Bloomberg News

USDA Boxed Beef Cutout Midday Prices for April 19

April 19, 2013

April 19 (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: 190.28 185.32 Change from prior day: (0.51) 1.07 ------------------------------------------------------------------------------- Choice/Select spread: 4.96

Total Load Count (Cuts, Trimmings, Grids): 88 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 270.21 259.08 Primal Chuck 159.76 162.37 Primal Round 156.80 156.38 Primal Loin 269.41 247.86 Primal Brisket 132.26 133.58 Primal Short Plate 139.56 142.25 Primal Flank 108.75 106.72 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/18 88 56 9 34 187 190.79 184.25 04/17 124 71 6 38 238 191.33 184.49 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.40 184.14 -------------------------------------------------------------------------------- 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 44.24 loads 1,769,708 pounds Select Cuts 32.66 loads 1,306,232 pounds Trimmings 6.11 loads 244,309 pounds Ground Beef 4.51 load 180,522 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 9 19,383 500.00 536.00 507.67 112A 3 Rib, ribeye, bnls, light 10 12,074 555.00 600.64 578.13 112A 3 Rib, ribeye, bnls, heavy 24 107,289 540.00 596.89 547.55 113C 1 Chuck, semi-bnls, neck/off 7 13,560 198.00 225.00 203.24 114 1 Chuck, shoulder clod 5 54,689 186.89 192.00 191.93 114A 3 Chuck, shoulder clod, trmd 27 62,695 198.00 211.26 202.17 114D 3 Chuck, clod, top blade 7 10,738 270.12 295.50 280.51 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 1,656 370.00 401.66 387.12 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 30 129,597 219.00 239.26 226.57 116B 1 Chuck, chuck tender (IM) 24 146,607 198.00 215.90 203.83

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 17 40,741 190.00 225.00 193.26 120A 3 Brisket, point/off, bnls 4 6,558 322.00 350.00 333.32 123A 3 Short Plate, short rib 19 26,398 405.00 492.00 451.79 130 4 Chuck, short rib 12 36,820 291.00 341.00 315.01 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 28 146,676 215.47 235.00 223.66 168 1 Round, top inside round 11 57,149 189.98 201.00 194.49 168 3 Round, top inside round 19 92,032 200.00 217.00 203.79 169 5 Round, top inside, denuded 12 17,706 228.00 242.00 235.20

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 5,297 185.00 195.00 187.96 171B 3 Round, outside round 30 250,775 189.00 206.00 191.25 171C 3 Round, eye of round (IM) 27 94,826 203.00 227.00 207.83 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 11 63,991 560.00 591.00 577.52 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 4,075 506.11 540.00 514.78 180 3 Loin, strip, bnls, 0x1 14 13,477 573.61 638.00 596.52 184 1 Loin, top butt, bnls, heavy 8 8,698 305.00 320.00 309.09 184 3 Loin, top butt, boneless 8 4,201 325.00 341.00 330.63 185A 4 Loin, bottom sirloin, flap 13 74,732 390.00 415.00 407.05 185B 1 Loin, ball-tip, bnls, heavy 17 49,544 233.50 248.00 237.99 185C 1 Loin, sirloin, tri-tip (IM) 4 5,366 276.50 294.26 288.91 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 27 132,999 860.00 898.61 863.50 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 5 3,055 404.00 430.00 420.65 ------------------------------------------------------------------------------- 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 11 231,373 475.00 488.00 475.23 112A 3 Rib, ribeye, bnls, light 4 37,918 500.00 534.00 503.12 112A 3 Rib, ribeye, bnls, heavy 14 65,719 500.00 566.80 506.62 113C 1 Chuck, semi-bnls, neck/off 4 7,438 206.50 210.00 209.40 114 1 Chuck, shoulder clod 4 8,047 187.00 196.00 188.92 114A 3 Chuck, shoulder clod, trmd 12 35,852 199.00 207.00 202.44 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 8,004 327.00 358.00 344.32 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 16 125,242 219.85 231.00 221.23 116B 1 Chuck, chuck tender (IM) 4 6,429 198.00 209.00 205.03

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 7 58,864 190.85 200.00 196.65 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 12,606 288.00 480.00 430.13 130 4 Chuck, short rib 0 0 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 4 30,717 220.00 227.44 224.78 168 1 Round, top inside round 5 18,737 192.00 200.89 194.05 168 3 Round, top inside round 10 21,268 205.00 210.00 206.59 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 10 86,457 190.00 200.50 190.73 171C 3 Round, eye of round (IM) 7 15,792 203.00 215.00 204.37 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 27,037 482.40 530.00 499.04 175 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 11 9,689 498.80 543.00 522.60 184 1 Loin, top butt, bnls, heavy 3 2,033 290.00 312.00 292.10 184 3 Loin, top butt, boneless 8 13,532 306.00 330.00 309.54 185A 4 Loin, bottom sirloin, flap 4 4,049 391.00 451.00 398.65 185B 1 Loin, ball-tip, bnls, heavy 12 131,496 225.00 239.51 233.52 185C 1 Loin, sirloin, tri-tip (IM) 7 21,089 264.85 278.00 266.67 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 9 13,354 835.00 991.00 864.03 191A 4 Loin, butt tender, trimmed 4 19,855 787.50 808.00 803.32 193 4 Flank, flank steak (IM) 0 0 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 16 114,797 95.00 130.00 96.59 121D 4 Plate, Inside Skirt (IM) 8 12,494 344.75 380.00 359.73 121C 4 Plate, Outside Skirt (IM) 12 19,748 431.00 485.00 475.17 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 25 135,519 226.45 249.00 230.71

Pectoral Meat 14 31,042 230.00 253.64 232.56 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 10 58,127 164.50 176.00 166.86 Ground Beef 75% 0 0 Ground Beef 81% 11 46,004 167.05 192.00 178.21 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 3 3,895 241.05 248.50 246.26 Ground Beef Chuck 80% 7 15,548 195.00 203.00 196.83 Ground Beef Round 85% 3 1,688 223.00 226.00 225.33 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% Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% 0 0 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 11 240,809 97.32 104.00 100.07 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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