Bloomberg News

USDA Boxed Beef Cutout Closing Prices for March 1

March 01, 2013

March 1 (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: 188.10 185.81 Change from prior day: 1.94 0.05 ------------------------------------------------------------------------------- Choice/Select spread: 2.29

Total Load Count (Cuts, Trimmings, Grids): 144 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 275.89 265.73 Primal Chuck 165.80 165.36 Primal Round 165.53 164.66 Primal Loin 241.05 235.96 Primal Brisket 134.56 133.26 Primal Short Plate 132.52 136.84 Primal Flank 103.86 104.50 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 02/28 91 30 6 21 148 186.16 185.76 02/27 88 46 10 43 187 185.57 184.87 02/26 92 44 9 22 166 184.51 182.57 02/25 91 36 11 25 163 183.09 180.14 02/22 95 35 13 27 170 182.89 180.19 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 184.44 182.71 -------------------------------------------------------------------------------- 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 83.49 loads 3,339,651 pounds Select Cuts 31.28 loads 1,251,277 pounds Trimmings 7.00 loads 279,818 pounds Ground Beef 22.08 load 883,014 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 29 373,237 508.39 558.00 530.75 112A 3 Rib, ribeye, bnls, light 11 22,277 600.00 681.00 656.71 112A 3 Rib, ribeye, bnls, heavy 23 64,448 549.00 615.00 560.99 113C 1 Chuck, semi-bnls, neck/off 4 9,357 195.00 215.30 206.39 114 1 Chuck, shoulder clod 7 9,004 197.64 220.89 208.85 114A 3 Chuck, shoulder clod, trmd 28 332,433 203.74 230.00 219.94 114D 3 Chuck, clod, top blade 4 14,759 255.00 282.00 260.64 114E 3 Chuck, clod, arm roast 8 16,882 228.00 262.60 252.31 114F 5 Chuck, clod tender (IM) 16 10,341 330.00 360.00 342.20 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 38 206,625 237.00 267.60 250.20 116B 1 Chuck, chuck tender (IM) 21 36,665 224.71 255.00 238.96

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 30 164,204 187.64 220.00 205.78 120A 3 Brisket, point/off, bnls 9 26,202 337.00 361.00 344.61 123A 3 Short Plate, short rib 18 34,703 402.69 468.00 432.58 130 4 Chuck, short rib 10 17,847 308.74 325.21 322.21 160 1 Round, bone-in 3 8,662 198.50 210.22 199.68 161 1 Round, boneless 5 19,101 206.00 215.00 209.24

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 53 243,231 214.31 239.00 227.29 168 1 Round, top inside round 24 105,758 193.00 213.50 199.09 168 3 Round, top inside round 25 101,604 203.00 225.00 210.25 169 5 Round, top inside, denuded 28 109,099 227.00 254.89 234.01

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 36 114,840 200.00 230.89 216.30 171C 3 Round, eye of round (IM) 43 79,063 220.00 251.00 235.07 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 20 96,033 454.00 524.50 469.85 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 7 10,924 408.00 408.00 408.00 180 3 Loin, strip, bnls, 0x1 42 197,050 455.00 508.00 475.77 184 1 Loin, top butt, bnls, heavy 10 14,030 295.00 310.00 298.31 184 3 Loin, top butt, boneless 27 73,460 315.21 340.00 325.61 185A 4 Loin, bottom sirloin, flap 24 166,402 363.44 405.00 373.09 185B 1 Loin, ball-tip, bnls, heavy 12 37,485 215.00 237.50 232.58 185C 1 Loin, sirloin, tri-tip (IM) 23 329,722 263.40 285.00 265.07 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 36 101,798 855.00 1021.00 880.16 191A 4 Loin, butt tender, trimmed 6 10,824 875.60 945.00 895.99 193 4 Flank, flank steak (IM) 12 9,747 381.62 434.00 406.16 ------------------------------------------------------------------------------- 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 112A 3 Rib, ribeye, bnls, light 6 24,089 549.00 600.00 575.41 112A 3 Rib, ribeye, bnls, heavy 20 46,310 549.00 605.00 559.34 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 7 71,371 198.00 210.00 202.17 114A 3 Chuck, shoulder clod, trmd 12 116,336 200.00 220.00 216.89 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 10 28,565 290.00 330.50 323.60 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 27 99,571 238.00 260.54 245.71 116B 1 Chuck, chuck tender (IM) 10 14,019 224.71 240.43 232.89

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 42,387 187.64 214.89 201.22 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 6 12,596 410.00 451.00 432.62 130 4 Chuck, short rib 3 3,885 314.00 320.00 316.58 160 1 Round, bone-in 161 1 Round, boneless 3 5,766 205.75 211.00 210.41

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 14 134,989 216.00 240.89 230.58 168 1 Round, top inside round 10 38,777 183.96 213.50 198.43 168 3 Round, top inside round 21 113,624 193.00 217.00 208.03 169 5 Round, top inside, denuded 9 4,973 230.00 251.50 240.70

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 12 45,275 202.00 225.00 213.17 171C 3 Round, eye of round (IM) 8 7,604 221.00 245.89 231.81 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 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 9 69,980 431.00 476.00 446.62 184 1 Loin, top butt, bnls, heavy 8 6,616 290.00 305.00 295.71 184 3 Loin, top butt, boneless 6 10,322 298.00 331.00 307.70 185A 4 Loin, bottom sirloin, flap 11 46,979 356.03 400.00 370.49 185B 1 Loin, ball-tip, bnls, heavy 16 25,837 230.00 239.00 235.36 185C 1 Loin, sirloin, tri-tip (IM) 11 89,631 263.25 285.00 265.84 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 7 12,293 842.00 1003.00 888.13 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 12,635 405.93 445.00 432.13 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 2,091 98.00 121.00 115.26 121D 4 Plate, Inside Skirt (IM) 26 63,101 347.54 380.00 357.73 121C 4 Plate, Outside Skirt (IM) 11 16,082 442.80 510.00 497.01 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 31 95,823 246.00 285.00 266.92

Pectoral Meat 22 97,899 243.00 290.00 251.17 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 21 175,382 160.05 174.00 169.23 Ground Beef 75% Ground Beef 81% 18 88,983 195.00 214.50 206.59 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 9 8,209 260.05 281.00 269.23 Ground Beef Chuck 80% 7 6,266 203.43 220.00 206.55 Ground Beef Round 85% 6 19,033 223.00 236.27 233.99 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% 4 38,253 183.00 202.30 198.45 Blended Ground Beef 85% Blended Ground Beef 90% 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 10 226,378 75.00 81.50 77.98 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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