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USDA Boxed Beef Cutout Closing Prices for January 14

January 14, 2013

January 14 (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: 194.09 184.76 Change from prior day: (0.15) 1.27 ------------------------------------------------------------------------------- Choice/Select spread: 9.33

Total Load Count (Cuts, Trimmings, Grids): 170 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.83 252.38 Primal Chuck 166.08 165.78 Primal Round 176.22 173.85 Primal Loin 260.03 228.29 Primal Brisket 136.25 133.52 Primal Short Plate 130.99 135.81 Primal Flank 102.98 103.11 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 01/11 82 31 19 25 157 194.24 183.49 01/10 53 47 26 43 169 193.81 183.96 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.81 183.38 -------------------------------------------------------------------------------- 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 84.07 loads 3,362,858 pounds Select Cuts 40.78 loads 1,631,014 pounds Trimmings 21.79 loads 871,523 pounds Ground Beef 23.75 load 950,168 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 31 103,737 517.88 567.00 540.66 112A 3 Rib, ribeye, bnls, light 14 42,294 585.00 630.00 593.23 112A 3 Rib, ribeye, bnls, heavy 57 321,510 562.00 620.00 585.77 113C 1 Chuck, semi-bnls, neck/off 3 3,601 215.00 216.00 215.96 114 1 Chuck, shoulder clod 10 35,238 202.00 213.00 207.48 114A 3 Chuck, shoulder clod, trmd 33 259,719 213.00 228.00 218.11 114D 3 Chuck, clod, top blade 12 45,217 277.00 301.00 281.98 114E 3 Chuck, clod, arm roast 13 31,986 250.06 278.00 258.46 114F 5 Chuck, clod tender (IM) 9 8,935 290.00 330.00 302.31 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 45 256,853 232.60 258.88 244.35 116B 1 Chuck, chuck tender (IM) 22 107,610 223.55 251.00 227.71

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 32 157,571 201.00 220.00 209.33 120A 3 Brisket, point/off, bnls 8 15,449 348.00 376.00 354.05 123A 3 Short Plate, short rib 27 95,983 323.40 403.00 350.06 130 4 Chuck, short rib 23 32,892 240.00 299.71 265.70 160 1 Round, bone-in 4 4,054 204.00 213.00 204.86 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 54 233,650 233.00 254.50 239.44 168 1 Round, top inside round 17 47,911 209.16 232.99 217.61 168 3 Round, top inside round 19 125,106 223.15 242.58 227.17 169 5 Round, top inside, denuded 21 107,998 261.00 278.00 267.04

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 6,962 211.00 222.00 214.77 171B 3 Round, outside round 42 115,018 224.00 257.01 237.49 171C 3 Round, eye of round (IM) 49 145,641 247.00 267.00 253.04 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 38,856 505.00 552.00 517.33 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 9,824 455.00 494.99 455.36 180 3 Loin, strip, bnls, 0x1 52 307,156 503.00 540.00 515.11 184 1 Loin, top butt, bnls, heavy 7 5,326 300.00 340.00 336.45 184 3 Loin, top butt, boneless 27 143,842 333.55 351.45 340.37 185A 4 Loin, bottom sirloin, flap 15 53,121 372.35 393.00 379.50 185B 1 Loin, ball-tip, bnls, heavy 19 41,221 234.00 242.00 237.02 185C 1 Loin, sirloin, tri-tip (IM) 3 9,828 305.87 330.00 307.05 185D 4 Loin, tri-tip, pld (IM) 10 1,779 410.00 458.00 430.57 189A 4 Loin, tndrloin, trmd, heavy 41 105,129 953.59 1111.00 994.92 191A 4 Loin, butt tender, trimmed 4 10,305 980.94 987.60 985.86 193 4 Flank, flank steak (IM) 13 7,956 420.00 454.00 435.35 ------------------------------------------------------------------------------- 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 11 37,510 441.86 499.00 478.35 112A 3 Rib, ribeye, bnls, light 12 70,728 523.00 561.50 532.73 112A 3 Rib, ribeye, bnls, heavy 24 50,735 507.00 555.00 527.69 113C 1 Chuck, semi-bnls, neck/off 5 6,186 217.50 219.00 218.48 114 1 Chuck, shoulder clod 6 21,652 208.00 217.00 212.77 114A 3 Chuck, shoulder clod, trmd 10 64,136 216.14 227.30 220.51 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 6,898 273.83 285.00 279.53 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 16 71,705 238.00 256.00 243.01 116B 1 Chuck, chuck tender (IM) 5 12,117 225.00 250.00 234.99

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 5 46,160 200.00 215.00 200.88 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 5,855 365.00 391.00 384.20 130 4 Chuck, short rib 12 16,165 265.00 286.00 271.11 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 19 88,380 232.07 248.58 238.99 168 1 Round, top inside round 12 55,196 200.71 228.00 209.86 168 3 Round, top inside round 4 47,064 221.00 227.54 224.26 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 12 34,323 228.00 247.80 230.37 171C 3 Round, eye of round (IM) 14 31,219 245.20 258.00 251.35 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 14 138,180 408.00 446.00 419.03 175 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 18 45,205 400.00 460.00 436.33 184 1 Loin, top butt, bnls, heavy 12 147,105 253.37 285.00 265.88 184 3 Loin, top butt, boneless 14 80,620 278.15 300.00 289.41 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 7 32,955 234.45 242.00 236.33 185C 1 Loin, sirloin, tri-tip (IM) 3 3,781 299.00 301.63 299.83 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 16 29,930 850.00 967.00 876.04 191A 4 Loin, butt tender, trimmed 4 8,985 830.00 882.00 849.88 193 4 Flank, flank steak (IM) 8 5,484 396.00 435.00 410.27 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 14 8,382 85.00 125.00 100.91 121D 4 Plate, Inside Skirt (IM) 28 69,289 341.21 385.00 350.95 121C 4 Plate, Outside Skirt (IM) 12 21,182 451.74 501.00 458.06 121E 6 Outside Skirt, pld (IM) 9 38,939 585.00 600.00 598.78

Cap, Wedge Meat & (IM) Lean 57 325,646 254.00 270.99 259.56

Pectoral Meat 26 89,966 250.00 282.80 260.10 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 24 378,739 150.00 170.89 164.37 Ground Beef 75% Ground Beef 81% 20 98,072 198.00 219.00 206.78 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 11 51,397 233.48 283.50 255.98 Ground Beef Chuck 80% 25 211,654 207.00 226.13 219.55 Ground Beef Round 85% 20 51,155 227.24 245.00 235.10 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% 5 34,504 198.25 244.00 225.26 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 22 668,783 72.00 79.50 74.06 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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