Bloomberg News

USDA Boxed Beef Cutout Midday 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 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: 182.83 180.71 Change from prior day: (0.70) 1.11 ------------------------------------------------------------------------------- Choice/Select spread: 2.11

Total Load Count (Cuts, Trimmings, Grids): 79 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 270.33 264.35 Primal Chuck 158.15 160.00 Primal Round 157.87 159.88 Primal Loin 241.76 228.95 Primal Brisket 122.98 124.46 Primal Short Plate 130.31 135.44 Primal Flank 101.49 96.67 -------------------------------------------------------------------------------- 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 32.74 loads 1,309,739 pounds Select Cuts 13.09 loads 523,481 pounds Trimmings 3.59 loads 143,737 pounds Ground Beef 29.31 load 1,172,498 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 15 16,806 513.00 564.50 522.43 112A 3 Rib, ribeye, bnls, light 4 5,189 550.18 614.00 561.20 112A 3 Rib, ribeye, bnls, heavy 9 11,509 550.18 603.00 564.25 113C 1 Chuck, semi-bnls, neck/off 3 3,238 210.00 215.00 212.25 114 1 Chuck, shoulder clod 3 2,411 201.00 213.50 202.46 114A 3 Chuck, shoulder clod, trmd 12 54,341 199.00 221.00 210.66 114D 3 Chuck, clod, top blade 6 11,620 257.64 295.00 270.32 114E 3 Chuck, clod, arm roast 7 39,619 236.00 275.00 238.03 114F 5 Chuck, clod tender (IM) 6 10,876 320.00 339.00 324.36 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 18 112,079 230.00 243.00 233.45 116B 1 Chuck, chuck tender (IM) 13 20,187 220.00 235.50 225.83

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 28 150,280 183.00 203.00 185.54 120A 3 Brisket, point/off, bnls 8 12,368 325.00 363.00 327.12 123A 3 Short Plate, short rib 3 9,982 400.00 400.00 400.00 130 4 Chuck, short rib 5 4,187 305.50 325.00 313.79 160 1 Round, bone-in 161 1 Round, boneless 3 1,133 201.00 212.00 204.59

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 31 117,487 205.00 239.50 213.14 168 1 Round, top inside round 8 55,935 187.01 190.00 189.11 168 3 Round, top inside round 17 55,125 189.57 220.00 197.64 169 5 Round, top inside, denuded 11 18,505 222.00 257.00 226.85

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 18 54,832 199.59 222.00 207.66 171C 3 Round, eye of round (IM) 12 25,316 211.81 235.00 226.00 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 11 98,190 393.74 524.50 421.06 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 14 17,646 405.00 426.50 409.61 180 3 Loin, strip, bnls, 0x1 24 122,232 455.00 490.00 461.71 184 1 Loin, top butt, bnls, heavy 6 7,081 310.00 325.00 310.34 184 3 Loin, top butt, boneless 11 22,088 310.27 343.00 331.81 185A 4 Loin, bottom sirloin, flap 11 13,377 347.64 391.00 372.78 185B 1 Loin, ball-tip, bnls, heavy 7 13,182 230.00 238.00 231.64 185C 1 Loin, sirloin, tri-tip (IM) 7 5,168 285.00 304.00 298.25 185D 4 Loin, tri-tip, pld (IM) 5 4,729 387.00 411.00 397.07 189A 4 Loin, tndrloin, trmd, heavy 16 50,391 848.00 930.55 864.24 191A 4 Loin, butt tender, trimmed 8 26,902 837.10 848.94 841.79 193 4 Flank, flank steak (IM) 8 3,806 418.19 465.00 455.05 ------------------------------------------------------------------------------- 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 3 1,637 513.00 513.00 513.00 112A 3 Rib, ribeye, bnls, light 3 30,269 550.00 555.63 550.58 112A 3 Rib, ribeye, bnls, heavy 16 40,169 550.00 575.00 559.69 113C 1 Chuck, semi-bnls, neck/off 5 10,132 209.00 215.00 214.54 114 1 Chuck, shoulder clod 8 100,358 196.00 211.02 197.63 114A 3 Chuck, shoulder clod, trmd 4 10,849 208.00 225.00 209.72 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 4 2,202 280.00 320.50 305.61 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 4 14,936 230.80 244.98 237.44 116B 1 Chuck, chuck tender (IM) 9 13,813 224.00 230.00 226.49

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 11 20,659 188.00 208.00 192.61 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 5 4,115 365.00 431.00 409.75 130 4 Chuck, short rib 3 5,582 306.00 325.00 322.47 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 7 23,374 197.64 215.00 204.97 168 1 Round, top inside round 4 15,597 188.00 221.02 208.44 168 3 Round, top inside round 3 4,551 200.00 206.00 202.46 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 1,128 230.00 230.00 230.00 171B 3 Round, outside round 4 4,234 209.50 221.00 215.17 171C 3 Round, eye of round (IM) 5 6,130 211.81 235.00 216.51 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 5 11,441 445.00 460.00 445.08 175 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 7 21,286 396.81 440.00 420.37 184 1 Loin, top butt, bnls, heavy 8 18,956 280.00 300.00 288.34 184 3 Loin, top butt, boneless 185A 4 Loin, bottom sirloin, flap 5 9,732 349.00 376.00 357.60 185B 1 Loin, ball-tip, bnls, heavy 4 3,309 230.00 236.89 232.05 185C 1 Loin, sirloin, tri-tip (IM) 4 1,101 284.62 305.00 296.45 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 11 71,700 839.00 910.00 846.15 191A 4 Loin, butt tender, trimmed 4 2,249 845.00 854.10 852.21 193 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 3 1,923 109.62 125.00 122.02 121D 4 Plate, Inside Skirt (IM) 12 15,406 344.59 380.00 350.02 121C 4 Plate, Outside Skirt (IM) 19 23,105 458.00 530.00 500.13 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 20 40,201 256.55 275.00 270.09

Pectoral Meat 13 85,340 246.33 290.00 248.22 ------------------------------------------------------------------------------- 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% 17 110,724 189.00 196.00 191.29 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 4 19,424 258.78 263.50 260.42 Ground Beef Chuck 80% 8 40,797 188.00 202.00 191.39 Ground Beef Round 85% 6 22,239 217.50 223.00 221.52 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% 11 186,723 181.15 207.76 207.35 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 7 120,987 65.00 72.00 68.30 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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