Bloomberg News

USDA Boxed Beef Cutout Closing Prices for February 15

February 15, 2013

February 15 (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: 181.95 180.40 Change from prior day: (1.58) 0.80 ------------------------------------------------------------------------------- Choice/Select spread: 1.55

Total Load Count (Cuts, Trimmings, Grids): 142 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 270.85 264.59 Primal Chuck 158.60 160.75 Primal Round 157.34 158.45 Primal Loin 238.42 229.02 Primal Brisket 123.41 123.80 Primal Short Plate 127.11 132.30 Primal Flank 100.40 96.69 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 02/14 81 31 23 12 146 183.53 179.60 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 183.10 179.40 -------------------------------------------------------------------------------- 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 69.04 loads 2,761,420 pounds Select Cuts 25.89 loads 1,035,662 pounds Trimmings 14.96 loads 598,574 pounds Ground Beef 32.51 load 1,300,222 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 21 38,135 513.00 564.50 523.30 112A 3 Rib, ribeye, bnls, light 6 7,431 550.18 622.00 579.55 112A 3 Rib, ribeye, bnls, heavy 16 18,542 545.00 603.00 562.02 113C 1 Chuck, semi-bnls, neck/off 4 12,808 200.00 215.00 203.10 114 1 Chuck, shoulder clod 5 5,977 198.00 213.89 200.68 114A 3 Chuck, shoulder clod, trmd 24 111,455 208.00 222.50 211.24 114D 3 Chuck, clod, top blade 8 13,561 250.00 295.00 269.51 114E 3 Chuck, clod, arm roast 10 45,509 236.00 275.00 240.38 114F 5 Chuck, clod tender (IM) 8 12,006 312.00 339.00 324.51 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 34 136,298 219.75 254.00 233.64 116B 1 Chuck, chuck tender (IM) 18 26,760 218.00 235.50 226.02

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 49 678,334 183.00 203.00 187.41 120A 3 Brisket, point/off, bnls 9 12,594 325.00 363.00 327.26 123A 3 Short Plate, short rib 7 14,782 400.00 410.00 402.06 130 4 Chuck, short rib 10 9,582 288.84 331.67 315.38 160 1 Round, bone-in 161 1 Round, boneless 4 2,383 201.00 212.00 206.90

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 53 282,382 205.00 239.50 211.80 168 1 Round, top inside round 16 134,494 179.54 202.89 185.61 168 3 Round, top inside round 34 229,257 182.00 220.00 195.13 169 5 Round, top inside, denuded 12 19,888 222.00 257.00 226.86

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 1,990 206.00 221.00 208.72 171B 3 Round, outside round 30 81,863 198.74 222.00 207.47 171C 3 Round, eye of round (IM) 23 36,385 211.81 245.00 228.14 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 18 221,517 393.74 524.50 433.44 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 14 17,646 405.00 426.50 409.61 180 3 Loin, strip, bnls, 0x1 36 166,262 454.75 497.80 461.96 184 1 Loin, top butt, bnls, heavy 8 8,313 303.00 325.00 309.32 184 3 Loin, top butt, boneless 20 76,025 310.27 352.89 323.70 185A 4 Loin, bottom sirloin, flap 20 31,461 347.64 400.00 368.15 185B 1 Loin, ball-tip, bnls, heavy 9 18,472 223.00 238.00 229.93 185C 1 Loin, sirloin, tri-tip (IM) 9 11,553 279.97 304.00 292.26 185D 4 Loin, tri-tip, pld (IM) 6 4,803 387.00 411.00 397.21 189A 4 Loin, tndrloin, trmd, heavy 25 60,207 848.00 1041.00 867.52 191A 4 Loin, butt tender, trimmed 8 26,902 837.10 848.94 841.79 193 4 Flank, flank steak (IM) 15 15,684 395.72 465.00 415.52 ------------------------------------------------------------------------------- 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 5 14,505 510.00 514.00 511.97 112A 3 Rib, ribeye, bnls, light 7 42,276 534.00 574.23 550.91 112A 3 Rib, ribeye, bnls, heavy 16 40,169 550.00 575.00 559.69 113C 1 Chuck, semi-bnls, neck/off 8 11,456 209.00 235.00 215.24 114 1 Chuck, shoulder clod 10 101,639 196.00 211.02 197.66 114A 3 Chuck, shoulder clod, trmd 6 12,627 208.00 225.00 210.07 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 2,543 280.00 320.50 302.17 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 8 20,907 230.80 244.98 236.56 116B 1 Chuck, chuck tender (IM) 10 17,631 224.00 230.00 226.81

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 13 61,669 184.00 208.00 186.89 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 11,105 365.00 431.00 386.63 130 4 Chuck, short rib 5 6,844 306.00 325.00 320.46 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 11 27,750 199.53 240.00 208.45 168 1 Round, top inside round 6 17,457 172.79 221.02 204.91 168 3 Round, top inside round 9 92,453 182.00 206.00 194.98 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 9 168,200 182.00 230.00 191.01 171B 3 Round, outside round 10 17,725 199.59 221.00 211.69 171C 3 Round, eye of round (IM) 7 7,623 211.81 235.00 218.66 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 6 13,317 429.00 445.00 443.04 175 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 13 31,048 396.81 450.00 416.90 184 1 Loin, top butt, bnls, heavy 9 59,460 266.24 300.00 273.29 184 3 Loin, top butt, boneless 7 11,412 302.00 325.00 303.70 185A 4 Loin, bottom sirloin, flap 9 20,415 346.00 376.00 352.17 185B 1 Loin, ball-tip, bnls, heavy 6 5,224 220.00 236.89 229.80 185C 1 Loin, sirloin, tri-tip (IM) 5 2,548 284.00 305.00 289.38 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 16 77,574 839.00 910.00 848.86 191A 4 Loin, butt tender, trimmed 8 29,508 835.00 854.10 836.31 193 4 Flank, flank steak (IM) 4 3,757 372.00 428.00 402.17 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 2,213 109.62 130.00 123.06 121D 4 Plate, Inside Skirt (IM) 22 40,334 344.59 380.00 359.41 121C 4 Plate, Outside Skirt (IM) 24 57,804 397.79 530.00 446.83 121E 6 Outside Skirt, pld (IM) 3 5,025 585.30 666.00 621.43

Cap, Wedge Meat & (IM) Lean 22 52,569 256.55 275.00 269.64

Pectoral Meat 17 88,843 246.33 290.00 249.31 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 22 157,007 143.00 163.00 153.66 Ground Beef 75% Ground Beef 81% 23 140,894 174.24 196.00 188.64 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 5 21,855 255.50 263.50 259.87 Ground Beef Chuck 80% 9 50,147 188.00 202.00 190.80 Ground Beef Round 85% 7 22,831 217.50 223.00 221.51 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% 12 194,723 181.15 207.76 207.14 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 19 480,414 63.00 72.00 65.19 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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