Bloomberg News

USDA Boxed Beef Cutout Closing Prices for November 8

November 08, 2012

November 8 (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: 193.24 175.95 Change from prior day: (0.69) (0.21) ------------------------------------------------------------------------------- Choice/Select spread: 17.28

Total Load Count (Cuts, Trimmings, Grids): 225 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 312.96 246.23 Primal Chuck 155.54 156.47 Primal Round 168.37 162.40 Primal Loin 260.87 219.75 Primal Brisket 136.44 134.81 Primal Short Plate 126.17 129.47 Primal Flank 89.19 85.64 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/07 94 73 11 35 213 193.93 176.16 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.37 175.95 -------------------------------------------------------------------------------- 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 111.55 loads 4,462,185 pounds Select Cuts 76.70 loads 3,068,088 pounds Trimmings 14.51 loads 580,591 pounds Ground Beef 22.24 load 889,442 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 7 5,794 630.00 694.50 655.64 112A 3 Rib, ribeye, bnls, light 7 32,091 728.85 764.00 733.12 112A 3 Rib, ribeye, bnls, heavy 44 103,137 689.50 786.00 721.42 113C 1 Chuck, semi-bnls, neck/off 9 50,843 192.00 230.00 209.81 114 1 Chuck, shoulder clod 19 74,331 187.00 201.00 194.05 114A 3 Chuck, shoulder clod, trmd 48 486,709 193.63 216.99 202.39 114D 3 Chuck, clod, top blade 7 54,598 256.65 280.00 258.70 114E 3 Chuck, clod, arm roast 10 28,151 225.00 269.00 263.98 114F 5 Chuck, clod tender (IM) 6 2,886 310.00 348.50 316.59 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 52 538,647 222.60 260.00 232.90 116B 1 Chuck, chuck tender (IM) 23 112,917 203.45 219.00 207.54

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 35 288,698 198.00 225.54 206.60 120A 3 Brisket, point/off, bnls 8 16,757 358.00 388.50 368.88 123A 3 Short Plate, short rib 25 28,699 330.00 378.50 337.86 130 4 Chuck, short rib 13 20,431 225.00 267.00 246.63 160 1 Round, bone-in 161 1 Round, boneless 5 11,910 211.00 217.00 212.93

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 43 371,206 215.00 250.00 221.23 168 1 Round, top inside round 20 54,555 202.00 220.00 208.69 168 3 Round, top inside round 39 610,876 209.88 239.67 219.64 169 5 Round, top inside, denuded 16 65,973 240.00 263.00 250.31

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 4,955 206.00 220.00 213.08 171B 3 Round, outside round 55 618,256 219.75 248.00 226.80 171C 3 Round, eye of round (IM) 16 64,033 232.92 270.00 251.99 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 14 22,685 485.00 545.00 495.91 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 8 7,718 440.00 469.50 444.50 180 3 Loin, strip, bnls, 0x1 25 82,400 482.00 543.00 503.20 184 1 Loin, top butt, bnls, heavy 9 8,251 309.50 320.00 318.55 184 3 Loin, top butt, boneless 23 83,781 303.00 335.00 310.87 185A 4 Loin, bottom sirloin, flap 17 37,799 340.00 367.00 353.97 185B 1 Loin, ball-tip, bnls, heavy 9 22,573 219.00 245.00 241.59 185C 1 Loin, sirloin, tri-tip (IM) 11 45,893 248.92 270.00 252.79 185D 4 Loin, tri-tip, pld (IM) 8 36,956 341.97 383.00 352.14 189A 4 Loin, tndrloin, trmd, heavy 16 21,612 1043.00 1200.00 1122.38 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 26 81,835 275.00 351.00 317.72 ------------------------------------------------------------------------------- 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 8 45,958 457.00 505.00 466.55 112A 3 Rib, ribeye, bnls, light 3 11,158 500.00 532.17 510.68 112A 3 Rib, ribeye, bnls, heavy 30 57,386 508.00 564.50 525.55 113C 1 Chuck, semi-bnls, neck/off 7 60,010 191.00 210.24 193.32 114 1 Chuck, shoulder clod 25 453,512 183.63 200.00 190.34 114A 3 Chuck, shoulder clod, trmd 33 114,402 193.63 214.00 203.10 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 6,182 260.00 315.00 296.07 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 47 314,124 227.00 264.00 235.61 116B 1 Chuck, chuck tender (IM) 11 50,132 200.00 210.00 204.85

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 14 131,394 199.00 210.00 205.61 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 7,392 310.00 322.75 315.35 130 4 Chuck, short rib 8 10,167 225.00 267.00 257.04 160 1 Round, bone-in 161 1 Round, boneless 5 4,066 207.00 217.00 212.29

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 15 66,993 210.00 235.99 220.60 168 1 Round, top inside round 16 45,024 196.22 209.00 200.32 168 3 Round, top inside round 41 262,793 206.00 236.00 210.32 169 5 Round, top inside, denuded 13 22,210 230.00 250.00 235.93

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 10 15,421 195.00 220.00 207.72 171B 3 Round, outside round 40 323,427 213.00 240.00 221.88 171C 3 Round, eye of round (IM) 30 102,168 211.63 245.00 220.52 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 24 49,466 410.00 445.00 424.92 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 12 31,566 370.00 415.00 379.64 184 1 Loin, top butt, bnls, heavy 8 29,322 259.00 280.00 264.21 184 3 Loin, top butt, boneless 17 19,278 267.00 290.00 275.93 185A 4 Loin, bottom sirloin, flap 15 39,965 325.00 360.00 333.88 185B 1 Loin, ball-tip, bnls, heavy 12 54,283 217.00 248.00 226.32 185C 1 Loin, sirloin, tri-tip (IM) 12 55,824 240.01 262.00 248.04 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 21 120,810 824.00 965.00 856.90 191A 4 Loin, butt tender, trimmed 5 3,548 875.00 875.00 875.00 193 4 Flank, flank steak (IM) 10 52,505 283.00 330.00 289.82 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 12 7,106 100.00 116.00 108.85 121D 4 Plate, Inside Skirt (IM) 17 98,913 302.16 325.00 312.42 121C 4 Plate, Outside Skirt (IM) 18 68,258 449.00 498.00 466.95 121E 6 Outside Skirt, pld (IM) 3 74,930 610.00 615.00 614.07

Cap, Wedge Meat & (IM) Lean 62 346,456 235.00 270.00 247.85

Pectoral Meat 33 80,833 235.00 285.00 258.65 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 30 209,429 144.87 174.06 150.86 Ground Beef 75% Ground Beef 81% 37 170,322 175.00 209.06 185.40 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 7 18,047 247.50 271.50 259.67 Ground Beef Chuck 80% 26 196,164 185.00 205.67 190.43 Ground Beef Round 85% 17 58,480 209.20 222.00 213.62 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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 61,200 191.90 210.30 196.82 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% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 20 557,141 75.00 80.25 78.04 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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