USDA Boxed Beef Cutout Midday Prices for December 2

December 2 (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: 163.48 153.91 Change from prior day: 0.63 0.85 ------------------------------------------------------------------------------- Choice/Select spread: 9.57

Total Load Count (Cuts, Trimmings, Grids): 136 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 280.75 239.17 Primal Chuck 130.83 129.89 Primal Round 138.81 138.16 Primal Loin 215.57 193.65 Primal Brisket 114.26 113.96 Primal Short Plate 107.44 110.50 Primal Flank 85.07 84.87 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 12/01 151 97 70 52 370 162.85 153.06 11/30 97 86 19 37 239 162.55 151.78 11/29 74 43 26 17 160 162.18 151.69 11/26 68 34 24 62 188 161.85 152.34 11/24 112 79 47 45 283 161.10 151.56 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 162.10 152.08 -------------------------------------------------------------------------------- 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 42.50 loads 1,699,855 pounds Select Cuts 28.86 loads 1,154,237 pounds Trimmings 29.11 loads 1,164,259 pounds Coarse Grinds 35.70 load 1,427,970 pounds ------------------------------------------------------------------------------- Choice Cuts, Fat Limitations 1-6 IMPS/FL Sub-Primal # of Total Price Weighted

rades Pounds Range Average ------------------------------------------------------------------------------- 109A 1 Rib, roast-ready, heavy 0 0 109E 1 Rib, ribeye, lip-on, bn-in 7 5,524 561.31 608.00 582.69 112A 3 Rib, ribeye, bnls, light 6 6,900 624.00 694.00 642.70 112A 3 Rib, ribeye, bnls, heavy 14 12,939 596.09 690.00 634.25 113A 1 Chuck, square-cut, 2 piece 113C 1 Chuck, semi-bnls, neck/off 5 45,078 164.41 170.00 166.10 113C 3 Chuck, semi-bnls, neck/off 0 0

3 Chuck, semi-bnls n/o sh-cut 0 0 114 1 Chuck, shoulder clod 7 29,331 162.00 167.00 164.63 114A 3 Chuck, shoulder clod, trmd 18 129,441 169.00 187.00 174.99 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 16 168,845 199.75 222.00 217.29 116B 1 Chuck, chuck tender 9 13,502 181.31 200.00 184.68

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 24 78,728 166.00 180.00 173.01 120A 3 Brisket, point/off, bnls 6 2,040 280.00 293.10 289.41 123A 3 Short Plate, short rib 5 24,193 320.30 350.00 327.89 130 4 Chuck, short rib 9 13,587 239.56 269.62 254.75 160 1 Round, bone-in 3 11,590 175.00 180.00 177.12 161 1 Round, boneless 5 22,169 180.00 181.00 180.84

3 Round, bnls/peeled heel-out 5 57,941 186.00 188.70 186.18 167 1 Round, knuckle 0 0 167A 4 Round, knuckle, peeled 23 58,617 189.59 202.00 195.41 168 1 Round, top inside round 18 37,834 172.25 182.50 177.22 168 3 Round, top inside round 18 65,477 180.00 199.00 188.79 169 5 Round, top inside, denuded 5 7,158 205.00 218.00 210.39

3 Round, top inside, side off 170 1 Round, bottom gooseneck 12 13,610 162.25 180.00 169.05 171B 3 Round, outside round 29 307,657 174.50 200.00 182.95 171C 3 Round, eye of round 12 13,138 191.00 215.00 205.61

3 Round, flat/eye, heel-out 0 0 174 1 Loin, short loin, 2x3 3 1,716 325.00 340.00 328.54 174 3 Loin, short loin, 0x1 12 11,644 379.16 414.50 392.35 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 6 4,091 355.00 380.00 363.80 180 3 Loin, strip, bnls, 0x1 18 81,193 386.35 440.00 400.13 184 1 Loin, top butt, bnls, heavy 7 3,271 224.00 245.80 236.53 184 3 Loin, top butt, boneless 14 10,957 240.50 265.00 258.09 185A 4 Loin, bottom sirloin, flap 27 132,584 245.67 280.00 258.77 185B 1 Loin, ball-tip, bnls, heavy 9 30,042 182.00 200.00 190.03 185C 1 Loin, sirloin, tri-tip 8 31,730 215.00 225.00 217.18 185D 4 Loin, sirloin, tri-tip, pld 4 4,363 300.00 331.50 318.53 189A 4 Loin, tndrloin, trmd, heavy 10 25,325 993.00 1099.40 999.76 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak 5 6,808 315.00 321.00 317.63 ------------------------------------------------------------------------------- Select Cuts, Fat Limitations 1-6 IMPS/FL Sub-Primal # of Total Price Weighted

