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USDA Boxed Beef Cutout Midday Prices for January 15

January 15, 2013

January 15 (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: 194.00 184.42 Change from prior day: (0.09) (0.34) ------------------------------------------------------------------------------- Choice/Select spread: 9.58

Total Load Count (Cuts, Trimmings, Grids): 108 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.22 251.72 Primal Chuck 165.70 164.59 Primal Round 175.69 174.22 Primal Loin 260.47 229.22 Primal Brisket 136.81 133.26 Primal Short Plate 130.74 135.40 Primal Flank 106.09 98.60 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 01/14 84 41 22 24 170 194.09 184.76 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.93 183.81 -------------------------------------------------------------------------------- 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 36.41 loads 1,456,437 pounds Select Cuts 39.38 loads 1,575,319 pounds Trimmings 10.00 loads 399,999 pounds Ground Beef 22.50 load 900,123 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 9 8,760 530.00 561.79 549.20 112A 3 Rib, ribeye, bnls, light 3 1,794 610.00 623.75 616.36 112A 3 Rib, ribeye, bnls, heavy 26 41,188 575.00 620.51 591.42 113C 1 Chuck, semi-bnls, neck/off 3 4,924 209.24 217.00 214.80 114 1 Chuck, shoulder clod 7 25,949 203.00 217.00 205.74 114A 3 Chuck, shoulder clod, trmd 14 48,892 210.00 225.00 217.32 114D 3 Chuck, clod, top blade 8 75,394 263.00 291.00 270.77 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 13,115 290.00 324.80 312.09 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 15 73,814 238.60 260.50 245.33 116B 1 Chuck, chuck tender (IM) 8 5,484 228.00 245.00 237.07

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 15 86,254 201.00 210.27 206.85 120A 3 Brisket, point/off, bnls 6 3,716 353.00 387.00 363.24 123A 3 Short Plate, short rib 21 27,488 332.00 395.00 373.04 130 4 Chuck, short rib 5 10,157 279.50 287.00 281.31 160 1 Round, bone-in 3 8,631 210.00 247.50 216.77 161 1 Round, boneless 3 4,862 226.00 228.00 226.93

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 27 110,121 232.00 247.00 237.54 168 1 Round, top inside round 13 44,445 210.00 225.70 215.96 168 3 Round, top inside round 15 272,126 218.00 238.00 222.21 169 5 Round, top inside, denuded 4 7,302 270.00 274.00 273.54

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 22,840 205.07 230.00 218.98 171B 3 Round, outside round 23 50,658 224.00 243.00 231.82 171C 3 Round, eye of round (IM) 15 16,548 250.00 267.00 257.22 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 10 16,533 511.00 535.00 515.08 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 3 2,831 455.00 455.50 455.06 180 3 Loin, strip, bnls, 0x1 18 13,854 505.00 550.94 529.20 184 1 Loin, top butt, bnls, heavy 9 11,902 315.00 343.00 329.96 184 3 Loin, top butt, boneless 9 95,726 335.00 355.00 344.30 185A 4 Loin, bottom sirloin, flap 23 144,376 360.00 411.00 371.93 185B 1 Loin, ball-tip, bnls, heavy 7 26,253 235.00 248.00 236.93 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 7 1,738 419.37 439.00 433.07 189A 4 Loin, tndrloin, trmd, heavy 14 18,214 963.00 1075.00 982.22 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 7,306 425.00 460.00 438.67 ------------------------------------------------------------------------------- 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 14,010 460.00 486.00 478.49 112A 3 Rib, ribeye, bnls, light 3 3,839 537.25 555.00 544.73 112A 3 Rib, ribeye, bnls, heavy 9 13,085 516.00 555.00 528.45 113C 1 Chuck, semi-bnls, neck/off 3 5,013 209.24 216.01 214.02 114 1 Chuck, shoulder clod 13 229,313 200.00 213.12 204.81 114A 3 Chuck, shoulder clod, trmd 12 79,209 217.69 222.00 218.33 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 6 3,796 280.00 326.25 309.06 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 30 495,515 240.00 252.00 244.36 116B 1 Chuck, chuck tender (IM) 5 11,846 230.00 250.00 234.02

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 6 15,825 201.00 209.00 204.41 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 7 9,467 264.72 274.00 272.16 160 1 Round, bone-in 161 1 Round, boneless 3 3,003 220.75 222.00 221.09

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 100,231 234.00 244.00 238.24 168 1 Round, top inside round 5 10,137 210.00 222.00 214.71 168 3 Round, top inside round 6 6,980 224.24 231.18 227.29 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 42,985 195.00 230.00 196.54 171B 3 Round, outside round 7 9,335 228.05 240.00 231.73 171C 3 Round, eye of round (IM) 12 28,316 244.00 250.90 248.36 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 15 29,753 408.00 445.00 417.36 175 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 13 17,245 398.00 435.00 415.96 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 10 66,801 283.05 305.50 294.72 185A 4 Loin, bottom sirloin, flap 4 23,942 371.27 381.24 372.71 185B 1 Loin, ball-tip, bnls, heavy 7 21,014 216.00 235.00 231.33 185C 1 Loin, sirloin, tri-tip (IM) 5 16,849 282.24 285.00 284.56 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 16 62,139 840.00 876.00 861.64 191A 4 Loin, butt tender, trimmed 4 3,479 817.00 830.00 818.82 193 4 Flank, flank steak (IM) 7 45,698 375.31 400.00 382.28 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 13 19,142 330.00 368.00 354.52 121C 4 Plate, Outside Skirt (IM) 10 53,865 445.00 501.00 454.61 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 22 69,432 254.24 275.00 263.48

Pectoral Meat 17 49,602 257.00 274.00 265.55 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 21 235,800 163.82 172.00 167.57 Ground Beef 75% Ground Beef 81% 14 117,278 207.00 232.00 224.66 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 9 66,207 263.54 282.00 280.77 Ground Beef Chuck 80% 9 124,271 215.00 232.00 217.56 Ground Beef Round 85% 8 18,423 231.00 237.00 232.63 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% 13 45,738 202.07 239.75 218.24 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 9 314,249 69.50 77.00 73.29 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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