Bloomberg News

USDA Boxed Beef Cutout Closing Prices for January 22

January 22, 2013

January 22 (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: 190.59 183.90 Change from prior day: 0.75 1.29 ------------------------------------------------------------------------------- Choice/Select spread: 6.68

Total Load Count (Cuts, Trimmings, Grids): 394 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.40 255.41 Primal Chuck 166.08 163.59 Primal Round 168.71 168.35 Primal Loin 253.59 233.66 Primal Brisket 130.06 128.66 Primal Short Plate 129.38 134.83 Primal Flank 103.58 98.85 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 01/18 82 51 26 35 194 189.84 182.61 01/17 107 59 19 31 215 192.20 184.36 01/16 77 57 12 36 183 193.83 186.20 01/15 73 62 12 34 181 193.46 184.92 01/14 84 41 22 24 170 194.09 184.76 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 192.69 184.57 -------------------------------------------------------------------------------- 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 170.87 loads 6,834,764 pounds Select Cuts 122.05 loads 4,881,865 pounds Trimmings 39.19 loads 1,567,665 pounds Ground Beef 62.32 load 2,492,815 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 39 137,744 514.00 567.00 520.93 112A 3 Rib, ribeye, bnls, light 30 155,243 580.50 651.26 603.97 112A 3 Rib, ribeye, bnls, heavy 84 209,257 570.00 617.10 592.24 113C 1 Chuck, semi-bnls, neck/off 9 37,553 198.00 225.94 204.32 114 1 Chuck, shoulder clod 22 94,386 200.00 215.00 204.81 114A 3 Chuck, shoulder clod, trmd 53 265,873 210.00 248.50 217.80 114D 3 Chuck, clod, top blade 21 15,755 269.55 296.36 283.93 114E 3 Chuck, clod, arm roast 19 72,068 245.00 275.00 253.57 114F 5 Chuck, clod tender (IM) 23 19,700 279.59 368.00 298.64 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 83 250,664 231.60 262.60 244.34 116B 1 Chuck, chuck tender (IM) 34 61,294 219.99 257.00 228.23

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 60 628,610 191.75 226.50 196.14 120A 3 Brisket, point/off, bnls 30 27,154 344.50 383.00 352.25 123A 3 Short Plate, short rib 52 126,252 330.00 407.00 371.12 130 4 Chuck, short rib 31 91,191 275.00 297.00 284.84 160 1 Round, bone-in 11 22,787 202.00 218.00 208.44 161 1 Round, boneless 3 11,166 213.25 223.00 213.99

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 87 369,345 222.75 245.00 231.80 168 1 Round, top inside round 39 214,505 194.05 223.00 200.65 168 3 Round, top inside round 58 669,905 202.40 234.50 211.24 169 5 Round, top inside, denuded 33 187,707 240.00 265.00 250.83

3 Round, top inside, side off 170 1 Round, bottom gooseneck 8 25,518 205.00 220.70 214.34 171B 3 Round, outside round 79 442,280 213.35 238.00 220.67 171C 3 Round, eye of round (IM) 65 216,305 235.00 268.00 247.57 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 48 178,826 490.00 539.50 514.33 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 12 10,198 430.00 455.00 438.16 180 3 Loin, strip, bnls, 0x1 79 310,643 475.00 545.86 508.74 184 1 Loin, top butt, bnls, heavy 14 13,272 300.00 335.37 329.65 184 3 Loin, top butt, boneless 42 344,501 310.31 345.00 326.38 185A 4 Loin, bottom sirloin, flap 57 235,986 360.00 401.00 375.70 185B 1 Loin, ball-tip, bnls, heavy 26 144,767 219.25 243.05 228.39 185C 1 Loin, sirloin, tri-tip (IM) 12 38,885 285.00 319.00 293.05 185D 4 Loin, tri-tip, pld (IM) 21 8,569 405.00 438.00 414.17 189A 4 Loin, tndrloin, trmd, heavy 64 193,327 902.00 1092.00 940.97 191A 4 Loin, butt tender, trimmed 14 38,793 819.00 1015.00 852.68 193 4 Flank, flank steak (IM) 33 31,427 429.00 458.00 436.49 ------------------------------------------------------------------------------- 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 20 18,247 485.00 529.00 495.15 112A 3 Rib, ribeye, bnls, light 8 8,249 537.60 565.00 546.27 112A 3 Rib, ribeye, bnls, heavy 55 105,220 525.00 567.00 544.24 113C 1 Chuck, semi-bnls, neck/off 11 30,756 203.00 219.00 209.31 114 1 Chuck, shoulder clod 12 129,220 193.00 215.00 206.15 114A 3 Chuck, shoulder clod, trmd 18 137,138 215.00 226.00 218.30 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 22 37,104 268.00 327.00 286.54 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 54 322,422 222.60 250.00 231.39 116B 1 Chuck, chuck tender (IM) 7 29,097 216.00 249.75 223.57

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 37 986,884 190.70 208.60 193.62 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 13 22,128 290.00 396.00 336.28 130 4 Chuck, short rib 20 37,002 265.00 292.00 273.80 160 1 Round, bone-in 161 1 Round, boneless 5 6,380 215.00 226.00 217.98

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 35 93,833 222.00 244.00 234.37 168 1 Round, top inside round 36 280,000 192.50 218.00 197.89 168 3 Round, top inside round 24 77,111 206.70 232.00 213.62 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 124,113 198.92 213.00 199.05 171B 3 Round, outside round 34 134,380 214.00 236.00 220.47 171C 3 Round, eye of round (IM) 40 118,957 226.00 251.00 235.40 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 35 172,171 412.05 450.60 434.40 175 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 40 41,890 396.00 456.00 432.27 184 1 Loin, top butt, bnls, heavy 37 762,258 250.00 295.00 271.78 184 3 Loin, top butt, boneless 36 85,911 271.00 305.00 291.79 185A 4 Loin, bottom sirloin, flap 15 47,823 365.93 390.00 374.45 185B 1 Loin, ball-tip, bnls, heavy 25 110,582 219.88 235.65 229.43 185C 1 Loin, sirloin, tri-tip (IM) 11 59,665 280.00 300.00 286.65 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 42 144,519 855.00 982.00 885.93 191A 4 Loin, butt tender, trimmed 11 15,855 830.00 844.50 834.78 193 4 Flank, flank steak (IM) 12 30,227 382.94 431.00 394.56 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 16 18,663 102.99 129.62 114.68 121D 4 Plate, Inside Skirt (IM) 38 54,639 330.00 394.00 354.64 121C 4 Plate, Outside Skirt (IM) 24 41,544 420.07 512.00 455.70 121E 6 Outside Skirt, pld (IM) 8 15,523 606.70 640.00 610.86

Cap, Wedge Meat & (IM) Lean 96 514,868 260.00 275.00 264.32

Pectoral Meat 42 235,444 254.00 280.00 261.98 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 65 825,555 154.75 198.06 168.09 Ground Beef 75% Ground Beef 81% 54 424,166 190.00 235.50 206.52 Ground Beef 85% Ground Beef 90% Ground Beef 93% 23 112,208 251.83 282.30 271.88 Ground Beef Chuck 80% 37 227,208 205.00 243.00 219.89 Ground Beef Round 85% 24 52,883 227.27 245.00 234.89 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% 33 398,010 198.25 244.00 216.25 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 52 1,458,715 59.00 77.00 65.55 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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