Bloomberg News

USDA Boxed Beef Cutout Closing Prices for March 4

March 04, 2013

March 4 (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: 190.96 188.08 Change from prior day: 2.86 2.27 ------------------------------------------------------------------------------- Choice/Select spread: 2.88

Total Load Count (Cuts, Trimmings, Grids): 112 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 279.75 267.43 Primal Chuck 167.68 166.84 Primal Round 167.45 166.54 Primal Loin 246.47 240.33 Primal Brisket 135.60 133.60 Primal Short Plate 135.38 139.46 Primal Flank 104.69 106.95 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/01 83 31 7 22 144 188.10 185.81 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 185.49 183.83 -------------------------------------------------------------------------------- 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 61.41 loads 2,456,341 pounds Select Cuts 23.79 loads 951,737 pounds Trimmings 4.78 loads 191,336 pounds Ground Beef 22.18 load 887,015 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 28 76,173 529.62 579.50 538.53 112A 3 Rib, ribeye, bnls, light 9 10,152 585.00 635.00 619.38 112A 3 Rib, ribeye, bnls, heavy 32 40,246 577.00 635.00 597.79 113C 1 Chuck, semi-bnls, neck/off 4 39,916 190.00 215.00 191.75 114 1 Chuck, shoulder clod 5 20,722 202.00 214.80 213.30 114A 3 Chuck, shoulder clod, trmd 18 56,616 207.00 232.00 220.59 114D 3 Chuck, clod, top blade 12 75,840 254.00 285.90 261.60 114E 3 Chuck, clod, arm roast 17 34,038 253.00 273.00 256.75 114F 5 Chuck, clod tender (IM) 5 3,563 330.00 349.90 339.76 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 46 475,394 238.24 262.00 252.39 116B 1 Chuck, chuck tender (IM) 19 29,747 230.00 248.00 239.03

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 35 83,077 188.50 220.00 201.72 120A 3 Brisket, point/off, bnls 13 4,451 339.00 374.00 358.09 123A 3 Short Plate, short rib 36 66,188 365.00 466.00 401.27 130 4 Chuck, short rib 23 57,283 290.00 337.00 319.21 160 1 Round, bone-in 161 1 Round, boneless 4 7,648 194.00 229.46 212.75

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 38 62,833 216.00 240.50 228.39 168 1 Round, top inside round 13 42,073 193.00 207.99 195.24 168 3 Round, top inside round 22 90,072 200.00 225.00 214.89 169 5 Round, top inside, denuded 21 66,889 228.00 237.00 230.38

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 1,978 199.50 224.90 211.20 171B 3 Round, outside round 44 178,350 200.00 237.01 222.16 171C 3 Round, eye of round (IM) 41 146,228 228.00 252.60 243.61 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 48,610 458.35 501.00 470.76 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 43 131,806 455.00 519.58 480.31 184 1 Loin, top butt, bnls, heavy 11 8,009 295.00 327.00 310.59 184 3 Loin, top butt, boneless 30 104,968 310.88 352.50 322.41 185A 4 Loin, bottom sirloin, flap 19 31,848 364.00 395.20 380.32 185B 1 Loin, ball-tip, bnls, heavy 22 73,477 217.37 247.50 234.16 185C 1 Loin, sirloin, tri-tip (IM) 4 8,857 265.00 285.00 266.98 185D 4 Loin, tri-tip, pld (IM) 12 14,063 380.00 439.00 409.32 189A 4 Loin, tndrloin, trmd, heavy 30 59,862 853.37 1036.00 916.72 191A 4 Loin, butt tender, trimmed 7 10,612 864.94 942.00 889.81 193 4 Flank, flank steak (IM) 21 17,934 405.50 440.00 422.48 ------------------------------------------------------------------------------- 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 9 4,953 524.00 561.00 541.51 112A 3 Rib, ribeye, bnls, light 6 29,307 599.58 610.15 604.98 112A 3 Rib, ribeye, bnls, heavy 20 30,261 562.00 604.00 580.61 113C 1 Chuck, semi-bnls, neck/off 7 26,742 190.00 232.00 214.33 114 1 Chuck, shoulder clod 6 10,719 200.00 216.50 208.80 114A 3 Chuck, shoulder clod, trmd 6 25,026 217.00 225.00 221.24 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 9,622 290.00 323.00 309.33 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 14 78,212 241.60 259.96 256.76 116B 1 Chuck, chuck tender (IM) 8 10,791 224.00 245.00 233.76

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 13 25,077 191.00 217.00 199.76 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 8 12,163 390.00 451.00 412.33 130 4 Chuck, short rib 4 3,109 315.00 329.00 326.67 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 10 59,104 205.00 234.92 216.78 168 1 Round, top inside round 10 44,381 193.00 208.00 199.07 168 3 Round, top inside round 11 42,671 203.00 220.50 216.47 169 5 Round, top inside, denuded 3 4,694 230.00 256.00 243.74

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 7 93,547 211.00 227.80 222.90 171C 3 Round, eye of round (IM) 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 8,060 451.62 493.63 478.06 175 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 20 48,212 430.00 482.25 454.81 184 1 Loin, top butt, bnls, heavy 0 0 184 3 Loin, top butt, boneless 7 9,796 288.00 320.00 311.45 185A 4 Loin, bottom sirloin, flap 3 6,725 369.61 375.65 370.02 185B 1 Loin, ball-tip, bnls, heavy 8 61,397 227.00 239.12 231.48 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 26,869 853.00 951.00 894.65 191A 4 Loin, butt tender, trimmed 9 3,392 806.00 820.00 812.63 193 4 Flank, flank steak (IM) 6 12,999 418.00 448.00 432.48 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 2,850 111.00 125.00 113.22 121D 4 Plate, Inside Skirt (IM) 55 184,789 351.00 385.00 364.92 121C 4 Plate, Outside Skirt (IM) 8 15,861 447.00 521.00 456.54 121E 6 Outside Skirt, pld (IM) 11 37,130 603.35 745.00 630.15

Cap, Wedge Meat & (IM) Lean 30 117,641 250.00 275.00 264.60

Pectoral Meat 22 51,534 250.00 272.00 259.01 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 22 209,164 163.00 184.00 168.03 Ground Beef 75% Ground Beef 81% 21 83,654 192.50 218.06 203.20 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 7 43,481 256.05 280.00 260.63 Ground Beef Chuck 80% 22 155,167 203.00 229.46 211.89 Ground Beef Round 85% 10 30,835 222.00 240.00 230.86 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% 9 70,327 199.25 216.60 203.48 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 11 182,026 76.87 83.50 79.85 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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