Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 190.73 184.39 Change from prior day: 0.89 1.78 ------------------------------------------------------------------------------- Choice/Select spread: 6.34

Total Load Count (Cuts, Trimmings, Grids): 246 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.29 254.84 Primal Chuck 166.18 165.10 Primal Round 169.07 169.56 Primal Loin 253.48 232.66 Primal Brisket 130.13 128.99 Primal Short Plate 130.15 135.04 Primal Flank 103.86 99.22 -------------------------------------------------------------------------------- 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 110.84 loads 4,433,508 pounds Select Cuts 79.64 loads 3,185,442 pounds Trimmings 8.87 loads 354,785 pounds Ground Beef 46.51 load 1,860,551 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 23 129,152 514.00 561.00 519.94 112A 3 Rib, ribeye, bnls, light 20 94,775 585.00 651.26 602.04 112A 3 Rib, ribeye, bnls, heavy 54 138,640 570.00 617.10 596.92 113C 1 Chuck, semi-bnls, neck/off 4 15,094 205.00 225.94 207.64 114 1 Chuck, shoulder clod 17 44,578 204.53 212.00 208.43 114A 3 Chuck, shoulder clod, trmd 29 145,851 210.00 225.00 217.36 114D 3 Chuck, clod, top blade 12 8,272 275.21 295.00 284.88 114E 3 Chuck, clod, arm roast 10 12,914 249.80 273.30 257.66 114F 5 Chuck, clod tender (IM) 17 13,860 289.53 368.00 302.57 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 46 137,371 231.60 262.60 247.64 116B 1 Chuck, chuck tender (IM) 16 46,948 219.99 250.00 225.49

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 37 461,271 191.75 223.00 194.92 120A 3 Brisket, point/off, bnls 10 17,247 350.00 373.00 352.98 123A 3 Short Plate, short rib 23 47,438 330.00 401.00 371.66 130 4 Chuck, short rib 20 49,742 275.00 296.00 284.29 160 1 Round, bone-in 4 8,578 207.00 218.00 208.59 161 1 Round, boneless 3 11,166 213.25 223.00 213.99

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 49 229,407 222.75 245.00 231.90 168 1 Round, top inside round 26 107,011 194.05 223.00 201.92 168 3 Round, top inside round 37 437,174 202.40 231.00 210.23 169 5 Round, top inside, denuded 22 176,009 241.00 260.00 250.89

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 41 203,210 214.66 238.00 222.42 171C 3 Round, eye of round (IM) 43 122,241 243.92 268.00 252.35 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 27 170,207 496.00 539.50 514.37 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 8 6,333 430.00 455.00 437.27 180 3 Loin, strip, bnls, 0x1 53 243,552 475.00 545.86 511.42 184 1 Loin, top butt, bnls, heavy 12 12,075 300.00 335.37 329.43 184 3 Loin, top butt, boneless 33 266,991 317.00 345.00 329.54 185A 4 Loin, bottom sirloin, flap 33 120,328 360.00 405.00 379.75 185B 1 Loin, ball-tip, bnls, heavy 20 40,687 227.00 243.05 230.26 185C 1 Loin, sirloin, tri-tip (IM) 7 28,775 285.00 319.00 291.57 185D 4 Loin, tri-tip, pld (IM) 9 6,653 405.00 434.00 413.95 189A 4 Loin, tndrloin, trmd, heavy 41 160,763 902.00 1091.00 939.70 191A 4 Loin, butt tender, trimmed 10 38,133 819.00 988.00 849.91 193 4 Flank, flank steak (IM) 18 26,573 430.00 458.00 436.22 ------------------------------------------------------------------------------- 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 7 13,580 485.00 506.00 492.51 112A 3 Rib, ribeye, bnls, light 4 3,024 540.00 565.00 548.03 112A 3 Rib, ribeye, bnls, heavy 32 85,027 525.00 565.00 543.21 113C 1 Chuck, semi-bnls, neck/off 4 11,226 206.00 216.75 212.24 114 1 Chuck, shoulder clod 8 101,949 193.00 215.00 207.23 114A 3 Chuck, shoulder clod, trmd 13 80,079 215.00 226.00 218.38 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 14 19,877 279.59 327.00 292.67 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 32 104,796 222.60 250.00 236.75 116B 1 Chuck, chuck tender (IM) 3 19,615 220.00 249.75 222.89

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 33 982,351 190.70 208.00 193.56 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 6 6,161 340.00 367.77 351.53 130 4 Chuck, short rib 14 32,152 265.00 291.00 272.53 160 1 Round, bone-in 161 1 Round, boneless 4 5,700 215.00 219.00 217.03

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 19 49,428 228.00 240.94 235.07 168 1 Round, top inside round 23 63,646 197.00 218.00 206.36 168 3 Round, top inside round 14 46,673 210.50 232.00 215.01 169 5 Round, top inside, denuded 0 0

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 22 78,163 217.00 236.00 223.79 171C 3 Round, eye of round (IM) 23 63,623 230.00 261.00 239.76 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 17 150,551 412.05 445.00 435.96 175 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 17 11,808 396.00 450.00 425.51 184 1 Loin, top butt, bnls, heavy 14 183,217 250.00 295.00 269.95 184 3 Loin, top butt, boneless 19 63,470 275.00 305.00 290.42 185A 4 Loin, bottom sirloin, flap 11 30,166 367.00 390.00 379.01 185B 1 Loin, ball-tip, bnls, heavy 21 101,547 219.88 235.65 229.26 185C 1 Loin, sirloin, tri-tip (IM) 8 51,985 280.00 300.00 286.93 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 24 104,088 862.00 900.58 877.43 191A 4 Loin, butt tender, trimmed 5 6,755 834.65 844.50 841.14 193 4 Flank, flank steak (IM) 9 26,794 382.94 431.00 394.01 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 13 14,490 108.00 129.62 116.96 121D 4 Plate, Inside Skirt (IM) 21 29,064 350.00 394.00 359.17 121C 4 Plate, Outside Skirt (IM) 19 35,880 420.07 512.00 453.94 121E 6 Outside Skirt, pld (IM) 8 15,523 606.70 640.00 610.86

Cap, Wedge Meat & (IM) Lean 58 371,294 260.00 275.00 264.74

Pectoral Meat 31 222,493 254.00 270.00 261.68 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 44 594,120 154.75 198.06 167.18 Ground Beef 75% Ground Beef 81% 38 298,227 190.00 233.00 209.14 Ground Beef 85% Ground Beef 90% Ground Beef 93% 9 60,437 266.00 282.00 281.94 Ground Beef Chuck 80% 26 171,173 205.00 243.00 219.07 Ground Beef Round 85% 13 24,287 227.27 245.00 236.95 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% 25 322,370 198.25 234.60 214.94 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 12 286,505 69.61 77.00 73.10 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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