Bloomberg News

USDA Boxed Beef Cutout Midday Prices for February 22

February 22, 2013

February 22 (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: 182.74 180.53 Change from prior day: 0.39 0.33 ------------------------------------------------------------------------------- Choice/Select spread: 2.21

Total Load Count (Cuts, Trimmings, Grids): 99 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.19 264.71 Primal Chuck 159.64 158.88 Primal Round 156.10 156.64 Primal Loin 240.88 233.16 Primal Brisket 125.65 124.89 Primal Short Plate 128.39 133.47 Primal Flank 100.53 98.57 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 02/21 97 29 4 23 152 182.35 180.20 02/20 117 47 16 42 221 182.31 180.53 02/19 185 85 36 60 366 182.47 180.88 02/15 69 26 15 33 142 181.95 180.40 02/14 81 31 23 12 146 183.53 179.60 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 182.52 180.32 -------------------------------------------------------------------------------- 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 56.81 loads 2,272,400 pounds Select Cuts 23.20 loads 928,148 pounds Trimmings 4.97 loads 198,904 pounds Ground Beef 13.86 load 554,247 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 12 20,154 513.00 541.50 520.77 112A 3 Rib, ribeye, bnls, light 12 13,707 588.05 627.00 604.58 112A 3 Rib, ribeye, bnls, heavy 13 11,292 565.00 601.99 576.30 113C 1 Chuck, semi-bnls, neck/off 4 3,081 210.00 215.00 213.36 114 1 Chuck, shoulder clod 4 28,418 199.00 205.00 200.23 114A 3 Chuck, shoulder clod, trmd 9 55,574 205.00 217.00 207.01 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 4 61,490 247.00 256.71 247.65 114F 5 Chuck, clod tender (IM) 12 7,721 320.00 335.56 329.32 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 121,219 233.00 247.80 236.86 116B 1 Chuck, chuck tender (IM) 14 44,754 220.00 230.50 227.29

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 22 131,106 183.29 203.50 192.44 120A 3 Brisket, point/off, bnls 12 6,816 325.00 357.00 331.29 123A 3 Short Plate, short rib 9 12,788 365.00 448.00 405.21 130 4 Chuck, short rib 11 5,841 310.00 342.00 325.72 160 1 Round, bone-in 3 7,909 191.00 199.00 191.59 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 55,261 207.21 226.00 212.47 168 1 Round, top inside round 30 242,275 180.10 200.00 185.41 168 3 Round, top inside round 18 483,593 188.29 207.00 192.90 169 5 Round, top inside, denuded 6 9,285 220.00 228.00 221.32

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 20 182,689 201.75 225.00 205.47 171C 3 Round, eye of round (IM) 21 145,697 217.00 230.00 220.97 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 18,724 449.30 498.00 454.76 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 4,862 395.00 405.00 399.25 180 3 Loin, strip, bnls, 0x1 17 106,312 440.00 489.80 443.46 184 1 Loin, top butt, bnls, heavy 4 4,621 310.00 310.00 310.00 184 3 Loin, top butt, boneless 12 18,888 313.00 332.00 323.58 185A 4 Loin, bottom sirloin, flap 12 31,905 344.00 380.00 360.30 185B 1 Loin, ball-tip, bnls, heavy 17 74,886 220.00 242.00 225.99 185C 1 Loin, sirloin, tri-tip (IM) 5 19,744 278.00 312.00 280.72 185D 4 Loin, tri-tip, pld (IM) 8 120,838 384.00 415.00 384.13 189A 4 Loin, tndrloin, trmd, heavy 22 40,099 840.00 953.37 893.48 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 7 13,840 402.00 455.00 408.72 ------------------------------------------------------------------------------- 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 8,793 510.00 525.56 513.05 112A 3 Rib, ribeye, bnls, light 4 19,115 560.00 570.00 561.01 112A 3 Rib, ribeye, bnls, heavy 20 75,311 525.00 580.00 552.57 113C 1 Chuck, semi-bnls, neck/off 4 8,024 205.80 215.00 213.06 114 1 Chuck, shoulder clod 3 87,168 200.00 201.00 200.06 114A 3 Chuck, shoulder clod, trmd 3 5,212 210.50 225.00 214.46 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 14 32,969 280.00 325.00 310.38 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 14 105,375 225.00 240.90 230.60 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 6 20,652 183.50 210.00 188.89 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 3 6,258 310.00 325.00 318.15 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 4 30,969 209.58 225.80 209.97 168 1 Round, top inside round 8 77,058 182.00 187.00 185.02 168 3 Round, top inside round 7 154,991 188.00 197.51 195.00 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 5 50,585 199.00 215.50 205.51 171C 3 Round, eye of round (IM) 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 5 4,332 440.00 475.00 450.21 175 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 4 19,403 425.00 475.00 460.43 184 1 Loin, top butt, bnls, heavy 9 11,620 285.00 300.00 287.88 184 3 Loin, top butt, boneless 8 52,143 283.00 315.00 307.28 185A 4 Loin, bottom sirloin, flap 7 36,464 340.00 380.00 344.59 185B 1 Loin, ball-tip, bnls, heavy 6 4,784 225.00 242.00 237.44 185C 1 Loin, sirloin, tri-tip (IM) 4 1,892 285.00 298.00 288.42 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 3 2,782 900.00 995.50 907.41 191A 4 Loin, butt tender, trimmed 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 121D 4 Plate, Inside Skirt (IM) 14 21,354 335.00 380.00 350.50 121C 4 Plate, Outside Skirt (IM) 11 35,651 445.00 510.45 465.81 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 26 77,128 253.00 285.00 265.23

Pectoral Meat 13 62,623 249.39 270.00 252.24 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 11 44,725 152.00 165.00 155.48 Ground Beef 75% 0 0 Ground Beef 81% 13 85,492 175.00 205.00 191.59 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 0 0 Ground Beef Chuck 80% 9 68,149 185.00 204.60 197.14 Ground Beef Round 85% 5 4,834 220.00 234.00 229.66 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% 0 0 Blended Ground Beef 81% 3 19,271 196.00 206.06 198.42 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 8 198,904 65.85 70.00 67.49 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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