Trades Pounds Range Average ------------------------------------------------------------------------------- 109A 1 Rib, roast-ready, heavy 0 0 109E 1 Rib, ribeye, lip-on, bn-in 9 100,207 433.00 460.00 434.15 112A 3 Rib, ribeye, bnls, light 6 8,538 480.00 544.00 517.75 112A 3 Rib, ribeye, bnls, heavy 13 14,834 459.98 540.00 482.20 113A 1 Chuck, square-cut, 2 piece 113C 1 Chuck, semi-bnls, neck/off 8 58,028 162.00 168.00 162.53 113C 3 Chuck, semi-bnls, neck/off 0 0

3 Chuck, semi-bnls n/o sh-cut 114 1 Chuck, shoulder clod 6 69,917 162.00 169.50 164.22 114A 3 Chuck, shoulder clod, trmd 15 52,478 175.00 185.00 176.96 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 26 88,447 198.00 219.40 206.88 116B 1 Chuck, chuck tender

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 14,808 161.00 178.00 172.08 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 6 9,267 248.00 265.00 261.01 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 11 12,166 192.68 204.71 195.63 168 1 Round, top inside round 16 43,710 174.00 182.00 176.17 168 3 Round, top inside round 10 25,117 181.47 193.00 190.00 169 5 Round, top inside, denuded 3 2,159 215.48 225.00 220.19

3 Round, top Inside, side off 0 0 170 1 Round, bottom gooseneck 5 14,678 167.00 177.40 168.57 171B 3 Round, outside round 17 88,780 175.00 195.00 184.43 171C 3 Round, eye of round 7 12,713 194.71 211.00 209.62

3 Round, flat/eye, heel-out 0 0 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 15 34,671 334.55 395.00 349.09 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 26 150,740 343.60 375.50 346.03 184 1 Loin, top butt, bnls, heavy 7 20,872 190.00 201.50 196.48 184 3 Loin, top butt, boneless 21 100,275 210.00 225.00 218.60 185A 4 Loin, bottom sirloin, flap 5 17,591 245.76 276.00 247.80 185B 1 Loin, ball-tip, bnls, heavy 6 7,793 185.00 201.00 191.85 185C 1 Loin, sirloin, tri-tip 4 6,133 210.00 225.00 211.81 185D 4 Loin, sirloin, tri-tip, pld 0 0 189A 4 Loin, tndrloin, trmd, heavy 5 4,279 826.93 879.40 849.52 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak 3 2,186 281.50 290.00 283.65 ------------------------------------------------------------------------------- CHOICE AND SELECT CUTS, Fat Limitatins (FL) 1-6 ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 7 63,193 84.00 117.00 86.53 121D 4 Plate, Inside Skirt 10 31,934 270.87 290.00 274.88 121C 4 Plate, Outside Skirt 7 13,783 260.50 280.00 269.82 121E 6 Plate, Outside Skirt, pld 4 15,833 410.00 414.50 410.81

Cap and Wedge Meat 32 173,375 224.56 245.00 234.97

Pectoral Meat 21 79,494 236.00 260.00 252.04 ------------------------------------------------------------------------------- GROUND BEEF - STEER and HEIFER SOURC -- 10 Pound Chub Basis ------------------------------------------------------------------------------- Ground Beef 73% 25 548,324 119.00 132.00 125.04 Ground Beef 75% 0 0 Ground Beef 81% 23 258,705 137.00 143.50 140.19 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 13 17,678 169.00 176.00 174.80 Ground Beef Chuck 22 203,585 135.12 144.71 139.96 Ground Beef Round 21 144,518 158.00 163.00 160.28 Ground Beef Sirloin -------------------------------------------------------------------------------- BLENDED GROUND BEEF - STEER, HEIFER and COW SOURCE -- 10 Pound Chub Basis -------------------------------------------------------------------------------- Blended Ground Beef 73% Blended Ground Beef 75% Blended Ground Beef 81% 11 100,000 134.20 144.25 140.48 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 0 0 Blended Ground Beef Round Blended Ground Beef Sirloin -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER and HEIFER SOURCE -------------------------------------------------------------------------------- Fresh 50% lean trimmings 22 815,389 72.00 75.65 73.73 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_XB 459 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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