Bloomberg News

USDA Boxed Beef Cutout Midday Prices for November 30

November 30, 2012

November 30 (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: 195.75 174.21 Change from prior day: (0.28) (0.69) ------------------------------------------------------------------------------- Choice/Select spread: 21.55

Total Load Count (Cuts, Trimmings, Grids): 82 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 334.68 248.93 Primal Chuck 155.23 157.30 Primal Round 161.76 161.19 Primal Loin 268.54 209.83 Primal Brisket 133.43 131.25 Primal Short Plate 126.82 130.80 Primal Flank 92.48 90.28 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/29 71 62 7 33 173 196.03 174.90 11/28 84 63 8 49 204 195.73 175.73 11/27 87 60 14 34 194 195.34 174.80 11/26 58 30 12 19 119 196.11 174.03 11/23 56 41 6 22 125 196.33 174.17 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.91 174.73 -------------------------------------------------------------------------------- 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 42.25 loads 1,689,913 pounds Select Cuts 14.93 loads 597,292 pounds Trimmings 5.72 loads 228,780 pounds Ground Beef 19.08 load 763,202 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 16 31,921 675.00 783.00 713.52 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 9 21,150 751.00 825.00 778.17 113C 1 Chuck, semi-bnls, neck/off 3 2,710 196.00 215.00 214.53 114 1 Chuck, shoulder clod 7 47,146 198.00 209.89 199.23 114A 3 Chuck, shoulder clod, trmd 12 51,756 209.67 231.00 212.83 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 4,389 328.00 370.47 365.31 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 28 151,840 220.00 250.00 230.04 116B 1 Chuck, chuck tender (IM) 14 33,646 216.39 232.50 229.23

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 19 116,185 199.08 214.50 207.27 120A 3 Brisket, point/off, bnls 6 3,048 354.50 369.50 360.67 123A 3 Short Plate, short rib 4 6,406 340.00 350.00 344.92 130 4 Chuck, short rib 3 6,246 265.50 280.74 277.12 160 1 Round, bone-in 3 3,383 201.50 220.00 202.94 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 27 105,030 210.00 234.50 214.03 168 1 Round, top inside round 10 12,854 205.00 220.00 210.77 168 3 Round, top inside round 11 103,865 211.00 231.50 216.41 169 5 Round, top inside, denuded 9 20,322 240.00 262.00 249.15

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 4,324 195.00 215.99 206.22 171B 3 Round, outside round 31 184,951 200.00 229.50 205.73 171C 3 Round, eye of round (IM) 20 39,712 228.00 255.00 247.60 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 9,919 514.50 550.30 531.28 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 9,145 430.00 435.00 431.71 180 3 Loin, strip, bnls, 0x1 18 94,239 475.00 539.50 482.54 184 1 Loin, top butt, bnls, heavy 17 392,823 294.00 315.88 294.16 184 3 Loin, top butt, boneless 12 44,446 300.00 328.00 318.35 185A 4 Loin, bottom sirloin, flap 12 27,661 354.97 377.50 363.12 185B 1 Loin, ball-tip, bnls, heavy 6 6,966 222.50 240.00 236.44 185C 1 Loin, sirloin, tri-tip (IM) 5 14,682 250.00 280.00 267.47 185D 4 Loin, tri-tip, pld (IM) 3 4,290 371.00 388.00 379.08 189A 4 Loin, tndrloin, trmd, heavy 4 4,544 1169.00 1275.00 1245.68 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 4,695 361.00 400.00 379.52 ------------------------------------------------------------------------------- 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 7 11,530 485.50 546.00 518.04 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 12 21,660 494.00 575.00 524.69 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 5 24,215 196.00 211.64 198.75 114A 3 Chuck, shoulder clod, trmd 7 24,419 212.00 225.00 214.89 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 0 0 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 12 24,208 219.13 240.00 228.67 116B 1 Chuck, chuck tender (IM) 3 1,017 220.00 232.00 229.56

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 10 84,518 195.00 219.50 199.04 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 4,905 325.00 365.00 346.84 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 8 18,553 210.00 225.00 213.59 168 1 Round, top inside round 6 20,174 199.00 213.00 209.03 168 3 Round, top inside round 6 20,035 215.00 225.00 217.96 169 5 Round, top inside, denuded 4 4,372 243.00 260.50 251.24

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 1,050 203.00 220.00 214.30 171B 3 Round, outside round 6 24,589 205.00 224.20 213.26 171C 3 Round, eye of round (IM) 5 16,028 218.00 238.85 235.59 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 4,467 378.50 431.00 394.66 175 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 5,954 370.50 398.75 377.61 184 1 Loin, top butt, bnls, heavy 8 16,600 240.00 260.00 247.18 184 3 Loin, top butt, boneless 10 63,500 250.00 275.00 254.92 185A 4 Loin, bottom sirloin, flap 3 2,293 345.50 362.00 357.86 185B 1 Loin, ball-tip, bnls, heavy 8 53,820 218.00 245.00 221.24 185C 1 Loin, sirloin, tri-tip (IM) 5 32,028 235.00 265.00 259.34 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 7 22,998 790.00 874.65 812.52 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 3 2,538 325.00 346.50 340.43 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 6 3,347 96.89 125.00 113.41 121D 4 Plate, Inside Skirt (IM) 11 13,469 314.00 330.00 325.86 121C 4 Plate, Outside Skirt (IM) 13 26,326 450.00 487.00 461.00 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 20 91,149 246.90 272.00 251.16

Pectoral Meat 8 24,228 257.00 272.00 260.12 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 190,686 140.65 166.00 145.02 Ground Beef 75% Ground Beef 81% 23 124,476 165.00 204.00 176.34 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 4 3,693 245.00 258.50 247.04 Ground Beef Chuck 80% 15 265,449 174.75 212.00 188.34 Ground Beef Round 85% 4 7,723 205.30 230.00 210.38 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% 3 32,451 186.60 195.25 194.89 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% 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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