224.70 209.95 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 10 12,445 225.00 265.00 253.50 160 1 Round, bone-in 161 1 Round, boneless 3 4,789 213.00 217.00 215.57

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 25 33,243 215.00 240.65 230.73 168 1 Round, top inside round 37 346,330 189.97 209.00 193.20 168 3 Round, top inside round 15 69,861 204.07 237.00 209.00 169 5 Round, top inside, denuded 15 34,296 233.45 251.00 237.41

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 23 49,525 213.00 241.00 227.54 171C 3 Round, eye of round (IM) 22 40,092 212.05 233.16 221.31 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 22 18,262 411.00 438.00 424.71 175 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 24 48,926 375.00 410.30 387.73 184 1 Loin, top butt, bnls, heavy 17 45,154 237.00 265.00 252.66 184 3 Loin, top butt, boneless 26 31,916 262.05 287.65 273.66 185A 4 Loin, bottom sirloin, flap 11 6,070 311.12 349.00 343.49 185B 1 Loin, ball-tip, bnls, heavy 16 15,062 230.36 246.89 236.66 185C 1 Loin, sirloin, tri-tip (IM) 10 25,304 232.00 269.00 243.43 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 22 105,107 834.00 965.00 850.18 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 6 21,212 295.00 363.00 317.03 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 4,597 74.00 115.25 97.05 121D 4 Plate, Inside Skirt (IM) 18 14,160 301.00 325.00 312.99 121C 4 Plate, Outside Skirt (IM) 10 24,225 450.23 480.41 466.96 121E 6 Outside Skirt, pld (IM) 3 5,240 653.70 690.00 681.41

Cap, Wedge Meat & (IM) Lean 49 123,474 245.00 267.50 249.90

Pectoral Meat 31 51,579 245.00 288.00 261.33 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 72 311,257 140.32 170.89 151.35 Ground Beef 75% Ground Beef 81% 66 308,649 180.04 214.28 187.92 Ground Beef 85% Ground Beef 90% Ground Beef 93% 31 82,895 251.00 278.28 258.17 Ground Beef Chuck 80% 36 127,068 180.00 204.00 192.02 Ground Beef Round 85% 28 145,846 210.92 223.10 220.13 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% 0 0 Blended Ground Beef 81% Blended Ground Beef 85% Blended Ground Beef 90% 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 10 279,283 71.00 78.00 75.14 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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