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USDA Boxed Beef Cutout Closing Prices for February 13

February 13, 2013

February 13 (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: 183.68 179.32 Change from prior day: 0.23 0.02 ------------------------------------------------------------------------------- Choice/Select spread: 4.36

Total Load Count (Cuts, Trimmings, Grids): 215 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 274.83 263.82 Primal Chuck 160.29 157.17 Primal Round 156.53 157.40 Primal Loin 242.71 230.39 Primal Brisket 123.61 122.81 Primal Short Plate 128.28 133.53 Primal Flank 99.34 96.04 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 02/12 81 53 6 30 169 183.45 179.30 02/11 72 23 13 29 137 182.72 179.15 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 183.14 179.97 -------------------------------------------------------------------------------- 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 103.30 loads 4,132,043 pounds Select Cuts 47.98 loads 1,919,152 pounds Trimmings 14.93 loads 597,079 pounds Ground Beef 48.85 load 1,954,163 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 22 58,589 513.00 562.00 520.40 112A 3 Rib, ribeye, bnls, light 19 25,388 585.00 641.00 606.24 112A 3 Rib, ribeye, bnls, heavy 66 184,648 555.00 644.00 575.40 113C 1 Chuck, semi-bnls, neck/off 9 13,284 206.00 219.00 209.37 114 1 Chuck, shoulder clod 17 124,303 192.54 213.98 194.70 114A 3 Chuck, shoulder clod, trmd 39 179,082 208.00 220.00 210.55 114D 3 Chuck, clod, top blade 5 31,446 270.00 280.60 271.22 114E 3 Chuck, clod, arm roast 6 7,595 250.00 276.84 255.13 114F 5 Chuck, clod tender (IM) 24 24,008 310.00 335.50 323.76 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 69 214,667 229.00 257.60 236.05 116B 1 Chuck, chuck tender (IM) 20 34,199 215.00 230.87 223.79

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 73 404,294 180.00 206.87 188.35 120A 3 Brisket, point/off, bnls 18 27,337 305.00 335.00 316.44 123A 3 Short Plate, short rib 30 81,243 365.00 437.00 387.18 130 4 Chuck, short rib 32 45,194 298.00 330.00 318.82 160 1 Round, bone-in 5 4,397 192.00 210.00 201.90 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 72 327,693 208.61 232.00 214.65 168 1 Round, top inside round 52 341,824 178.10 202.89 183.99 168 3 Round, top inside round 45 557,952 188.33 213.00 194.45 169 5 Round, top inside, denuded 15 19,628 226.00 242.00 227.81

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 2,435 196.86 230.00 222.76 171B 3 Round, outside round 50 376,958 200.00 225.00 205.75 171C 3 Round, eye of round (IM) 45 142,123 213.97 241.60 219.23 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 26 51,558 439.42 506.00 468.24 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 27 21,382 405.00 425.00 410.84 180 3 Loin, strip, bnls, 0x1 63 112,367 460.00 499.00 471.20 184 1 Loin, top butt, bnls, heavy 21 56,169 300.00 320.00 302.64 184 3 Loin, top butt, boneless 25 81,720 310.00 339.50 323.13 185A 4 Loin, bottom sirloin, flap 40 83,401 347.43 412.00 366.03 185B 1 Loin, ball-tip, bnls, heavy 29 44,637 227.00 238.00 231.53 185C 1 Loin, sirloin, tri-tip (IM) 10 6,739 282.00 310.00 293.20 185D 4 Loin, tri-tip, pld (IM) 12 4,931 390.00 406.00 398.47 189A 4 Loin, tndrloin, trmd, heavy 66 87,930 865.00 1086.00 910.34 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 21 39,887 390.00 461.00 405.86 ------------------------------------------------------------------------------- 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 13 22,559 504.00 529.89 514.12 112A 3 Rib, ribeye, bnls, light 16 24,495 555.00 575.70 567.40 112A 3 Rib, ribeye, bnls, heavy 39 49,458 537.00 581.00 566.46 113C 1 Chuck, semi-bnls, neck/off 8 13,659 203.39 220.00 210.86 114 1 Chuck, shoulder clod 14 31,045 196.00 210.00 202.05 114A 3 Chuck, shoulder clod, trmd 16 66,138 205.00 217.28 209.97 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 20 17,487 280.00 327.00 293.79 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 32 173,588 225.08 242.00 231.98 116B 1 Chuck, chuck tender (IM) 22 45,776 214.00 235.00 222.04

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 19 107,169 182.21 197.00 186.03 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 6 7,069 300.00 325.00 308.09 160 1 Round, bone-in 161 1 Round, boneless 5 4,603 203.00 211.00 205.41

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 32 73,320 209.47 229.00 217.22 168 1 Round, top inside round 24 146,640 179.47 196.00 183.01 168 3 Round, top inside round 13 96,923 192.00 225.00 195.28 169 5 Round, top inside, denuded 9 9,856 227.00 250.00 231.47

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 2,956 189.95 230.00 209.39 171B 3 Round, outside round 17 21,752 206.00 230.00 212.93 171C 3 Round, eye of round (IM) 22 94,098 213.00 245.00 222.17 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 29 57,465 439.00 454.00 442.91 175 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 32 46,499 414.86 460.00 430.33 184 1 Loin, top butt, bnls, heavy 14 46,845 280.00 290.00 280.27 184 3 Loin, top butt, boneless 31 105,960 285.00 315.00 298.04 185A 4 Loin, bottom sirloin, flap 11 25,070 347.00 390.00 355.77 185B 1 Loin, ball-tip, bnls, heavy 14 18,124 229.45 246.00 233.42 185C 1 Loin, sirloin, tri-tip (IM) 8 17,597 286.64 307.00 298.24 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 34 117,773 855.00 1006.00 866.48 191A 4 Loin, butt tender, trimmed 6 7,713 827.72 845.20 837.45 193 4 Flank, flank steak (IM) 5 25,602 388.96 410.00 390.17 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 79,538 96.00 117.62 99.00 121D 4 Plate, Inside Skirt (IM) 26 35,709 337.00 385.70 360.04 121C 4 Plate, Outside Skirt (IM) 20 58,647 449.71 531.00 476.27 121E 6 Outside Skirt, pld (IM) 6 4,231 665.00 745.00 686.14

Cap, Wedge Meat & (IM) Lean 57 215,819 250.00 280.00 262.10

Pectoral Meat 30 75,046 248.94 290.00 263.13 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 57 372,026 145.00 186.00 152.85 Ground Beef 75% Ground Beef 81% 91 642,774 165.00 226.00 187.21 Ground Beef 85% Ground Beef 90% Ground Beef 93% 27 77,953 248.00 275.00 261.15 Ground Beef Chuck 80% 65 347,829 183.00 213.00 198.12 Ground Beef Round 85% 42 148,512 214.00 235.36 219.83 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% 15 79,207 186.73 211.00 200.72 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 19 587,659 63.00 69.00 64.81 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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