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USDA Boxed Beef Cutout Midday Prices for February 11

February 11, 2013

February 11 (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: 182.39 179.08 Change from prior day: 0.27 (0.54) ------------------------------------------------------------------------------- Choice/Select spread: 3.31

Total Load Count (Cuts, Trimmings, Grids): 90 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 270.30 261.47 Primal Chuck 156.73 155.04 Primal Round 159.20 158.99 Primal Loin 240.87 231.15 Primal Brisket 121.31 119.42 Primal Short Plate 129.90 135.70 Primal Flank 101.15 100.35 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 02/08 98 46 16 57 217 182.12 179.62 02/07 100 42 38 20 200 183.46 181.13 02/06 93 34 15 43 186 183.94 180.65 02/05 65 55 23 39 183 184.31 179.72 02/04 102 56 6 42 206 182.74 179.01 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 183.31 180.02 -------------------------------------------------------------------------------- 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 50.86 loads 2,034,497 pounds Select Cuts 11.24 loads 449,772 pounds Trimmings 9.22 loads 368,953 pounds Ground Beef 19.15 load 766,114 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 32 315,806 510.00 565.00 520.60 112A 3 Rib, ribeye, bnls, light 5 7,914 594.00 622.00 610.73 112A 3 Rib, ribeye, bnls, heavy 12 62,079 570.00 630.00 580.95 113C 1 Chuck, semi-bnls, neck/off 3 3,586 203.87 209.00 204.94 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 20 106,136 204.00 216.00 209.91 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 12 28,653 244.00 249.00 246.44 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 18 105,177 222.60 244.00 232.50 116B 1 Chuck, chuck tender (IM) 7 7,524 216.58 228.00 218.92

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 16 114,313 186.00 216.00 188.23 120A 3 Brisket, point/off, bnls 5 2,874 325.00 338.56 327.32 123A 3 Short Plate, short rib 17 18,671 363.50 426.00 391.08 130 4 Chuck, short rib 14 27,817 299.34 328.00 313.44 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 39 217,096 210.21 240.18 216.53 168 1 Round, top inside round 13 40,935 185.00 199.99 190.30 168 3 Round, top inside round 7 34,249 185.00 203.47 197.94 169 5 Round, top inside, denuded 25 122,353 227.00 239.03 234.82

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 29 109,035 204.00 236.01 221.87 171C 3 Round, eye of round (IM) 26 51,629 225.00 246.78 231.47 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 5 21,474 470.94 485.87 471.92 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 5 3,620 415.00 447.00 422.61 180 3 Loin, strip, bnls, 0x1 33 247,512 464.00 485.00 470.30 184 1 Loin, top butt, bnls, heavy 9 5,156 300.00 327.00 305.33 184 3 Loin, top butt, boneless 19 71,886 317.91 339.50 321.16 185A 4 Loin, bottom sirloin, flap 11 17,348 354.00 381.20 369.85 185B 1 Loin, ball-tip, bnls, heavy 7 14,981 218.00 240.18 224.98 185C 1 Loin, sirloin, tri-tip (IM) 4 22,797 275.00 295.00 279.61 185D 4 Loin, tri-tip, pld (IM) 5 14,398 390.00 401.00 393.49 189A 4 Loin, tndrloin, trmd, heavy 34 89,541 875.00 996.00 895.69 191A 4 Loin, butt tender, trimmed 3 2,708 870.94 871.00 870.98 193 4 Flank, flank steak (IM) 6 17,964 425.00 449.35 436.87 ------------------------------------------------------------------------------- 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 112A 3 Rib, ribeye, bnls, light 4 6,072 524.21 570.00 542.90 112A 3 Rib, ribeye, bnls, heavy 9 38,157 547.56 570.64 567.75 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 3 3,034 199.00 207.80 205.19 114A 3 Chuck, shoulder clod, trmd 6 12,157 208.00 215.98 211.66 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 3 1,225 233.00 242.00 237.68 116B 1 Chuck, chuck tender (IM) 4 3,772 215.00 230.00 218.82

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 2,569 390.00 416.00 404.38 130 4 Chuck, short rib 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 168 1 Round, top inside round 10 88,003 186.00 196.00 186.98 168 3 Round, top inside round 3 11,789 194.00 207.00 196.54 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 3 8,051 202.44 222.80 206.56 171C 3 Round, eye of round (IM) 4 2,155 224.39 245.00 231.20 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 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 8 7,925 425.00 461.00 441.44 184 1 Loin, top butt, bnls, heavy 5 5,681 280.32 286.00 281.80 184 3 Loin, top butt, boneless 3 3,548 305.00 310.00 309.53 185A 4 Loin, bottom sirloin, flap 6 46,717 343.00 375.00 353.40 185B 1 Loin, ball-tip, bnls, heavy 7 21,810 215.81 235.00 221.78 185C 1 Loin, sirloin, tri-tip (IM) 3 6,585 275.00 288.70 280.81 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 10 16,883 890.00 925.00 893.17 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 7,739 97.00 130.01 109.27 121D 4 Plate, Inside Skirt (IM) 19 39,580 344.00 390.00 358.60 121C 4 Plate, Outside Skirt (IM) 3 5,338 447.00 510.00 492.08 121E 6 Outside Skirt, pld (IM) 5 14,857 633.00 776.00 645.23

Cap, Wedge Meat & (IM) Lean 12 19,461 262.94 284.20 272.98

Pectoral Meat 13 41,591 245.00 263.00 252.66 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 13 271,137 143.65 156.00 147.17 Ground Beef 75% 0 0 Ground Beef 81% 11 22,783 182.00 211.20 196.89 Ground Beef 85% Ground Beef 90% Ground Beef 93% 16 163,096 250.00 269.00 253.59 Ground Beef Chuck 80% 11 122,263 190.00 210.80 197.64 Ground Beef Round 85% 11 66,364 213.65 225.00 219.18 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% 0 0 Blended Ground Beef 81% 8 49,796 194.60 213.00 205.83 Blended Ground Beef 85% Blended Ground Beef 90% 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 15 367,903 63.13 72.00 65.96 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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