USDA Boxed Beef Cutout Closing Prices for December 3

December 3 (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: 164.00 152.61 Change from prior day: 0.54 (0.98) ------------------------------------------------------------------------------- Choice/Select spread: 11.39

Total Load Count (Cuts, Trimmings, Grids): 163 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 285.87 227.45 Primal Chuck 131.48 129.92 Primal Round 138.54 139.28 Primal Loin 214.93 192.80 Primal Brisket 114.45 113.70 Primal Short Plate 107.83 111.01 Primal Flank 82.44 82.63 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 12/02 90 51 45 44 231 163.46 153.59 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 162.58 152.49 -------------------------------------------------------------------------------- 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 52.79 loads 2,111,563 pounds Select Cuts 51.25 loads 2,050,041 pounds Trimmings 29.54 loads 1,181,710 pounds Coarse Grinds 29.81 load 1,192,368 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 109E 1 Rib, ribeye, lip-on, bn-in 8 6,413 541.50 579.00 564.97 112A 3 Rib, ribeye, bnls, light 4 7,519 606.50 715.00 647.15 112A 3 Rib, ribeye, bnls, heavy 21 37,303 585.00 710.00 627.17 113A 1 Chuck, square-cut, 2 piece 113C 1 Chuck, semi-bnls, neck/off 3 1,012 164.50 166.50 165.97 113C 3 Chuck, semi-bnls, neck/off

3 Chuck, semi-bnls n/o sh-cut 0 0 114 1 Chuck, shoulder clod 17 54,147 164.50 172.00 168.99 114A 3 Chuck, shoulder clod, trmd 15 32,585 174.50 187.00 182.94 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 9 28,750 201.50 240.00 213.00 114F 5 Chuck, clod tender 6 1,560 262.00 290.45 273.32 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 28 130,165 199.00 225.25 213.80 116B 1 Chuck, chuck tender 16 29,460 179.00 194.00 187.53

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 36 156,149 164.04 181.35 173.39 120A 3 Brisket, point/off, bnls 9 15,647 286.00 302.00 290.33 123A 3 Short Plate, short rib 14 36,344 308.42 366.00 351.03 130 4 Chuck, short rib 14 45,853 244.50 272.50 251.67 160 1 Round, bone-in 8 13,549 166.00 180.00 173.35 161 1 Round, boneless 8 26,355 177.50 184.00 180.59

3 Round, bnls/peeled heel-out 3 3,326 185.00 205.00 194.47 167 1 Round, knuckle 0 0 167A 4 Round, knuckle, peeled 31 45,303 187.59 208.00 195.90 168 1 Round, top inside round 24 56,572 169.50 184.50 179.41 168 3 Round, top inside round 19 72,043 177.00 195.00 188.41 169 5 Round, top inside, denuded 6 9,937 213.00 223.00 219.71

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 10,960 163.00 172.00 169.18 171B 3 Round, outside round 46 484,776 175.00 195.00 179.78 171C 3 Round, eye of round 20 88,798 191.50 219.00 206.95

3 Round, flat/eye, heel-out 174 1 Loin, short loin, 2x3 4 3,162 325.00 330.00 329.37 174 3 Loin, short loin, 0x1 19 29,303 396.00 430.00 405.85 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 12 39,544 353.60 374.50 355.85 180 3 Loin, strip, bnls, 0x1 22 61,847 385.00 420.00 398.19 184 1 Loin, top butt, bnls, heavy 8 8,405 224.00 245.00 236.50 184 3 Loin, top butt, boneless 17 58,995 243.00 265.95 251.59 185A 4 Loin, bottom sirloin, flap 20 43,891 260.00 278.00 269.37 185B 1 Loin, ball-tip, bnls, heavy 21 43,906 187.00 208.00 199.44 185C 1 Loin, sirloin, tri-tip 20 82,094 215.50 230.00 223.63 185D 4 Loin, sirloin, tri-tip, pld 4 2,558 303.25 328.00 313.92 189A 4 Loin, tndrloin, trmd, heavy 24 34,776 980.00 1118.00 1034.17 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak 11 8,468 286.50 329.00 314.34 ------------------------------------------------------------------------------- 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 12 148,521 418.35 483.00 443.87 112A 3 Rib, ribeye, bnls, light 15 251,826 445.00 540.00 447.90 112A 3 Rib, ribeye, bnls, heavy 18 82,573 432.00 513.00 444.90 113A 1 Chuck, square-cut, 2 piece 113C 1 Chuck, semi-bnls, neck/off 6 17,614 162.00 168.00 163.70 113C 3 Chuck, semi-bnls, neck/off

