Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 194.35 184.18 Change from prior day: 0.11 0.69 ------------------------------------------------------------------------------- Choice/Select spread: 10.17

Total Load Count (Cuts, Trimmings, Grids): 96 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.80 251.18 Primal Chuck 167.13 165.04 Primal Round 176.63 173.93 Primal Loin 259.64 227.08 Primal Brisket 135.77 134.08 Primal Short Plate 130.64 135.53 Primal Flank 102.72 103.36 -------------------------------------------------------------------------------- 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 49.85 loads 1,994,091 pounds Select Cuts 20.83 loads 833,254 pounds Trimmings 10.87 loads 434,994 pounds Ground Beef 14.12 load 564,699 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 20 97,231 517.88 549.00 540.21 112A 3 Rib, ribeye, bnls, light 9 15,657 587.00 630.00 597.23 112A 3 Rib, ribeye, bnls, heavy 39 236,023 562.00 620.00 584.99 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 8 5,630 205.00 213.00 210.71 114A 3 Chuck, shoulder clod, trmd 14 60,756 213.00 223.64 216.87 114D 3 Chuck, clod, top blade 6 35,750 278.34 288.76 279.51 114E 3 Chuck, clod, arm roast 10 26,934 250.06 270.00 255.58 114F 5 Chuck, clod tender (IM) 6 6,360 287.00 320.00 298.89 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 97,843 240.00 255.00 244.92 116B 1 Chuck, chuck tender (IM) 12 27,250 225.00 250.00 232.85

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 18 77,910 204.40 220.00 206.54 120A 3 Brisket, point/off, bnls 4 5,019 349.97 360.00 352.43 123A 3 Short Plate, short rib 16 82,431 323.40 401.00 342.83 130 4 Chuck, short rib 12 18,740 260.00 275.30 269.74 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 39 166,747 233.00 254.50 238.87 168 1 Round, top inside round 14 34,782 210.00 232.99 216.87 168 3 Round, top inside round 15 117,400 223.15 237.50 226.61 169 5 Round, top inside, denuded 19 107,264 261.00 278.00 267.06

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 5,375 212.98 222.00 215.89 171B 3 Round, outside round 23 62,038 228.79 257.01 242.85 171C 3 Round, eye of round (IM) 29 73,619 247.00 267.00 253.45 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 11 36,068 505.00 539.50 515.57 175 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 38 249,848 503.00 540.00 514.53 184 1 Loin, top butt, bnls, heavy 7 5,326 300.00 340.00 336.45 184 3 Loin, top butt, boneless 20 91,040 334.62 347.06 338.96 185A 4 Loin, bottom sirloin, flap 8 26,840 372.35 393.00 378.50 185B 1 Loin, ball-tip, bnls, heavy 14 30,851 235.00 237.41 235.94 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 6 1,301 410.00 444.45 426.95 189A 4 Loin, tndrloin, trmd, heavy 31 81,473 970.00 1111.00 995.88 191A 4 Loin, butt tender, trimmed 3 2,713 980.94 981.00 980.98 193 4 Flank, flank steak (IM) 8 7,184 420.00 451.00 435.40 ------------------------------------------------------------------------------- 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 8,257 441.86 496.00 465.02 112A 3 Rib, ribeye, bnls, light 10 67,265 525.00 560.00 532.12 112A 3 Rib, ribeye, bnls, heavy 15 14,483 507.00 531.21 517.70 113C 1 Chuck, semi-bnls, neck/off 4 5,779 217.50 219.00 218.52 114 1 Chuck, shoulder clod 4 18,124 212.49 214.71 213.18 114A 3 Chuck, shoulder clod, trmd 4 33,737 216.14 226.50 220.59 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 9 43,849 238.00 255.00 242.32 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 9 9,670 214.20 275.00 248.93 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 10 65,754 232.07 240.91 237.48 168 1 Round, top inside round 10 51,213 200.71 228.00 209.37 168 3 Round, top inside round 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 9 28,113 228.00 247.80 230.73 171C 3 Round, eye of round (IM) 8 16,347 246.88 254.45 249.64 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 3 7,047 410.00 442.00 431.07 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 11 33,456 400.00 460.00 438.16 184 1 Loin, top butt, bnls, heavy 9 92,118 253.37 278.00 264.82 184 3 Loin, top butt, boneless 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 11 18,955 850.00 881.36 859.60 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 3 2,067 396.00 423.00 401.27 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 11 5,978 85.00 125.00 96.73 121D 4 Plate, Inside Skirt (IM) 11 31,274 341.21 375.00 347.33 121C 4 Plate, Outside Skirt (IM) 11 20,557 451.74 493.63 456.75 121E 6 Outside Skirt, pld (IM) 4 11,942 600.00 600.00 600.00

Cap, Wedge Meat & (IM) Lean 28 118,631 254.97 267.00 258.37

Pectoral Meat 9 36,530 253.00 269.91 255.10 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 14 166,856 150.00 167.79 165.72 Ground Beef 75% Ground Beef 81% 14 50,807 198.00 219.00 208.40 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 9 48,828 233.48 283.50 255.54 Ground Beef Chuck 80% 22 179,302 207.00 226.13 218.88 Ground Beef Round 85% 16 38,279 231.00 245.00 237.15 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% 0 0 Blended Ground Beef 81% Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 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 10 271,614 72.00 75.50 74.23 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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