Bloomberg News

USDA Boxed Beef Cutout Midday Prices for April 17

April 17, 2013

April 17 (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: 191.96 184.79 Change from prior day: 1.51 0.86 ------------------------------------------------------------------------------- Choice/Select spread: 7.17

Total Load Count (Cuts, Trimmings, Grids): 138 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 275.49 255.68 Primal Chuck 163.51 162.30 Primal Round 158.56 157.12 Primal Loin 267.66 246.80 Primal Brisket 132.39 132.38 Primal Short Plate 137.78 140.64 Primal Flank 111.04 109.95 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/16 83 68 13 28 192 190.45 183.93 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.19 184.31 -------------------------------------------------------------------------------- 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 61.30 loads 2,451,991 pounds Select Cuts 44.12 loads 1,764,818 pounds Trimmings 3.70 loads 148,012 pounds Ground Beef 29.17 load 1,166,757 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 16 99,427 485.19 537.00 502.06 112A 3 Rib, ribeye, bnls, light 16 23,603 555.00 584.00 566.27 112A 3 Rib, ribeye, bnls, heavy 43 106,858 555.00 600.44 572.13 113C 1 Chuck, semi-bnls, neck/off 11 11,436 203.00 215.44 207.94 114 1 Chuck, shoulder clod 7 14,040 193.00 202.00 194.52 114A 3 Chuck, shoulder clod, trmd 28 93,295 198.00 208.30 204.68 114D 3 Chuck, clod, top blade 5 3,760 280.00 290.11 289.24 114E 3 Chuck, clod, arm roast 8 52,248 228.00 250.00 236.22 114F 5 Chuck, clod tender (IM) 18 9,118 370.00 396.00 377.38 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 37 100,647 219.00 234.50 225.98 116B 1 Chuck, chuck tender (IM) 15 28,958 204.00 217.28 207.63

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 43 190,669 189.90 210.00 193.15 120A 3 Brisket, point/off, bnls 21 14,453 339.14 361.70 347.29 123A 3 Short Plate, short rib 13 15,014 440.00 502.00 452.44 130 4 Chuck, short rib 18 192,588 306.52 345.00 310.72 160 1 Round, bone-in 4 8,003 185.00 200.00 188.00 161 1 Round, boneless 3 8,794 202.00 205.00 202.18

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 39 166,055 220.00 236.00 223.04 168 1 Round, top inside round 31 69,881 188.00 213.00 193.40 168 3 Round, top inside round 20 70,011 202.00 214.00 206.79 169 5 Round, top inside, denuded 8 11,792 237.00 243.86 241.16

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 7,693 187.00 206.00 190.55 171B 3 Round, outside round 47 368,820 184.00 210.79 189.67 171C 3 Round, eye of round (IM) 25 60,733 207.40 229.25 212.17 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 26 68,256 550.00 566.00 559.12 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 13 8,778 505.00 539.00 514.31 180 3 Loin, strip, bnls, 0x1 32 77,253 565.00 617.00 588.88 184 1 Loin, top butt, bnls, heavy 19 14,074 305.00 324.00 306.29 184 3 Loin, top butt, boneless 19 39,734 315.10 338.45 327.84 185A 4 Loin, bottom sirloin, flap 20 30,630 398.00 446.00 425.51 185B 1 Loin, ball-tip, bnls, heavy 29 50,603 230.00 248.00 240.06 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 9 9,902 355.00 410.00 396.34 189A 4 Loin, tndrloin, trmd, heavy 27 21,552 879.90 897.00 881.27 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 10,502 388.96 432.00 410.23 ------------------------------------------------------------------------------- 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 9 43,245 473.00 511.85 474.51 112A 3 Rib, ribeye, bnls, light 17 11,796 525.00 566.28 539.36 112A 3 Rib, ribeye, bnls, heavy 43 230,229 499.82 583.05 518.43 113C 1 Chuck, semi-bnls, neck/off 9 18,800 199.00 211.52 204.83 114 1 Chuck, shoulder clod 9 126,637 189.00 198.00 189.92 114A 3 Chuck, shoulder clod, trmd 12 31,362 199.00 208.00 205.12 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 3,510 370.00 370.00 370.00 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 30 110,029 219.00 235.00 224.25 116B 1 Chuck, chuck tender (IM) 13 19,499 205.00 219.11 208.39

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 193,669 189.90 202.00 193.99 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 0 0 130 4 Chuck, short rib 8 101,619 311.00 320.30 311.78 160 1 Round, bone-in 161 1 Round, boneless 7 6,005 202.00 211.50 208.82

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 13 21,841 222.05 229.11 225.42 168 1 Round, top inside round 20 39,302 190.00 202.30 195.57 168 3 Round, top inside round 8 34,582 200.00 207.50 201.78 169 5 Round, top inside, denuded 5 4,746 237.00 245.00 242.08

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 22 72,515 184.00 205.00 190.18 171C 3 Round, eye of round (IM) 14 22,650 210.00 221.00 212.92 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 25 23,431 505.00 536.11 514.30 175 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 25 39,471 492.00 535.50 510.31 184 1 Loin, top butt, bnls, heavy 14 118,238 278.00 310.50 279.88 184 3 Loin, top butt, boneless 17 24,769 300.00 320.00 305.97 185A 4 Loin, bottom sirloin, flap 6 50,771 362.97 395.00 371.61 185B 1 Loin, ball-tip, bnls, heavy 11 58,978 230.00 235.00 232.47 185C 1 Loin, sirloin, tri-tip (IM) 3 17,215 275.00 275.80 275.00 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 26 38,250 820.00 908.00 842.85 191A 4 Loin, butt tender, trimmed 5 2,086 795.00 857.80 814.38 193 4 Flank, flank steak (IM) 4 4,335 388.96 419.00 399.74 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 13,749 110.00 130.00 111.46 121D 4 Plate, Inside Skirt (IM) 18 12,801 347.74 380.00 362.50 121C 4 Plate, Outside Skirt (IM) 10 14,553 407.14 485.00 445.76 121E 6 Outside Skirt, pld (IM) 7 13,138 695.00 711.00 698.63

Cap, Wedge Meat & (IM) Lean 46 479,760 227.85 251.50 230.55

Pectoral Meat 21 65,446 230.00 266.00 234.81 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 33 188,221 158.50 176.00 167.81 Ground Beef 75% Ground Beef 81% 67 385,141 170.00 200.00 183.45 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 18 61,435 241.00 248.50 247.86 Ground Beef Chuck 80% 38 119,784 190.00 213.00 193.84 Ground Beef Round 85% 31 207,854 221.00 226.49 225.55 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% 8 66,680 190.05 214.00 207.42 Blended Ground Beef 85% Blended Ground Beef 90% 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 4 148,012 94.00 100.00 96.17 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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