Bloomberg News

USDA Boxed Beef Cutout Midday Prices for December 20 (Table)

December 20, 2013

December 20 (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: 196.06 187.17 Change from prior day: (1.65) (1.61) ------------------------------------------------------------------------------- Choice/Select spread: 8.88

Total Load Count (Cuts, Trimmings, Grids): 68 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 298.07 260.65 Primal Chuck 171.59 170.16 Primal Round 178.20 179.32 Primal Loin 245.99 223.92 Primal Brisket 135.78 136.10 Primal Short Plate 131.82 134.83 Primal Flank 99.04 97.84 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 12/19 48 32 16 12 107 197.71 188.78 12/18 77 58 8 31 174 198.18 188.38 12/17 54 35 12 12 113 198.43 188.78 12/16 66 31 12 15 125 199.97 188.41 12/13 64 32 22 16 134 198.89 187.01 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 198.64 188.27 -------------------------------------------------------------------------------- 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 27.36 loads 1,094,380 pounds Select Cuts 29.56 loads 1,182,279 pounds Trimmings 1.05 loads 42,000 pounds Ground Beef 10.38 load 415,387 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 8 9,508 552.00 650.00 582.59 112A 3 Rib, ribeye, bnls, light 6 12,790 592.00 725.00 635.24 112A 3 Rib, ribeye, bnls, heavy 15 10,767 655.00 746.00 688.21 113C 1 Chuck, semi-bnls, neck/off 6 23,553 206.00 230.00 207.62 114 1 Chuck, shoulder clod 10 17,673 208.74 227.00 217.84 114A 3 Chuck, shoulder clod, trmd 11 23,827 225.00 246.00 235.72 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 4 33,400 279.00 285.00 284.90 114F 5 Chuck, clod tender (IM) 3 2,156 291.00 350.00 332.12 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 8 16,548 244.75 272.00 255.09 116B 1 Chuck, chuck tender (IM) 20 61,853 221.76 242.00 227.72

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 54,874 195.90 215.00 201.50 120A 3 Brisket, point/off, bnls 9 13,097 370.00 386.00 378.50 123A 3 Short Plate, short rib 4 20,402 443.00 530.00 502.85 130 4 Chuck, short rib 8 7,920 315.00 355.00 322.73 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 30 132,685 230.00 255.00 242.28 168 1 Round, top inside round 4 20,844 207.00 222.10 212.33 168 3 Round, top inside round 12 29,721 226.50 242.00 237.12 169 5 Round, top inside, denuded 5 8,846 256.00 266.43 260.90

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 3,222 216.50 229.00 224.00 171B 3 Round, outside round 21 86,091 220.50 246.89 238.37 171C 3 Round, eye of round (IM) 17 46,404 243.10 265.00 257.33 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 2,087 444.00 477.00 458.65 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 6,268 400.00 415.00 402.63 180 3 Loin, strip, bnls, 0x1 24 144,296 464.40 502.00 477.24 184 1 Loin, top butt, bnls, heavy 8 24,076 245.00 257.40 255.48 184 3 Loin, top butt, boneless 16 28,714 275.00 301.00 286.39 185A 4 Loin, bottom sirloin, flap 11 19,943 360.05 391.00 372.86 185B 1 Loin, ball-tip, bnls, heavy 9 10,773 220.00 241.00 227.99 185C 1 Loin, sirloin, tri-tip (IM) 3 1,990 284.00 289.00 287.64 185D 4 Loin, tri-tip, pld (IM) 4 4,018 406.52 453.50 418.58 189A 4 Loin, tndrloin, trmd, heavy 24 97,588 978.05 1316.00 1035.11 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 6,564 348.00 365.00 357.87 ------------------------------------------------------------------------------- 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 3 2,561 522.00 583.31 560.19 112A 3 Rib, ribeye, bnls, light 15 223,534 499.98 590.00 501.13 112A 3 Rib, ribeye, bnls, heavy 19 58,049 499.98 610.88 541.54 113C 1 Chuck, semi-bnls, neck/off 3 2,315 209.00 218.74 215.41 114 1 Chuck, shoulder clod 8 112,036 205.00 224.00 205.59 114A 3 Chuck, shoulder clod, trmd 6 94,186 230.00 235.10 234.32 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 4,419 269.40 281.00 273.95 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 5 39,937 250.00 270.00 261.43 116B 1 Chuck, chuck tender (IM) 6 14,079 223.77 243.74 227.91

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 5 17,025 201.00 219.70 204.44 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 8,072 430.00 510.00 485.89 130 4 Chuck, short rib 3 1,290 321.50 333.74 326.46 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 5 37,741 230.00 252.00 248.76 168 1 Round, top inside round 168 3 Round, top inside round 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 43,347 204.37 224.41 208.55 171B 3 Round, outside round 5 15,132 229.05 242.00 232.92 171C 3 Round, eye of round (IM) 11 19,212 255.00 266.00 260.01 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 8 102,445 348.00 391.05 361.40 175 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 3 20,435 409.40 414.00 409.90 184 1 Loin, top butt, bnls, heavy 4 8,094 245.00 250.00 245.51 184 3 Loin, top butt, boneless 3 14,968 264.87 265.19 264.89 185A 4 Loin, bottom sirloin, flap 3 26,882 360.00 371.50 360.88 185B 1 Loin, ball-tip, bnls, heavy 185C 1 Loin, sirloin, tri-tip (IM) 0 0 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 12 46,792 878.05 1061.00 917.43 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 3 2,515 355.00 381.00 358.34 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 4 11,574 72.60 120.00 84.49 121D 4 Plate, Inside Skirt (IM) 10 211,284 322.50 350.00 333.80 121C 4 Plate, Outside Skirt (IM) 12 16,376 375.00 426.00 385.07 121E 6 Outside Skirt, pld (IM) 3 3,401 565.00 566.00 565.37

Cap, Wedge Meat & (IM) Lean 7 16,638 248.00 265.00 256.86

Pectoral Meat 8 10,475 262.84 281.00 266.33 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 9 85,435 159.20 181.21 174.68 Ground Beef 75% Ground Beef 81% 8 82,335 174.90 200.00 180.90 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 5 123,623 259.48 280.50 266.22 Ground Beef Chuck 80% 7 85,171 183.00 215.00 208.30 Ground Beef Round 85% 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% 4 17,615 190.05 196.25 195.13 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 0 0 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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