Bloomberg News

USDA Boxed Beef Cutout Closing Prices for March 7

March 07, 2013

March 7 (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: 196.90 195.09 Change from prior day: 0.82 0.29 ------------------------------------------------------------------------------- Choice/Select spread: 1.80

Total Load Count (Cuts, Trimmings, Grids): 118 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 288.08 282.33 Primal Chuck 174.77 174.57 Primal Round 173.07 172.58 Primal Loin 252.59 247.09 Primal Brisket 137.58 136.60 Primal Short Plate 136.80 140.44 Primal Flank 109.04 108.07 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/06 73 32 10 26 142 196.08 194.80 03/05 82 40 9 27 159 193.87 191.52 03/04 61 24 5 22 112 190.96 188.08 03/01 83 31 7 22 144 188.10 185.81 02/28 91 30 6 21 148 186.16 185.76 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.03 189.19 -------------------------------------------------------------------------------- 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 59.00 loads 2,360,165 pounds Select Cuts 29.04 loads 1,161,708 pounds Trimmings 7.12 loads 284,835 pounds Ground Beef 23.08 load 923,246 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 28,509 516.03 580.00 524.83 112A 3 Rib, ribeye, bnls, light 14 87,760 603.34 645.15 613.05 112A 3 Rib, ribeye, bnls, heavy 33 39,666 585.00 650.85 633.54 113C 1 Chuck, semi-bnls, neck/off 5 28,626 210.00 221.00 212.45 114 1 Chuck, shoulder clod 11 29,123 206.00 219.78 213.33 114A 3 Chuck, shoulder clod, trmd 33 212,469 212.00 243.00 222.23 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 6 10,847 256.40 300.00 273.47 114F 5 Chuck, clod tender (IM) 17 23,313 340.00 392.00 350.31 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 37 109,014 247.60 270.21 259.72 116B 1 Chuck, chuck tender (IM) 21 50,965 236.74 250.50 244.76

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 29 66,934 193.36 221.00 205.65 120A 3 Brisket, point/off, bnls 9 17,473 348.00 361.00 350.62 123A 3 Short Plate, short rib 16 13,625 405.15 451.50 421.12 130 4 Chuck, short rib 17 23,649 280.34 355.00 326.66 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 49 154,999 228.00 247.00 239.49 168 1 Round, top inside round 22 57,100 193.00 219.00 206.85 168 3 Round, top inside round 33 284,130 210.00 228.00 220.75 169 5 Round, top inside, denuded 8 5,642 240.00 260.21 243.35

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 3,085 209.50 221.25 210.87 171B 3 Round, outside round 41 271,078 210.00 233.00 225.74 171C 3 Round, eye of round (IM) 28 28,930 231.00 257.00 244.87 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 21 21,663 485.00 511.00 498.47 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 8,956 466.50 475.15 469.98 180 3 Loin, strip, bnls, 0x1 16 89,658 460.00 545.00 498.13 184 1 Loin, top butt, bnls, heavy 12 71,456 301.01 324.00 303.73 184 3 Loin, top butt, boneless 20 44,590 308.01 340.00 324.01 185A 4 Loin, bottom sirloin, flap 24 46,968 372.15 421.00 399.56 185B 1 Loin, ball-tip, bnls, heavy 18 41,973 230.00 245.00 232.51 185C 1 Loin, sirloin, tri-tip (IM) 26 128,842 254.00 280.00 257.46 185D 4 Loin, tri-tip, pld (IM) 10 23,090 360.00 408.00 391.58 189A 4 Loin, tndrloin, trmd, heavy 30 79,746 868.59 948.06 900.07 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 13,406 430.00 465.00 439.55 ------------------------------------------------------------------------------- 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 8 2,862 545.00 577.00 549.93 112A 3 Rib, ribeye, bnls, light 5 20,278 558.22 642.00 592.85 112A 3 Rib, ribeye, bnls, heavy 24 55,858 568.00 626.00 595.53 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 5 6,155 195.00 216.50 212.69 114A 3 Chuck, shoulder clod, trmd 11 20,153 214.00 234.90 221.70 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 1,900 320.00 335.00 322.38 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 70,393 246.30 269.90 258.31 116B 1 Chuck, chuck tender (IM) 3 4,409 240.00 255.00 242.71

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 11 39,930 193.36 216.00 200.36 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 4,286 409.00 439.00 417.83 130 4 Chuck, short rib 5 10,247 308.53 332.00 321.53 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 12 51,856 228.00 245.70 236.25 168 1 Round, top inside round 8 15,288 192.88 218.00 206.93 168 3 Round, top inside round 8 68,971 214.44 224.86 218.77 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 3,493 202.68 216.00 211.92 171B 3 Round, outside round 21 85,822 211.41 232.00 222.72 171C 3 Round, eye of round (IM) 11 33,958 230.00 252.50 243.29 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 18,433 465.00 504.50 482.44 175 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 15 24,635 461.00 526.50 487.23 184 1 Loin, top butt, bnls, heavy 10 17,864 301.07 329.50 305.48 184 3 Loin, top butt, boneless 10 112,423 296.27 330.00 306.51 185A 4 Loin, bottom sirloin, flap 12 57,059 372.15 404.75 376.00 185B 1 Loin, ball-tip, bnls, heavy 14 77,337 224.00 240.05 232.33 185C 1 Loin, sirloin, tri-tip (IM) 6 16,230 260.70 275.50 267.86 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 7 10,262 872.00 910.00 884.03 191A 4 Loin, butt tender, trimmed 4 4,317 819.80 833.96 822.74 193 4 Flank, flank steak (IM) 7 21,758 405.00 431.16 427.31 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 10 2,915 110.00 130.00 119.00 121D 4 Plate, Inside Skirt (IM) 19 33,864 357.50 380.00 369.42 121C 4 Plate, Outside Skirt (IM) 12 31,502 427.84 526.00 453.45 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 49 263,822 253.00 285.00 263.52

Pectoral Meat 22 83,526 252.84 290.00 257.37 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 16 105,023 172.05 191.00 177.57 Ground Beef 75% Ground Beef 81% 32 151,481 204.00 225.42 217.69 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 12 38,383 251.72 286.50 280.80 Ground Beef Chuck 80% 20 123,515 214.18 229.90 224.09 Ground Beef Round 85% 20 79,273 239.00 242.32 239.89 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 51,435 186.73 226.60 207.62 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 9 284,835 83.50 87.96 85.27 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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