Bloomberg News

USDA Boxed Beef Cutout Closing Prices for March 29

March 29, 2013

March 29 (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: 189.05 188.38 Change from prior day: (0.02) (0.46) ------------------------------------------------------------------------------- Choice/Select spread: 0.67

Total Load Count (Cuts, Trimmings, Grids): 147 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 283.83 287.25 Primal Chuck 158.88 158.91 Primal Round 160.97 161.14 Primal Loin 253.77 247.18 Primal Brisket 132.29 134.71 Primal Short Plate 138.05 141.57 Primal Flank 108.05 105.61 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/28 156 61 8 37 263 189.07 188.84 03/27 133 59 12 36 241 189.96 188.51 03/26 88 41 12 38 179 190.43 189.17 03/25 83 38 11 40 172 190.58 190.21 03/22 66 35 16 23 140 191.43 192.28 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.29 189.80 -------------------------------------------------------------------------------- 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 66.86 loads 2,674,341 pounds Select Cuts 30.97 loads 1,238,662 pounds Trimmings 14.10 loads 564,060 pounds Ground Beef 35.14 load 1,405,761 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 18 15,161 537.00 587.00 550.99 112A 3 Rib, ribeye, bnls, light 8 21,946 609.00 676.00 648.86 112A 3 Rib, ribeye, bnls, heavy 33 101,469 583.74 642.10 602.65 113C 1 Chuck, semi-bnls, neck/off 3 2,777 210.00 211.10 210.23 114 1 Chuck, shoulder clod 14 14,913 186.00 204.89 193.14 114A 3 Chuck, shoulder clod, trmd 33 172,580 198.50 216.00 204.10 114D 3 Chuck, clod, top blade 4 13,814 254.07 280.00 259.97 114E 3 Chuck, clod, arm roast 4 7,444 250.00 261.00 259.76 114F 5 Chuck, clod tender (IM) 14 11,661 360.50 386.00 375.54 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 151,714 225.00 247.26 234.72 116B 1 Chuck, chuck tender (IM) 18 33,865 215.00 224.00 217.30

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 41 244,141 188.00 217.55 196.76 120A 3 Brisket, point/off, bnls 7 4,006 350.00 371.00 354.76 123A 3 Short Plate, short rib 19 33,217 420.50 481.00 450.92 130 4 Chuck, short rib 13 16,698 320.00 340.48 332.87 160 1 Round, bone-in 161 1 Round, boneless 4 5,551 205.00 219.25 214.91

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 50 190,449 218.00 243.36 225.41 168 1 Round, top inside round 21 103,826 191.00 206.04 198.26 168 3 Round, top inside round 39 474,260 202.00 223.00 206.64 169 5 Round, top inside, denuded 3 1,868 234.80 244.25 239.31

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 8,218 185.00 210.00 199.97 171B 3 Round, outside round 32 247,276 195.00 225.00 202.31 171C 3 Round, eye of round (IM) 29 104,792 224.00 242.00 231.69 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 15 18,774 507.92 551.31 534.39 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 4 4,031 459.00 492.00 472.94 180 3 Loin, strip, bnls, 0x1 26 89,588 500.00 576.00 524.73 184 1 Loin, top butt, bnls, heavy 9 20,828 300.00 326.00 302.23 184 3 Loin, top butt, boneless 14 37,434 311.00 343.60 318.12 185A 4 Loin, bottom sirloin, flap 24 76,180 405.00 441.50 409.92 185B 1 Loin, ball-tip, bnls, heavy 26 70,579 223.00 251.56 231.34 185C 1 Loin, sirloin, tri-tip (IM) 9 29,357 260.41 298.00 263.71 185D 4 Loin, tri-tip, pld (IM) 4 1,980 369.00 391.00 377.30 189A 4 Loin, tndrloin, trmd, heavy 33 67,846 865.00 1021.00 900.75 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 27 28,184 386.00 445.00 414.23 ------------------------------------------------------------------------------- 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 13,777 540.00 563.00 546.39 112A 3 Rib, ribeye, bnls, light 8 13,211 589.40 628.75 602.19 112A 3 Rib, ribeye, bnls, heavy 16 38,915 591.75 631.00 599.51 113C 1 Chuck, semi-bnls, neck/off 5 22,182 200.00 210.00 202.24 114 1 Chuck, shoulder clod 7 11,366 192.00 202.00 195.03 114A 3 Chuck, shoulder clod, trmd 11 160,868 198.00 210.75 204.18 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 16 64,829 223.70 244.34 234.62 116B 1 Chuck, chuck tender (IM) 8 14,439 218.00 234.89 220.43

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 13 68,205 193.00 207.00 199.26 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 5,368 440.00 466.00 454.16 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless 3 3,849 201.00 219.25 217.17

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 12 14,129 218.00 235.00 225.19 168 1 Round, top inside round 8 22,616 190.00 215.89 196.20 168 3 Round, top inside round 25 122,675 197.07 222.00 205.81 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 18,693 188.00 210.00 189.99 171B 3 Round, outside round 12 65,241 201.02 216.00 205.58 171C 3 Round, eye of round (IM) 9 22,467 216.00 236.51 226.32 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 22,043 500.00 530.00 517.53 175 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 10 26,817 471.00 535.55 511.21 184 1 Loin, top butt, bnls, heavy 3 2,570 299.06 315.00 302.45 184 3 Loin, top butt, boneless 12 47,169 287.40 330.55 298.72 185A 4 Loin, bottom sirloin, flap 8 55,237 402.11 436.00 405.98 185B 1 Loin, ball-tip, bnls, heavy 5 8,692 230.75 237.00 235.40 185C 1 Loin, sirloin, tri-tip (IM) 7 74,530 258.81 272.00 261.26 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 12 49,815 862.21 900.00 875.03 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 15 20,380 386.00 444.50 395.94 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 16 48,864 112.46 130.00 113.79 121D 4 Plate, Inside Skirt (IM) 16 37,721 349.00 380.05 366.22 121C 4 Plate, Outside Skirt (IM) 12 26,823 425.63 494.50 445.79 121E 6 Outside Skirt, pld (IM) 4 4,043 641.00 711.00 662.55

Cap, Wedge Meat & (IM) Lean 29 160,542 247.75 267.00 251.81

Pectoral Meat 28 100,668 230.00 275.00 243.46 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 186,177 161.00 178.00 164.18 Ground Beef 75% 0 0 Ground Beef 81% 41 784,244 170.00 197.00 174.76 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 3 14,786 259.24 277.34 273.92 Ground Beef Chuck 80% 10 142,959 175.00 203.00 193.75 Ground Beef Round 85% 5 61,940 215.60 231.00 221.67 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% 5 69,100 207.30 214.00 210.21 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 -------------------------------------------------------------------------------- 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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