Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 193.76 175.68 Change from prior day: (0.17) (0.48) ------------------------------------------------------------------------------- Choice/Select spread: 18.08

Total Load Count (Cuts, Trimmings, Grids): 123 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 313.55 245.17 Primal Chuck 157.19 157.00 Primal Round 168.51 162.10 Primal Loin 260.62 218.87 Primal Brisket 136.94 134.42 Primal Short Plate 125.52 129.10 Primal Flank 89.49 85.41 -------------------------------------------------------------------------------- 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 64.00 loads 2,559,892 pounds Select Cuts 43.60 loads 1,743,962 pounds Trimmings 0.48 loads 19,250 pounds Ground Beef 14.87 load 594,636 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 4 1,678 630.00 652.00 650.47 112A 3 Rib, ribeye, bnls, light 5 17,626 730.00 760.00 732.34 112A 3 Rib, ribeye, bnls, heavy 35 65,581 689.50 786.00 723.84 113C 1 Chuck, semi-bnls, neck/off 5 17,913 197.00 230.00 206.49 114 1 Chuck, shoulder clod 11 42,407 193.00 201.00 196.88 114A 3 Chuck, shoulder clod, trmd 21 121,647 200.00 228.11 203.05 114D 3 Chuck, clod, top blade 3 11,763 264.76 280.00 265.66 114E 3 Chuck, clod, arm roast 3 8,621 260.00 269.00 266.67 114F 5 Chuck, clod tender (IM) 4 1,502 315.00 348.50 318.63 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 26 164,903 226.00 260.00 236.47 116B 1 Chuck, chuck tender (IM) 14 71,312 203.45 214.88 205.51

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 120,549 198.00 225.54 207.12 120A 3 Brisket, point/off, bnls 4 6,076 360.00 388.50 376.20 123A 3 Short Plate, short rib 23 26,322 330.00 378.50 338.35 130 4 Chuck, short rib 10 16,893 225.00 267.00 244.20 160 1 Round, bone-in 161 1 Round, boneless 3 2,112 211.00 216.00 212.48

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 33 296,899 215.00 242.00 221.52 168 1 Round, top inside round 13 29,307 202.00 220.00 208.97 168 3 Round, top inside round 25 522,993 209.88 225.25 219.86 169 5 Round, top inside, denuded 12 49,143 245.00 258.00 252.68

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 38 455,035 221.00 248.00 225.85 171C 3 Round, eye of round (IM) 9 18,714 232.92 270.00 256.78 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 11 12,391 485.00 545.00 502.78 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 7 6,152 440.00 469.50 445.64 180 3 Loin, strip, bnls, 0x1 20 29,507 482.00 542.00 516.44 184 1 Loin, top butt, bnls, heavy 8 7,429 309.50 320.00 318.39 184 3 Loin, top butt, boneless 12 21,331 310.00 335.00 325.52 185A 4 Loin, bottom sirloin, flap 14 31,607 340.00 367.00 354.77 185B 1 Loin, ball-tip, bnls, heavy 5 5,379 220.00 245.00 243.87 185C 1 Loin, sirloin, tri-tip (IM) 10 28,147 249.16 270.00 255.23 185D 4 Loin, tri-tip, pld (IM) 7 36,718 341.97 381.00 351.94 189A 4 Loin, tndrloin, trmd, heavy 14 21,318 1043.00 1200.00 1121.42 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 11 18,599 275.00 351.00 317.94 ------------------------------------------------------------------------------- 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 4 4,862 460.50 505.00 466.56 112A 3 Rib, ribeye, bnls, light 3 11,158 500.00 532.17 510.68 112A 3 Rib, ribeye, bnls, heavy 21 46,289 508.00 564.50 523.21 113C 1 Chuck, semi-bnls, neck/off 6 58,696 191.00 210.24 192.95 114 1 Chuck, shoulder clod 16 304,191 189.00 200.00 191.01 114A 3 Chuck, shoulder clod, trmd 19 71,126 199.02 214.00 203.23 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 5,706 260.00 315.00 294.49 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 23 113,710 233.14 250.54 236.54 116B 1 Chuck, chuck tender (IM) 8 47,628 200.00 210.00 204.62

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 12 129,982 199.00 210.00 205.62 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 5 4,256 225.00 267.00 247.71 160 1 Round, bone-in 161 1 Round, boneless 4 3,571 207.00 217.00 211.64

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 9 24,878 210.00 230.00 221.23 168 1 Round, top inside round 9 23,777 196.22 201.14 198.93 168 3 Round, top inside round 22 88,808 206.50 217.00 209.56 169 5 Round, top inside, denuded 8 10,610 237.00 250.00 239.07

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 11,723 195.00 220.00 206.97 171B 3 Round, outside round 22 157,353 213.00 235.00 218.25 171C 3 Round, eye of round (IM) 17 50,128 214.68 245.00 221.08 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 12 10,895 410.00 445.00 422.81 175 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 7 22,885 370.00 415.00 372.00 184 1 Loin, top butt, bnls, heavy 5 26,415 260.00 265.00 262.93 184 3 Loin, top butt, boneless 11 14,332 267.00 281.10 276.05 185A 4 Loin, bottom sirloin, flap 10 21,747 325.00 360.00 335.31 185B 1 Loin, ball-tip, bnls, heavy 7 17,109 217.00 248.00 228.62 185C 1 Loin, sirloin, tri-tip (IM) 4 13,914 240.01 262.00 243.51 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 18 115,782 824.00 920.54 855.93 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 18,930 283.00 329.88 283.27 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 5,114 109.00 116.00 112.12 121D 4 Plate, Inside Skirt (IM) 15 96,754 302.16 325.00 312.34 121C 4 Plate, Outside Skirt (IM) 13 46,240 459.00 498.00 474.07 121E 6 Outside Skirt, pld (IM) 3 74,930 610.00 615.00 614.07

Cap, Wedge Meat & (IM) Lean 29 116,908 235.00 268.00 251.52

Pectoral Meat 24 64,062 235.00 277.00 256.18 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 22 158,634 144.87 156.10 150.19 Ground Beef 75% Ground Beef 81% 30 148,606 175.00 192.00 184.09 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 4 1,840 247.50 258.50 256.38 Ground Beef Chuck 80% 20 99,072 185.00 205.67 192.82 Ground Beef Round 85% 16 49,433 209.20 222.00 213.92 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% 5 30,000 193.63 210.30 197.97 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% 0 0 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 0 0 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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