Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 183.57 179.06 Change from prior day: 0.12 (0.24) ------------------------------------------------------------------------------- Choice/Select spread: 4.51

Total Load Count (Cuts, Trimmings, Grids): 117 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 273.43 258.99 Primal Chuck 160.32 157.68 Primal Round 157.41 157.33 Primal Loin 242.19 231.09 Primal Brisket 122.77 122.60 Primal Short Plate 128.47 133.73 Primal Flank 98.87 96.01 -------------------------------------------------------------------------------- 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 53.23 loads 2,129,307 pounds Select Cuts 28.60 loads 1,144,177 pounds Trimmings 8.61 loads 344,210 pounds Ground Beef 26.61 load 1,064,335 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 13 9,164 513.00 562.00 532.85 112A 3 Rib, ribeye, bnls, light 14 21,259 594.14 641.00 608.32 112A 3 Rib, ribeye, bnls, heavy 49 112,271 561.00 625.00 582.28 113C 1 Chuck, semi-bnls, neck/off 7 9,183 206.00 219.00 209.29 114 1 Chuck, shoulder clod 10 25,109 195.00 213.98 198.58 114A 3 Chuck, shoulder clod, trmd 28 138,865 208.00 218.56 210.55 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 13 14,219 320.00 335.50 323.59 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 42 103,782 231.00 248.28 235.28 116B 1 Chuck, chuck tender (IM) 13 14,689 215.00 230.87 222.65

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 55 260,094 180.00 194.73 185.99 120A 3 Brisket, point/off, bnls 14 14,418 325.00 367.00 327.11 123A 3 Short Plate, short rib 16 13,282 365.00 400.00 398.93 130 4 Chuck, short rib 22 28,771 300.00 325.00 321.00 160 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 50 170,327 209.47 232.00 217.15 168 1 Round, top inside round 44 277,666 179.29 202.89 184.45 168 3 Round, top inside round 15 82,667 189.78 213.00 196.92 169 5 Round, top inside, denuded 14 19,064 226.00 242.00 227.59

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 2,297 196.86 230.00 223.95 171B 3 Round, outside round 30 170,994 202.47 225.00 207.96 171C 3 Round, eye of round (IM) 33 123,464 213.97 236.00 218.51 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 17 30,185 439.42 494.10 460.20 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 23 16,151 405.00 425.00 408.21 180 3 Loin, strip, bnls, 0x1 49 76,030 461.00 499.00 470.39 184 1 Loin, top butt, bnls, heavy 16 49,911 300.00 316.00 302.28 184 3 Loin, top butt, boneless 19 57,580 310.00 329.00 317.56 185A 4 Loin, bottom sirloin, flap 27 52,803 355.00 412.00 370.65 185B 1 Loin, ball-tip, bnls, heavy 28 44,259 227.00 238.00 231.54 185C 1 Loin, sirloin, tri-tip (IM) 7 6,067 288.00 306.89 293.55 185D 4 Loin, tri-tip, pld (IM) 10 3,617 390.00 406.00 398.17 189A 4 Loin, tndrloin, trmd, heavy 51 28,624 882.48 951.84 907.68 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 14 29,714 390.00 460.00 397.77 ------------------------------------------------------------------------------- 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 3,816 504.00 529.89 510.29 112A 3 Rib, ribeye, bnls, light 11 13,018 567.00 575.00 570.43 112A 3 Rib, ribeye, bnls, heavy 28 42,449 545.00 576.84 568.96 113C 1 Chuck, semi-bnls, neck/off 7 12,982 203.39 220.00 210.65 114 1 Chuck, shoulder clod 9 15,636 196.00 204.00 200.81 114A 3 Chuck, shoulder clod, trmd 10 44,755 205.00 217.28 209.73 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 15 12,312 280.00 295.00 284.42 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 19 124,159 229.02 240.50 231.96 116B 1 Chuck, chuck tender (IM) 13 19,367 223.00 229.89 227.31

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 12 42,767 182.21 190.36 184.96 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 3 1,117 211.00 211.00 211.00

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 19 29,163 209.47 229.00 216.25 168 1 Round, top inside round 20 108,863 179.47 194.30 183.17 168 3 Round, top inside round 5 50,397 192.00 200.00 193.02 169 5 Round, top inside, denuded 8 8,221 227.00 237.50 227.79

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 2,256 190.00 230.00 215.42 171B 3 Round, outside round 13 19,590 206.00 218.00 212.36 171C 3 Round, eye of round (IM) 14 79,765 213.00 235.00 220.60 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 31,071 439.00 454.00 445.00 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 26 31,636 430.00 460.00 433.44 184 1 Loin, top butt, bnls, heavy 11 7,808 280.00 284.50 281.50 184 3 Loin, top butt, boneless 18 44,773 305.00 310.00 306.33 185A 4 Loin, bottom sirloin, flap 6 12,345 347.00 390.00 357.62 185B 1 Loin, ball-tip, bnls, heavy 12 14,942 229.89 246.00 234.11 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 21 52,155 860.00 920.00 867.33 191A 4 Loin, butt tender, trimmed 4 5,406 827.72 845.00 834.15 193 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 5 79,463 96.00 117.62 98.99 121D 4 Plate, Inside Skirt (IM) 16 25,300 350.62 380.00 362.48 121C 4 Plate, Outside Skirt (IM) 8 8,751 470.33 510.00 488.34 121E 6 Outside Skirt, pld (IM) 4 2,661 665.00 745.00 698.61

Cap, Wedge Meat & (IM) Lean 45 167,002 250.00 280.00 261.50

Pectoral Meat 19 29,906 251.42 290.00 266.09 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 37 134,300 149.29 163.50 152.45 Ground Beef 75% Ground Beef 81% 73 321,185 165.00 216.28 186.40 Ground Beef 85% Ground Beef 90% Ground Beef 93% 25 64,598 256.00 275.00 263.50 Ground Beef Chuck 80% 54 240,069 188.00 210.36 197.99 Ground Beef Round 85% 39 113,679 216.05 235.36 221.37 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% 9 41,722 186.73 211.00 205.29 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 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 11 344,210 63.00 69.00 64.42 Frozen 50% lean trimmings 0 0 -------------------------------------------------------------------------------- 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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