Bloomberg News

USDA Boxed Beef Cutout Closing Prices for April 12

April 12, 2013

April 12 (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: 189.52 184.14 Change from prior day: (0.63) 0.15 ------------------------------------------------------------------------------- Choice/Select spread: 5.38

Total Load Count (Cuts, Trimmings, Grids): 125 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 272.37 262.49 Primal Chuck 159.17 156.85 Primal Round 161.31 158.80 Primal Loin 261.56 246.30 Primal Brisket 133.39 133.23 Primal Short Plate 136.97 139.90 Primal Flank 107.42 107.94 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/11 74 69 8 62 212 190.15 183.99 04/10 80 65 6 40 192 190.95 185.57 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.96 186.01 -------------------------------------------------------------------------------- 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 59.24 loads 2,369,403 pounds Select Cuts 28.40 loads 1,136,195 pounds Trimmings 8.51 loads 340,333 pounds Ground Beef 28.78 load 1,151,136 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 22 67,459 511.62 548.42 518.36 112A 3 Rib, ribeye, bnls, light 9 28,488 548.50 588.00 560.57 112A 3 Rib, ribeye, bnls, heavy 26 148,370 549.82 626.00 562.99 113C 1 Chuck, semi-bnls, neck/off 6 7,718 199.97 212.50 204.79 114 1 Chuck, shoulder clod 12 88,789 190.00 202.00 192.73 114A 3 Chuck, shoulder clod, trmd 45 152,851 193.00 217.00 203.70 114D 3 Chuck, clod, top blade 7 11,476 269.70 299.70 273.26 114E 3 Chuck, clod, arm roast 14 90,948 234.00 256.50 238.47 114F 5 Chuck, clod tender (IM) 9 7,314 375.00 405.00 389.06 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 103,077 216.60 246.60 229.92 116B 1 Chuck, chuck tender (IM) 22 63,461 209.00 232.00 215.07

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 25 64,785 185.00 215.00 198.33 120A 3 Brisket, point/off, bnls 7 8,054 330.00 345.00 333.36 123A 3 Short Plate, short rib 5 5,636 440.00 487.00 461.80 130 4 Chuck, short rib 16 23,674 316.45 341.00 326.00 160 1 Round, bone-in 5 2,641 196.00 220.78 202.25 161 1 Round, boneless 3 3,489 202.50 224.89 204.23

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 55 188,270 220.00 250.00 227.47 168 1 Round, top inside round 17 91,409 195.00 215.50 197.81 168 3 Round, top inside round 26 232,372 205.50 227.00 212.92 169 5 Round, top inside, denuded 24 92,800 230.00 251.00 242.13

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 4,620 184.99 204.00 194.67 171B 3 Round, outside round 43 180,018 191.00 230.00 202.17 171C 3 Round, eye of round (IM) 58 152,828 209.00 251.00 218.57 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 44,425 540.00 581.50 549.26 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 6,650 475.00 509.00 482.97 180 3 Loin, strip, bnls, 0x1 35 50,130 527.00 617.89 562.44 184 1 Loin, top butt, bnls, heavy 10 11,332 303.00 321.80 305.94 184 3 Loin, top butt, boneless 24 54,010 319.00 337.00 327.12 185A 4 Loin, bottom sirloin, flap 22 40,682 394.00 451.00 412.39 185B 1 Loin, ball-tip, bnls, heavy 10 32,850 230.00 263.00 242.56 185C 1 Loin, sirloin, tri-tip (IM) 11 33,986 250.00 288.26 260.06 185D 4 Loin, tri-tip, pld (IM) 6 2,858 355.00 395.00 365.75 189A 4 Loin, tndrloin, trmd, heavy 24 54,495 868.00 901.50 879.56 191A 4 Loin, butt tender, trimmed 4 4,913 848.00 891.00 871.61 193 4 Flank, flank steak (IM) 18 61,116 380.88 442.00 402.61 ------------------------------------------------------------------------------- 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 0 0 112A 3 Rib, ribeye, bnls, light 3 42,049 503.00 575.00 505.13 112A 3 Rib, ribeye, bnls, heavy 14 69,808 527.06 545.09 540.15 113C 1 Chuck, semi-bnls, neck/off 5 9,159 200.97 211.00 206.86 114 1 Chuck, shoulder clod 13 28,825 190.00 210.00 193.15 114A 3 Chuck, shoulder clod, trmd 8 28,848 201.00 212.00 206.23 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 7 13,421 326.00 350.00 338.24 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 139,796 220.50 243.00 226.25 116B 1 Chuck, chuck tender (IM) 12 42,424 204.00 230.00 209.85

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 15 44,689 187.64 214.00 196.45 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 4,434 435.00 486.00 460.41 130 4 Chuck, short rib 4 10,998 320.00 331.50 321.81 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 8 19,918 221.00 231.00 224.32 168 1 Round, top inside round 12 36,148 188.00 205.00 196.25 168 3 Round, top inside round 11 69,638 197.64 212.00 200.76 169 5 Round, top inside, denuded 3 1,187 241.00 247.64 241.71

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 1,069 184.86 201.00 194.82 171B 3 Round, outside round 4 7,496 195.50 206.00 196.08 171C 3 Round, eye of round (IM) 16 39,353 209.00 230.99 215.76 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 2,360 488.00 550.00 502.35 175 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 51,322 493.50 537.00 502.43 184 1 Loin, top butt, bnls, heavy 6 14,968 243.00 315.00 257.00 184 3 Loin, top butt, boneless 15 24,427 300.00 340.00 307.04 185A 4 Loin, bottom sirloin, flap 7 9,704 391.00 450.00 413.90 185B 1 Loin, ball-tip, bnls, heavy 15 29,864 220.00 248.00 235.70 185C 1 Loin, sirloin, tri-tip (IM) 10 137,441 261.00 272.00 269.75 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 7 7,243 843.00 883.50 861.27 191A 4 Loin, butt tender, trimmed 5 5,140 821.95 855.00 838.39 193 4 Flank, flank steak (IM) 5 3,129 381.00 446.50 416.84 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 6 8,861 92.95 117.00 100.37 121D 4 Plate, Inside Skirt (IM) 22 60,494 346.00 382.00 356.05 121C 4 Plate, Outside Skirt (IM) 8 5,946 431.49 490.00 469.98 121E 6 Outside Skirt, pld (IM) 6 23,916 540.00 585.00 567.55

Cap, Wedge Meat & (IM) Lean 36 176,184 228.75 256.00 232.88

Pectoral Meat 13 41,592 226.55 262.00 236.67 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 20 200,502 159.00 176.99 162.91 Ground Beef 75% Ground Beef 81% 37 380,960 159.75 190.99 168.74 Ground Beef 85% Ground Beef 90% Ground Beef 93% 4 37,597 242.03 263.50 245.46 Ground Beef Chuck 80% 23 380,746 167.00 206.19 193.40 Ground Beef Round 85% 9 15,094 216.00 227.55 220.31 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 14,193 196.50 210.86 198.79 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 11 340,333 95.62 100.50 97.16 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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