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USDA Boxed Beef Cutout Midday Prices for March 22

March 22, 2013

March 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: 192.17 193.04 Change from prior day: (0.81) (0.20) ------------------------------------------------------------------------------- Choice/Select spread: (0.87)

Total Load Count (Cuts, Trimmings, Grids): 74 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 288.59 287.60 Primal Chuck 167.25 169.56 Primal Round 164.94 165.14 Primal Loin 248.79 249.72 Primal Brisket 137.46 136.77 Primal Short Plate 137.60 140.84 Primal Flank 109.60 105.47 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/21 103 39 3 21 167 192.98 193.24 03/20 114 37 5 39 195 193.41 193.03 03/19 96 39 15 30 180 194.18 193.65 03/18 79 27 10 16 132 195.84 193.71 03/15 41 20 8 25 93 195.76 193.93 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 194.43 193.51 -------------------------------------------------------------------------------- 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 47.91 loads 1,916,355 pounds Select Cuts 13.26 loads 530,440 pounds Trimmings 0.00 loads 0 pounds Ground Beef 12.73 load 509,091 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 15 130,082 540.00 574.00 556.09 112A 3 Rib, ribeye, bnls, light 4 3,631 606.00 620.00 617.12 112A 3 Rib, ribeye, bnls, heavy 21 26,835 593.00 641.89 611.40 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 5 4,749 197.00 215.98 207.35 114A 3 Chuck, shoulder clod, trmd 19 46,975 204.00 227.00 210.54 114D 3 Chuck, clod, top blade 7 20,624 245.00 282.03 267.07 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 4,502 350.00 372.00 364.09 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 35 98,839 224.00 270.00 237.67 116B 1 Chuck, chuck tender (IM) 12 33,583 215.00 239.98 223.17

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 19 67,968 193.36 220.00 206.32 120A 3 Brisket, point/off, bnls 3 2,516 355.00 363.00 358.99 123A 3 Short Plate, short rib 13 22,673 415.00 478.00 439.61 130 4 Chuck, short rib 17 48,443 320.00 340.15 324.93 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 33 277,364 218.85 233.65 221.54 168 1 Round, top inside round 21 126,745 192.00 220.00 195.23 168 3 Round, top inside round 21 135,089 205.00 216.50 206.74 169 5 Round, top inside, denuded 5 10,499 232.00 242.00 233.10

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 9,126 197.00 220.00 204.74 171B 3 Round, outside round 20 58,693 206.00 223.00 212.77 171C 3 Round, eye of round (IM) 13 29,323 233.00 250.00 241.29 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 8,016 480.00 518.00 494.67 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 3 2,811 458.00 466.00 459.07 180 3 Loin, strip, bnls, 0x1 17 55,222 494.00 542.00 522.08 184 1 Loin, top butt, bnls, heavy 10 11,611 295.00 318.00 296.88 184 3 Loin, top butt, boneless 23 264,783 301.77 338.50 308.77 185A 4 Loin, bottom sirloin, flap 13 39,099 387.15 429.00 406.02 185B 1 Loin, ball-tip, bnls, heavy 15 58,956 229.51 250.00 233.23 185C 1 Loin, sirloin, tri-tip (IM) 6 6,433 261.90 291.89 266.67 185D 4 Loin, tri-tip, pld (IM) 8 10,661 345.00 370.00 353.21 189A 4 Loin, tndrloin, trmd, heavy 21 231,007 860.88 895.00 883.34 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 8 10,119 383.00 436.00 394.17 ------------------------------------------------------------------------------- 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 7,948 531.40 558.00 542.87 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 8 7,216 615.00 640.00 623.99 113C 1 Chuck, semi-bnls, neck/off 3 2,980 207.73 225.00 209.27 114 1 Chuck, shoulder clod 4 7,897 195.00 206.00 196.98 114A 3 Chuck, shoulder clod, trmd 6 10,830 204.00 218.00 207.79 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 23,631 325.00 340.00 326.67 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 13 53,678 230.00 259.00 238.64 116B 1 Chuck, chuck tender (IM) 4 25,934 218.15 236.00 219.15

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 13 65,173 193.36 229.70 201.39 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 3,406 440.00 466.00 446.21 130 4 Chuck, short rib 5 51,372 321.00 322.00 321.98 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 8 25,072 219.00 234.00 224.44 168 1 Round, top inside round 10 59,244 192.00 215.80 199.09 168 3 Round, top inside round 8 18,381 205.00 222.00 208.83 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 4,193 184.02 220.00 202.53 171B 3 Round, outside round 11 47,165 198.88 227.98 206.38 171C 3 Round, eye of round (IM) 3 3,974 236.25 240.02 238.49 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 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 5 8,929 517.89 535.00 525.32 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 3 2,491 316.92 340.00 325.86 185A 4 Loin, bottom sirloin, flap 3 1,413 401.00 421.00 409.75 185B 1 Loin, ball-tip, bnls, heavy 10 27,261 223.00 240.00 232.01 185C 1 Loin, sirloin, tri-tip (IM) 4 4,242 248.00 274.73 261.79 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 9 11,976 819.50 933.00 872.61 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 9,388 380.88 416.00 393.92 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 4 10,142 108.00 130.00 111.77 121D 4 Plate, Inside Skirt (IM) 6 3,926 361.00 380.00 368.89 121C 4 Plate, Outside Skirt (IM) 3 1,627 536.00 560.00 536.34 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 12 40,170 242.76 275.00 260.22

Pectoral Meat 9 19,330 237.00 266.10 245.05 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 10 48,670 166.00 188.00 176.73 Ground Beef 75% 0 0 Ground Beef 81% 18 92,459 192.00 225.98 205.55 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 4 3,884 262.51 278.50 271.17 Ground Beef Chuck 80% 9 26,052 203.23 225.00 209.20 Ground Beef Round 85% 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% 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 0 0 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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