Bloomberg News

USDA Boxed Beef Cutout Closing Prices for April 16

April 16, 2013

April 16 (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: 190.45 183.93 Change from prior day: 0.56 0.02 ------------------------------------------------------------------------------- Choice/Select spread: 6.52

Total Load Count (Cuts, Trimmings, Grids): 192 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 276.03 258.76 Primal Chuck 159.98 159.40 Primal Round 158.99 157.33 Primal Loin 265.14 244.73 Primal Brisket 132.46 132.75 Primal Short Plate 137.61 140.47 Primal Flank 108.47 111.04 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/15 77 41 0 16 134 189.89 183.91 04/12 59 28 9 29 125 189.52 184.14 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.38 184.93 -------------------------------------------------------------------------------- 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 82.91 loads 3,316,530 pounds Select Cuts 68.46 loads 2,738,593 pounds Trimmings 12.62 loads 504,909 pounds Ground Beef 27.84 load 1,113,408 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 42 109,113 492.94 549.29 512.00 112A 3 Rib, ribeye, bnls, light 11 11,050 549.00 600.24 562.24 112A 3 Rib, ribeye, bnls, heavy 53 53,074 551.00 611.28 578.90 113C 1 Chuck, semi-bnls, neck/off 4 7,542 200.00 205.00 203.22 114 1 Chuck, shoulder clod 12 62,892 185.00 200.00 196.74 114A 3 Chuck, shoulder clod, trmd 38 155,933 197.00 230.00 204.16 114D 3 Chuck, clod, top blade 14 13,812 270.83 291.34 279.35 114E 3 Chuck, clod, arm roast 20 84,949 228.00 250.60 235.76 114F 5 Chuck, clod tender (IM) 17 14,959 360.60 402.50 376.24 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 69 260,222 220.00 257.00 231.35 116B 1 Chuck, chuck tender (IM) 32 65,530 205.00 229.96 210.64

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 47 231,868 190.00 210.71 194.53 120A 3 Brisket, point/off, bnls 16 13,183 328.00 367.94 341.33 123A 3 Short Plate, short rib 28 40,503 395.00 497.50 444.26 130 4 Chuck, short rib 25 58,703 310.00 364.10 331.56 160 1 Round, bone-in 12 22,488 186.75 226.50 202.46 161 1 Round, boneless 6 9,905 199.00 208.00 202.84

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 63 222,566 215.00 237.23 224.63 168 1 Round, top inside round 38 244,292 186.00 217.50 191.45 168 3 Round, top inside round 42 201,408 196.00 218.00 205.92 169 5 Round, top inside, denuded 25 66,914 230.00 248.60 245.72

3 Round, top inside, side off 170 1 Round, bottom gooseneck 10 7,133 190.00 204.54 193.43 171B 3 Round, outside round 42 228,778 186.00 213.00 192.54 171C 3 Round, eye of round (IM) 52 106,123 206.00 235.05 216.82 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 31 164,799 538.00 573.15 556.10 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 7,401 505.00 513.00 508.83 180 3 Loin, strip, bnls, 0x1 40 39,578 550.91 618.00 576.04 184 1 Loin, top butt, bnls, heavy 7 8,254 305.00 322.28 309.13 184 3 Loin, top butt, boneless 41 254,189 311.00 342.00 320.79 185A 4 Loin, bottom sirloin, flap 35 123,324 375.00 446.00 397.58 185B 1 Loin, ball-tip, bnls, heavy 20 54,591 223.00 253.00 234.23 185C 1 Loin, sirloin, tri-tip (IM) 16 115,043 250.00 296.00 274.44 185D 4 Loin, tri-tip, pld (IM) 13 6,417 372.45 391.00 380.23 189A 4 Loin, tndrloin, trmd, heavy 24 41,433 865.00 931.00 886.86 191A 4 Loin, butt tender, trimmed 10 9,185 900.60 944.00 904.91 193 4 Flank, flank steak (IM) 32 39,931 398.52 438.00 422.33 ------------------------------------------------------------------------------- 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 22 32,987 480.00 531.00 486.97 112A 3 Rib, ribeye, bnls, light 11 136,631 503.00 562.00 512.91 112A 3 Rib, ribeye, bnls, heavy 31 121,622 499.82 582.00 520.25 113C 1 Chuck, semi-bnls, neck/off 12 17,745 204.00 210.00 207.21 114 1 Chuck, shoulder clod 10 26,521 190.00 211.19 205.04 114A 3 Chuck, shoulder clod, trmd 19 56,348 198.87 222.00 203.34 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 16 16,351 325.00 376.05 348.89 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 42 254,001 220.00 257.00 224.75 116B 1 Chuck, chuck tender (IM) 15 33,973 203.14 220.00 209.33

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 40,050 190.76 208.00 193.46 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 8,290 396.00 405.00 396.22 130 4 Chuck, short rib 13 39,069 310.00 345.00 314.53 160 1 Round, bone-in 161 1 Round, boneless 5 3,891 203.75 210.00 205.96

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 33 176,287 217.00 250.00 221.00 168 1 Round, top inside round 31 303,511 185.70 221.19 189.56 168 3 Round, top inside round 23 100,907 200.00 220.00 204.03 169 5 Round, top inside, denuded 9 20,256 233.96 255.00 238.92

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 15,147 190.09 205.00 191.01 171B 3 Round, outside round 39 241,164 184.00 219.00 189.29 171C 3 Round, eye of round (IM) 19 74,012 207.00 235.00 210.60 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 31 77,440 500.00 533.15 507.41 175 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 26 96,386 484.00 534.75 497.07 184 1 Loin, top butt, bnls, heavy 8 112,399 274.62 302.00 280.58 184 3 Loin, top butt, boneless 25 77,218 284.00 340.00 313.86 185A 4 Loin, bottom sirloin, flap 7 100,650 375.00 419.00 377.68 185B 1 Loin, ball-tip, bnls, heavy 24 52,597 218.34 255.00 227.34 185C 1 Loin, sirloin, tri-tip (IM) 6 9,975 260.00 270.00 265.01 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 25 81,424 823.00 895.00 843.48 191A 4 Loin, butt tender, trimmed 9 2,164 810.43 908.99 836.72 193 4 Flank, flank steak (IM) 10 9,979 400.00 461.50 417.79 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 30,373 100.00 130.00 116.82 121D 4 Plate, Inside Skirt (IM) 37 61,129 351.00 382.00 359.67 121C 4 Plate, Outside Skirt (IM) 11 52,263 410.00 472.50 415.74 121E 6 Outside Skirt, pld (IM) 9 16,801 570.60 695.00 599.54

Cap, Wedge Meat & (IM) Lean 55 195,771 229.85 255.24 234.41

Pectoral Meat 37 92,738 232.00 250.00 236.57 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 50 383,662 161.00 192.00 172.33 Ground Beef 75% 0 0 Ground Beef 81% 43 243,519 170.00 210.00 187.50 Ground Beef 85% Ground Beef 90% Ground Beef 93% 27 108,981 239.60 278.30 262.31 Ground Beef Chuck 80% 17 82,213 190.00 199.06 192.90 Ground Beef Round 85% 26 101,139 216.00 242.00 225.01 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% Blended Ground Beef 81% 9 65,194 195.51 214.00 211.72 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% 0 0 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 24 504,909 95.00 102.50 98.23 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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