Bloomberg News

USDA Boxed Beef Cutout Closing Prices for April 10

April 10, 2013

April 10 (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: 190.95 185.57 Change from prior day: (0.46) (1.45) ------------------------------------------------------------------------------- Choice/Select spread: 5.38

Total Load Count (Cuts, Trimmings, Grids): 192 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 276.39 264.36 Primal Chuck 159.78 159.89 Primal Round 161.84 161.65 Primal Loin 264.05 244.80 Primal Brisket 133.77 132.47 Primal Short Plate 137.51 140.53 Primal Flank 110.07 107.74 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/09 70 31 2 28 132 191.41 187.02 04/08 90 48 16 24 177 190.95 186.46 04/05 49 32 0 23 104 191.32 187.01 04/04 60 35 4 45 144 191.72 188.25 04/03 97 55 8 41 200 191.48 188.61 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.38 187.47 -------------------------------------------------------------------------------- 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 80.32 loads 3,212,694 pounds Select Cuts 64.96 loads 2,598,306 pounds Trimmings 6.11 loads 244,354 pounds Ground Beef 40.47 load 1,618,722 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 35 85,005 505.00 564.00 516.16 112A 3 Rib, ribeye, bnls, light 38 201,893 550.00 622.00 562.61 112A 3 Rib, ribeye, bnls, heavy 90 132,207 560.67 622.00 580.11 113C 1 Chuck, semi-bnls, neck/off 6 5,219 205.00 215.44 210.99 114 1 Chuck, shoulder clod 13 19,644 192.00 202.00 196.63 114A 3 Chuck, shoulder clod, trmd 55 145,360 200.00 223.00 204.78 114D 3 Chuck, clod, top blade 7 14,150 265.59 295.00 288.62 114E 3 Chuck, clod, arm roast 14 24,350 237.85 256.82 248.86 114F 5 Chuck, clod tender (IM) 21 20,490 370.58 386.49 380.34 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 112 303,995 212.00 257.00 227.42 116B 1 Chuck, chuck tender (IM) 40 105,997 205.00 230.00 211.40

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 94 229,534 190.00 211.50 197.54 120A 3 Brisket, point/off, bnls 13 8,769 328.05 349.40 340.40 123A 3 Short Plate, short rib 52 61,754 401.00 485.00 437.25 130 4 Chuck, short rib 30 13,589 327.00 340.30 335.08 160 1 Round, bone-in 161 1 Round, boneless 4 1,088 203.00 210.00 204.68

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 100 257,765 218.61 245.00 225.74 168 1 Round, top inside round 67 93,892 195.00 210.00 199.91 168 3 Round, top inside round 36 277,195 204.00 220.00 208.41 169 5 Round, top inside, denuded 13 12,627 238.00 247.00 242.12

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 7 6,232 192.01 215.00 202.21 171B 3 Round, outside round 52 158,645 191.80 219.50 198.78 171C 3 Round, eye of round (IM) 74 154,855 215.00 242.30 222.52 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 26 20,768 533.00 569.50 545.24 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 20 12,180 478.00 515.00 496.85 180 3 Loin, strip, bnls, 0x1 80 79,587 536.00 616.00 566.76 184 1 Loin, top butt, bnls, heavy 29 19,394 305.00 328.00 308.14 184 3 Loin, top butt, boneless 71 106,882 320.00 340.00 330.04 185A 4 Loin, bottom sirloin, flap 77 100,960 398.00 452.00 418.48 185B 1 Loin, ball-tip, bnls, heavy 44 41,059 229.50 248.00 240.14 185C 1 Loin, sirloin, tri-tip (IM) 16 58,164 260.00 296.00 275.34 185D 4 Loin, tri-tip, pld (IM) 29 40,055 353.45 396.00 363.40 189A 4 Loin, tndrloin, trmd, heavy 69 114,981 870.00 1036.00 888.06 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 22 57,156 394.21 433.00 414.13 ------------------------------------------------------------------------------- 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 11 19,168 504.00 537.30 518.27 112A 3 Rib, ribeye, bnls, light 28 219,758 519.50 585.70 526.01 112A 3 Rib, ribeye, bnls, heavy 54 189,512 514.49 586.28 544.73 113C 1 Chuck, semi-bnls, neck/off 6 7,944 205.00 211.00 208.33 114 1 Chuck, shoulder clod 20 112,050 193.00 211.19 197.67 114A 3 Chuck, shoulder clod, trmd 11 65,524 202.00 214.00 203.88 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 11 14,143 325.00 381.00 336.15 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 90,640 210.00 245.00 224.72 116B 1 Chuck, chuck tender (IM) 14 56,286 204.00 220.00 206.52

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 33 333,685 188.00 205.70 193.94 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 6 5,599 315.00 330.13 321.83 160 1 Round, bone-in 161 1 Round, boneless 4 4,326 204.00 210.00 208.66

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 19 62,848 222.05 248.50 226.97 168 1 Round, top inside round 35 74,402 189.49 221.19 201.18 168 3 Round, top inside round 13 51,070 199.95 218.30 203.12 169 5 Round, top inside, denuded 10 5,114 240.00 250.00 245.06

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 26 184,769 190.00 210.50 194.68 171C 3 Round, eye of round (IM) 25 55,166 217.75 228.00 222.44 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 30 36,510 480.00 537.28 508.06 175 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 31 98,702 460.00 535.30 475.57 184 1 Loin, top butt, bnls, heavy 19 85,420 265.00 315.50 282.51 184 3 Loin, top butt, boneless 24 33,372 290.00 340.00 307.76 185A 4 Loin, bottom sirloin, flap 6 7,789 398.50 445.00 413.50 185B 1 Loin, ball-tip, bnls, heavy 22 73,633 221.00 240.00 231.02 185C 1 Loin, sirloin, tri-tip (IM) 4 5,382 263.64 273.00 269.65 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 34 199,833 826.21 890.44 839.45 191A 4 Loin, butt tender, trimmed 4 4,396 783.41 853.75 799.01 193 4 Flank, flank steak (IM) 13 21,122 389.00 443.00 398.69 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 9 95,301 88.00 129.62 100.16 121D 4 Plate, Inside Skirt (IM) 26 66,931 346.00 393.00 349.16 121C 4 Plate, Outside Skirt (IM) 11 27,791 400.00 525.00 428.19 121E 6 Outside Skirt, pld (IM) 3 4,554 535.00 568.00 563.87

Cap, Wedge Meat & (IM) Lean 49 285,062 229.50 260.00 236.50

Pectoral Meat 30 98,897 230.91 260.00 238.94 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 42 246,459 160.00 177.00 168.28 Ground Beef 75% Ground Beef 81% 81 410,034 174.00 206.30 184.58 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 25 102,324 247.23 278.00 259.62 Ground Beef Chuck 80% 43 253,334 186.00 213.00 195.12 Ground Beef Round 85% 32 137,805 220.00 243.00 227.86 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% 12 37,310 196.30 211.70 204.92 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 12 244,354 92.85 100.00 96.93 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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