Bloomberg News

USDA Boxed Beef Cutout Closing Prices for December 5

December 05, 2012

December 5 (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: 194.89 174.83 Change from prior day: (0.16) (1.69) ------------------------------------------------------------------------------- Choice/Select spread: 20.06

Total Load Count (Cuts, Trimmings, Grids): 247 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 335.56 259.33 Primal Chuck 154.72 154.29 Primal Round 162.06 161.37 Primal Loin 264.96 210.57 Primal Brisket 133.24 134.84 Primal Short Plate 125.16 129.71 Primal Flank 92.64 91.55 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 12/04 57 58 12 32 159 195.05 176.52 12/03 61 45 6 29 141 195.32 174.59 11/30 66 54 21 26 167 195.03 174.20 11/29 71 62 7 33 173 196.03 174.90 11/28 84 63 8 49 204 195.73 175.73 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.43 175.19 -------------------------------------------------------------------------------- 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 90.49 loads 3,619,479 pounds Select Cuts 61.61 loads 2,464,435 pounds Trimmings 43.49 loads 1,739,540 pounds Ground Beef 51.07 load 2,042,717 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 38 25,656 690.00 801.25 731.34 112A 3 Rib, ribeye, bnls, light 7 9,846 799.00 850.00 834.99 112A 3 Rib, ribeye, bnls, heavy 87 101,366 751.00 843.50 789.36 113C 1 Chuck, semi-bnls, neck/off 7 67,087 203.00 215.00 205.92 114 1 Chuck, shoulder clod 10 25,317 197.00 208.00 199.78 114A 3 Chuck, shoulder clod, trmd 54 135,081 206.90 221.59 212.25 114D 3 Chuck, clod, top blade 12 48,133 263.54 286.00 266.09 114E 3 Chuck, clod, arm roast 13 21,573 240.55 267.14 250.89 114F 5 Chuck, clod tender (IM) 13 17,132 285.00 370.65 307.22 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 98 726,876 219.60 239.00 222.01 116B 1 Chuck, chuck tender (IM) 24 30,123 220.00 234.00 228.26

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 89 178,562 199.75 226.00 206.84 120A 3 Brisket, point/off, bnls 22 33,468 345.00 360.00 350.93 123A 3 Short Plate, short rib 44 51,180 306.25 355.00 341.32 130 4 Chuck, short rib 58 148,581 242.00 281.00 252.00 160 1 Round, bone-in 7 7,726 200.00 210.00 206.68 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 100 322,437 200.00 229.88 207.64 168 1 Round, top inside round 72 121,471 203.00 220.00 211.61 168 3 Round, top inside round 39 351,463 211.90 229.50 218.58 169 5 Round, top inside, denuded 24 42,008 246.00 260.65 257.39

3 Round, top inside, side off 170 1 Round, bottom gooseneck 14 9,437 196.50 220.00 206.73 171B 3 Round, outside round 57 140,051 200.00 229.50 210.57 171C 3 Round, eye of round (IM) 60 110,653 210.75 255.04 238.38 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 30 88,069 470.00 534.50 509.78 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 17 10,049 430.00 477.00 449.80 180 3 Loin, strip, bnls, 0x1 72 125,980 486.00 526.50 499.29 184 1 Loin, top butt, bnls, heavy 23 13,417 305.00 319.00 305.79 184 3 Loin, top butt, boneless 58 166,936 305.00 325.00 309.20 185A 4 Loin, bottom sirloin, flap 56 139,974 347.00 377.50 364.66 185B 1 Loin, ball-tip, bnls, heavy 31 41,544 230.00 240.00 236.04 185C 1 Loin, sirloin, tri-tip (IM) 17 28,148 260.12 285.00 270.81 185D 4 Loin, tri-tip, pld (IM) 22 13,334 354.00 379.00 376.26 189A 4 Loin, tndrloin, trmd, heavy 79 67,105 1187.00 1320.50 1238.74 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 23 15,571 361.50 410.00 380.69 ------------------------------------------------------------------------------- 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 27 45,330 505.00 546.00 529.59 112A 3 Rib, ribeye, bnls, light 14 20,421 555.98 584.00 567.47 112A 3 Rib, ribeye, bnls, heavy 41 77,978 519.00 575.00 544.78 113C 1 Chuck, semi-bnls, neck/off 24 45,365 200.00 225.00 206.80 114 1 Chuck, shoulder clod 11 35,378 195.00 210.00 200.49 114A 3 Chuck, shoulder clod, trmd 25 77,876 206.00 217.98 212.40 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 20 15,980 240.00 310.00 273.75 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 55 534,388 214.63 244.00 218.59 116B 1 Chuck, chuck tender (IM) 26 41,258 216.50 234.00 222.98

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 17 48,649 204.50 219.80 210.69 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 22,025 277.20 326.76 288.02 130 4 Chuck, short rib 26 96,602 242.00 285.00 250.30 160 1 Round, bone-in 161 1 Round, boneless 8 5,937 195.50 222.50 214.73

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 44 98,700 200.00 235.00 207.08 168 1 Round, top inside round 28 84,024 202.75 216.80 210.78 168 3 Round, top inside round 29 71,077 210.00 225.00 218.55 169 5 Round, top inside, denuded 11 20,968 244.00 258.00 247.10

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 35,157 193.97 220.00 197.30 171B 3 Round, outside round 41 105,043 200.00 229.00 207.13 171C 3 Round, eye of round (IM) 30 42,095 221.90 250.00 232.63 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 39 107,594 342.12 428.00 352.05 175 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 33 167,068 374.00 400.00 381.97 184 1 Loin, top butt, bnls, heavy 22 33,621 240.00 260.00 245.68 184 3 Loin, top butt, boneless 43 116,067 253.20 284.00 257.52 185A 4 Loin, bottom sirloin, flap 6 36,517 351.84 375.00 353.95 185B 1 Loin, ball-tip, bnls, heavy 16 20,549 221.74 236.50 227.20 185C 1 Loin, sirloin, tri-tip (IM) 9 2,718 262.00 285.00 268.76 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 48 129,278 799.00 843.58 817.08 191A 4 Loin, butt tender, trimmed 7 17,891 838.00 940.00 841.51 193 4 Flank, flank steak (IM) 9 6,571 361.84 405.00 381.75 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 24,000 83.64 125.15 99.74 121D 4 Plate, Inside Skirt (IM) 23 33,798 315.00 341.00 327.40 121C 4 Plate, Outside Skirt (IM) 30 39,920 445.00 490.00 465.16 121E 6 Outside Skirt, pld (IM) 3 10,533 575.00 675.00 590.38

Cap, Wedge Meat & (IM) Lean 59 137,109 245.00 270.00 253.24

Pectoral Meat 36 50,013 249.55 289.98 263.06 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 115 782,336 127.00 169.00 139.02 Ground Beef 75% Ground Beef 81% 91 394,163 153.75 209.50 173.72 Ground Beef 85% Ground Beef 90% Ground Beef 93% 34 84,044 245.00 259.00 253.41 Ground Beef Chuck 80% 65 326,968 171.80 197.00 181.57 Ground Beef Round 85% 43 147,881 210.00 223.16 216.89 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% 8 59,410 181.00 197.00 194.88 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 34 1,220,840 62.63 79.00 67.33 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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