Bloomberg News

USDA Boxed Beef Cutout Closing Prices for January 10

January 10, 2013

January 10 (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: 193.81 183.96 Change from prior day: 0.26 0.43 ------------------------------------------------------------------------------- Choice/Select spread: 9.85

Total Load Count (Cuts, Trimmings, Grids): 169 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 272.11 250.25 Primal Chuck 166.13 165.77 Primal Round 175.17 174.03 Primal Loin 259.65 225.76 Primal Brisket 134.71 135.63 Primal Short Plate 130.82 135.50 Primal Flank 105.26 99.00 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 01/09 127 83 7 49 266 193.55 183.53 01/08 92 82 14 30 218 193.98 183.31 01/07 97 57 21 32 207 193.49 182.60 01/04 94 50 21 31 196 194.26 182.22 01/03 107 62 20 22 211 194.91 183.28 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 194.04 182.99 -------------------------------------------------------------------------------- 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 53.18 loads 2,127,154 pounds Select Cuts 46.58 loads 1,863,040 pounds Trimmings 26.39 loads 1,055,484 pounds Ground Beef 43.32 load 1,732,795 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 13 25,897 522.00 561.00 539.17 112A 3 Rib, ribeye, bnls, light 10 38,829 584.88 610.00 595.75 112A 3 Rib, ribeye, bnls, heavy 38 103,242 561.00 609.70 582.95 113C 1 Chuck, semi-bnls, neck/off 6 15,196 209.00 215.00 213.73 114 1 Chuck, shoulder clod 15 27,361 205.00 215.50 208.01 114A 3 Chuck, shoulder clod, trmd 18 111,380 216.77 230.00 219.29 114D 3 Chuck, clod, top blade 6 9,132 271.41 290.00 285.23 114E 3 Chuck, clod, arm roast 9 13,744 260.00 285.00 275.47 114F 5 Chuck, clod tender (IM) 6 2,550 290.00 329.25 303.22 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 42 178,971 240.00 255.00 246.08 116B 1 Chuck, chuck tender (IM) 16 29,542 227.30 250.00 240.88

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 34 152,139 200.21 218.00 206.51 120A 3 Brisket, point/off, bnls 11 15,185 355.60 377.00 358.96 123A 3 Short Plate, short rib 19 43,456 345.00 398.50 372.30 130 4 Chuck, short rib 22 64,505 260.00 334.00 302.81 160 1 Round, bone-in 3 17,141 203.00 220.00 208.26 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 40 124,752 234.98 248.00 240.76 168 1 Round, top inside round 18 61,459 218.00 228.00 220.01 168 3 Round, top inside round 24 238,866 221.00 235.50 226.20 169 5 Round, top inside, denuded 17 21,282 242.21 278.00 259.85

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 3,808 207.00 217.00 209.28 171B 3 Round, outside round 29 146,953 225.00 245.62 229.47 171C 3 Round, eye of round (IM) 21 41,895 252.10 263.00 257.67 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 69,630 508.97 554.50 513.12 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 3 3,336 445.00 455.00 447.17 180 3 Loin, strip, bnls, 0x1 29 96,036 504.00 538.00 514.43 184 1 Loin, top butt, bnls, heavy 7 4,635 332.00 340.00 336.13 184 3 Loin, top butt, boneless 15 27,352 332.60 361.60 340.25 185A 4 Loin, bottom sirloin, flap 23 45,473 374.18 411.40 388.46 185B 1 Loin, ball-tip, bnls, heavy 17 40,084 227.88 245.00 235.04 185C 1 Loin, sirloin, tri-tip (IM) 9 20,158 304.18 335.00 323.71 185D 4 Loin, tri-tip, pld (IM) 3 8,086 420.00 435.62 427.52 189A 4 Loin, tndrloin, trmd, heavy 32 66,510 949.00 1111.00 1010.78 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 13 18,012 410.00 460.00 433.68 ------------------------------------------------------------------------------- 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 9 22,828 449.00 500.00 477.92 112A 3 Rib, ribeye, bnls, light 22 114,011 510.00 550.00 534.00 112A 3 Rib, ribeye, bnls, heavy 28 98,423 499.00 545.00 515.80 113C 1 Chuck, semi-bnls, neck/off 4 8,235 213.00 216.00 214.14 114 1 Chuck, shoulder clod 10 38,988 205.00 220.00 207.37 114A 3 Chuck, shoulder clod, trmd 10 75,820 216.00 227.00 221.44 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 32,077 276.00 289.00 279.41 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 54,676 235.30 263.00 243.79 116B 1 Chuck, chuck tender (IM) 7 8,673 235.00 250.09 241.23

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 17 73,411 194.00 220.33 207.06 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 21,380 277.34 365.00 302.45 130 4 Chuck, short rib 11 37,268 260.00 285.50 267.38 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 11 40,444 229.98 245.00 238.79 168 1 Round, top inside round 6 26,506 212.00 227.00 216.00 168 3 Round, top inside round 12 107,595 222.50 238.00 225.75 169 5 Round, top inside, denuded 4 5,996 254.10 261.00 255.55

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 8 68,960 198.00 230.00 201.98 171B 3 Round, outside round 13 26,446 224.14 238.00 228.03 171C 3 Round, eye of round (IM) 25 54,967 235.00 258.40 246.65 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 15 39,469 410.00 438.00 414.37 175 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 27 274,819 400.00 437.00 412.69 184 1 Loin, top butt, bnls, heavy 10 99,212 263.00 276.00 263.52 184 3 Loin, top butt, boneless 16 17,593 275.00 300.00 287.85 185A 4 Loin, bottom sirloin, flap 4 5,045 364.54 395.00 377.62 185B 1 Loin, ball-tip, bnls, heavy 14 131,838 223.00 240.00 230.49 185C 1 Loin, sirloin, tri-tip (IM) 6 10,127 270.00 306.00 275.05 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 9 24,704 835.00 874.22 846.62 191A 4 Loin, butt tender, trimmed 3 7,749 792.37 835.00 829.95 193 4 Flank, flank steak (IM) 9 30,037 379.79 424.22 387.36 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 20 16,736 90.00 125.00 111.09 121D 4 Plate, Inside Skirt (IM) 26 99,692 345.11 376.00 350.92 121C 4 Plate, Outside Skirt (IM) 22 51,701 454.00 491.00 461.48 121E 6 Outside Skirt, pld (IM) 3 5,642 545.50 591.70 570.46

Cap, Wedge Meat & (IM) Lean 37 115,051 254.00 269.00 260.71

Pectoral Meat 20 40,481 255.09 271.46 265.95 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 34 340,729 150.40 186.54 160.27 Ground Beef 75% Ground Beef 81% 26 204,238 174.00 219.00 208.82 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 13 179,266 255.90 283.50 265.55 Ground Beef Chuck 80% 15 132,737 200.32 227.00 220.70 Ground Beef Round 85% 9 148,007 223.00 246.00 227.57 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% 10 41,009 199.76 235.60 210.28 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 23 695,544 72.00 78.00 73.38 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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