3 Chuck, semi-bnls n/o sh-cut 114 1 Chuck, shoulder clod 11 101,395 157.00 176.00 163.82 114A 3 Chuck, shoulder clod, trmd 18 81,068 172.00 187.00 178.40 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender 4 2,226 250.00 270.00 262.56 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 177,677 194.59 220.00 204.12 116B 1 Chuck, chuck tender 11 38,870 183.25 203.00 192.01

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 21 70,442 159.00 180.00 173.08 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 8 26,971 327.00 366.00 342.88 130 4 Chuck, short rib 10 16,856 248.00 267.00 254.40 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 16 26,075 194.00 206.00 196.23 168 1 Round, top inside round 13 16,896 174.50 186.50 177.90 168 3 Round, top inside round 14 63,734 185.00 192.00 187.70 169 5 Round, top inside, denuded 5 3,393 213.00 230.00 223.58

3 Round, top Inside, side off 0 0 170 1 Round, bottom gooseneck 4 2,622 176.00 180.00 177.99 171B 3 Round, outside round 10 35,370 180.00 198.50 182.38 171C 3 Round, eye of round 4 8,893 208.80 212.00 209.07

3 Round, flat/eye, heel-out 0 0 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 10 32,376 344.83 391.25 355.69 175 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 9 19,123 350.00 380.30 355.25 184 1 Loin, top butt, bnls, heavy 7 37,824 178.00 202.00 191.44 184 3 Loin, top butt, boneless 13 63,158 210.00 225.00 218.12 185A 4 Loin, bottom sirloin, flap 185B 1 Loin, ball-tip, bnls, heavy 15 118,628 185.00 200.00 188.95 185C 1 Loin, sirloin, tri-tip 16 69,552 215.00 232.00 223.43 185D 4 Loin, sirloin, tri-tip, pld 0 0 189A 4 Loin, tndrloin, trmd, heavy 8 4,547 838.51 941.00 864.73 191A 4 Loin, butt tender, trimmed 4 9,902 818.00 860.00 826.81 193 4 Flank, flank steak 7 9,135 279.00 319.00 300.97 ------------------------------------------------------------------------------- CHOICE AND SELECT CUTS, Fat Limitatins (FL) 1-6 ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 9 11,996 95.00 133.00 98.03 121D 4 Plate, Inside Skirt 20 38,984 256.00 300.50 269.64 121C 4 Plate, Outside Skirt 24 295,681 259.29 291.00 265.95 121E 6 Plate, Outside Skirt, pld 8 6,307 410.00 412.20 410.87

Cap and Wedge Meat 29 105,514 221.50 245.00 234.35

Pectoral Meat 19 49,964 232.00 260.00 242.72 ------------------------------------------------------------------------------- GROUND BEEF - STEER and HEIFER SOURC -- 10 Pound Chub Basis ------------------------------------------------------------------------------- Ground Beef 73% 15 158,510 122.00 132.25 127.05 Ground Beef 75% Ground Beef 81% 25 147,476 135.00 143.00 137.89 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 8 37,313 160.50 178.00 170.58 Ground Beef Chuck 19 332,289 134.00 147.00 139.04 Ground Beef Round 8 64,639 152.00 160.95 157.58 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% 29 360,533 137.50 158.00 141.51 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck Blended Ground Beef Round Blended Ground Beef Sirloin -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER and HEIFER SOURCE -------------------------------------------------------------------------------- Fresh 50% lean trimmings 23 878,280 71.80 75.50 73.25 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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