Bloomberg News

USDA Boxed Beef Cutout Midday Prices for February 14

February 14, 2013

February 14 (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: 183.74 180.01 Change from prior day: 0.06 0.69 ------------------------------------------------------------------------------- Choice/Select spread: 3.73

Total Load Count (Cuts, Trimmings, Grids): 80 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.33 267.79 Primal Chuck 160.27 158.13 Primal Round 156.43 157.64 Primal Loin 244.70 229.39 Primal Brisket 123.52 123.34 Primal Short Plate 129.40 134.66 Primal Flank 98.86 96.05 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 02/13 103 48 15 49 215 183.68 179.32 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 183.08 179.71 -------------------------------------------------------------------------------- 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 45.98 loads 1,839,148 pounds Select Cuts 19.95 loads 798,004 pounds Trimmings 6.26 loads 250,200 pounds Ground Beef 8.26 load 330,362 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 9 6,396 510.31 560.47 531.91 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 33 97,948 548.00 644.00 564.25 113C 1 Chuck, semi-bnls, neck/off 4 9,420 208.50 215.00 210.52 114 1 Chuck, shoulder clod 7 18,717 189.45 204.00 199.23 114A 3 Chuck, shoulder clod, trmd 17 139,757 203.00 216.00 210.94 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 4 2,931 255.00 273.67 257.39 114F 5 Chuck, clod tender (IM) 5 5,246 282.00 329.25 314.43 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 72,150 231.00 241.74 235.03 116B 1 Chuck, chuck tender (IM) 12 19,884 215.43 230.00 224.28

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 154,243 183.00 192.00 185.73 120A 3 Brisket, point/off, bnls 3 2,453 325.00 325.00 325.00 123A 3 Short Plate, short rib 15 19,161 390.00 445.00 425.02 130 4 Chuck, short rib 11 12,284 299.42 335.00 312.26 160 1 Round, bone-in 5 9,933 188.00 210.51 196.01 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 23 119,114 208.00 232.00 214.07 168 1 Round, top inside round 25 70,091 182.00 200.00 188.37 168 3 Round, top inside round 24 127,703 188.33 211.00 202.72 169 5 Round, top inside, denuded 8 51,325 227.00 245.00 235.44

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 23 50,701 204.24 221.00 211.38 171C 3 Round, eye of round (IM) 15 25,285 219.00 243.57 228.36 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 19,772 456.00 511.72 468.88 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 6,392 405.00 428.67 411.87 180 3 Loin, strip, bnls, 0x1 11 34,847 458.00 495.00 462.09 184 1 Loin, top butt, bnls, heavy 6 5,555 310.00 330.00 314.91 184 3 Loin, top butt, boneless 12 28,942 314.45 339.50 332.30 185A 4 Loin, bottom sirloin, flap 27 286,959 350.00 370.00 359.20 185B 1 Loin, ball-tip, bnls, heavy 19 49,311 218.81 232.00 226.68 185C 1 Loin, sirloin, tri-tip (IM) 7 11,181 281.00 305.00 290.96 185D 4 Loin, tri-tip, pld (IM) 6 4,467 390.00 401.00 396.51 189A 4 Loin, tndrloin, trmd, heavy 35 247,721 848.78 944.00 857.51 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 8 16,244 405.00 460.00 419.64 ------------------------------------------------------------------------------- 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 6 6,730 501.94 521.84 512.36 112A 3 Rib, ribeye, bnls, light 6 36,871 556.00 579.50 569.78 112A 3 Rib, ribeye, bnls, heavy 8 15,629 550.00 570.00 557.01 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 7 51,895 198.00 213.96 203.45 114A 3 Chuck, shoulder clod, trmd 4 14,743 208.14 210.80 210.05 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 8,100 307.73 325.00 320.08 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 10 36,147 220.30 240.59 230.40 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 5 131,914 183.00 190.00 188.29 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 7,163 368.89 435.00 402.60 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 7 24,039 208.47 216.44 211.38 168 1 Round, top inside round 5 11,636 186.00 197.00 195.88 168 3 Round, top inside round 9 11,259 194.00 223.96 205.51 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 70,325 185.00 230.00 187.99 171B 3 Round, outside round 6 7,918 197.73 213.00 207.24 171C 3 Round, eye of round (IM) 3 3,270 220.00 235.00 222.75 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 5 2,306 438.81 482.00 454.75 175 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 11 58,555 388.78 469.00 417.37 184 1 Loin, top butt, bnls, heavy 5 3,405 280.00 290.00 281.82 184 3 Loin, top butt, boneless 5 2,861 305.00 309.68 306.12 185A 4 Loin, bottom sirloin, flap 4 26,123 344.00 365.00 355.64 185B 1 Loin, ball-tip, bnls, heavy 14 43,044 218.81 240.00 228.64 185C 1 Loin, sirloin, tri-tip (IM) 3 2,688 285.00 290.00 286.84 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 8 69,273 850.00 930.00 859.30 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 4 21,715 389.88 444.00 390.77 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 14 46,867 98.57 121.00 103.21 121D 4 Plate, Inside Skirt (IM) 7 16,188 350.05 380.00 358.26 121C 4 Plate, Outside Skirt (IM) 8 8,136 472.11 535.00 503.55 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 15 35,478 256.00 279.00 268.98

Pectoral Meat 9 10,239 254.13 290.00 268.75 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 8 49,391 148.00 165.00 153.77 Ground Beef 75% Ground Beef 81% 20 103,124 170.00 198.11 185.16 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 6 11,241 254.05 275.30 261.99 Ground Beef Chuck 80% 12 85,286 185.00 206.00 196.45 Ground Beef Round 85% 4 18,112 211.00 222.00 218.41 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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% 4 19,044 193.30 211.00 209.39 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 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 0 0 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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