USDA Boxed Beef Cutout Closing Prices for July 21

July 21 (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: 176.59 171.28 Change from prior day: (1.65) (1.46) ------------------------------------------------------------------------------- Choice/Select spread: 5.31

Total Load Count (Cuts, Trimmings, Grids): 384 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 253.48 240.41 Primal Chuck 139.95 138.37 Primal Round 150.74 150.97 Primal Loin 257.08 240.38 Primal Brisket 119.33 118.43 Primal Short Plate 117.63 121.06 Primal Flank 116.27 113.78 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/20 155 87 57 83 381 178.24 172.74 07/19 69 42 28 44 182 180.90 173.50 07/18 71 33 29 53 186 181.09 173.04 07/15 83 53 21 51 209 180.88 174.51 07/14 74 45 29 33 181 181.75 176.76 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 180.57 174.11 -------------------------------------------------------------------------------- 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 164.46 loads 6,578,353 pounds Select Cuts 141.91 loads 5,676,482 pounds Trimmings 28.98 loads 1,159,262 pounds Coarse Grinds 48.65 load 1,946,172 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 20 41,825 472.00 510.00 490.22 112A 3 Rib, ribeye, bnls, light 17 35,078 529.00 587.00 543.73 112A 3 Rib, ribeye, bnls, heavy 73 165,518 505.00 587.00 535.89 113A 1 Chuck, square-cut, 2 piece 113C 1 Chuck, semi-bnls, neck/off 14 62,111 180.00 196.00 184.09 113C 3 Chuck, semi-bnls, neck/off

3 Chuck, semi-bnls n/o sh-cut 114 1 Chuck, shoulder clod 18 29,903 180.00 200.00 186.15 114A 3 Chuck, shoulder clod, trmd 57 269,200 184.00 211.00 194.96 114D 3 Chuck, clod, top blade 9 21,450 273.00 302.00 279.95 114E 3 Chuck, clod, arm roast 15 31,502 200.70 240.00 221.71 114F 5 Chuck, clod tender 11 7,625 390.00 420.00 411.09 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 130 884,794 190.00 214.00 201.52 116B 1 Chuck, chuck tender 21 83,081 208.00 220.28 211.94

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 111 1,319,600 171.50 196.00 175.11 120A 3 Brisket, point/off, bnls 12 15,016 267.00 304.75 289.00 123A 3 Short Plate, short rib 32 46,567 318.00 370.10 348.66 130 4 Chuck, short rib 29 51,089 214.00 260.00 233.09 160 1 Round, bone-in 3 5,533 179.97 195.00 182.66 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 62 323,468 196.00 224.00 202.52 168 1 Round, top inside round 54 88,106 190.00 206.00 193.55 168 3 Round, top inside round 29 174,309 196.35 214.25 199.03 169 5 Round, top inside, denuded 16 34,492 229.00 254.00 230.71

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 8,747 184.25 193.50 188.21 171B 3 Round, outside round 71 486,451 174.00 195.00 180.92 171C 3 Round, eye of round 53 84,764 205.00 236.20 219.85

3 Round, flat/eye, heel-out 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 24,062 530.59 582.00 549.46 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 15 13,267 500.00 528.00 507.17 180 3 Loin, strip, bnls, 0x1 44 323,421 472.00 576.00 514.72 184 1 Loin, top butt, bnls, heavy 18 13,902 300.00 323.00 310.40 184 3 Loin, top butt, boneless 48 218,078 310.00 340.00 325.33 185A 4 Loin, bottom sirloin, flap 58 174,071 404.00 448.00 419.87 185B 1 Loin, ball-tip, bnls, heavy 25 124,626 193.60 216.00 199.65 185C 1 Loin, sirloin, tri-tip 23 98,386 255.00 285.00 261.34 185D 4 Loin, sirloin, tri-tip, pld 20 14,465 351.00 409.00 384.91 189A 4 Loin, tndrloin, trmd, heavy 48 68,593 860.00 985.00 890.99 191A 4 Loin, butt tender, trimmed 4 3,504 829.75 895.00 846.44 193 4 Flank, flank steak 15 8,355 466.00 484.25 477.20 ------------------------------------------------------------------------------- Select Cuts, Fat Limitations 1-6 IMPS/FL Sub-Primal # of Total Price Weighted

Trades Pounds Range Average ------------------------------------------------------------------------------- 109A 1 Rib, roast-ready, heavy 109E 1 Rib, ribeye, lip-on, bn-in 16 74,120 449.00 490.50 462.83 112A 3 Rib, ribeye, bnls, light 12 36,416 489.48 539.50 501.56 112A 3 Rib, ribeye, bnls, heavy 36 94,158 490.00 530.00 500.77 113A 1 Chuck, square-cut, 2 piece 113C 1 Chuck, semi-bnls, neck/off 18 116,239 180.00 191.00 182.21 113C 3 Chuck, semi-bnls, neck/off

3 Chuck, semi-bnls n/o sh-cut 0 0 114 1 Chuck, shoulder clod 27 374,530 174.00 193.15 183.29 114A 3 Chuck, shoulder clod, trmd 23 200,023 190.00 206.25 193.88 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender 8 7,046 380.00 390.00 383.55 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 86 1,502,207 195.00 215.30 200.85 116B 1 Chuck, chuck tender 12 40,868 200.00 220.00 211.01

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 58 769,972 171.50 196.00 174.47 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 10 14,306 260.00 350.00 296.46 130 4 Chuck, short rib 12 13,399 229.40 260.00 244.04 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 35 226,805 195.00 216.25 202.68 168 1 Round, top inside round 17 47,651 189.00 200.00 192.13 168 3 Round, top inside round 24 216,549 193.00 213.00 198.75 169 5 Round, top inside, denuded 6 13,541 230.00 245.00 233.87

3 Round, top Inside, side off 0 0 170 1 Round, bottom gooseneck 7 5,545 186.00 204.00 197.12 171B 3 Round, outside round 35 159,268 174.00 195.00 181.36 171C 3 Round, eye of round 11 15,313 202.78 229.75 216.19

3 Round, flat/eye, heel-out 0 0 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 108,929 454.00 490.50 463.91 175 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 19 60,465 468.17 541.20 484.65 184 1 Loin, top butt, bnls, heavy 10 17,789 275.00 310.00 293.00 184 3 Loin, top butt, boneless 17 48,043 302.67 335.00 320.99 185A 4 Loin, bottom sirloin, flap 5 43,755 394.50 426.20 410.17 185B 1 Loin, ball-tip, bnls, heavy 12 34,084 193.50 215.00 206.18 185C 1 Loin, sirloin, tri-tip 11 16,497 264.94 295.00 272.63 185D 4 Loin, sirloin, tri-tip, pld 189A 4 Loin, tndrloin, trmd, heavy 14 61,057 775.00 883.00 788.12 191A 4 Loin, butt tender, trimmed 3 10,668 751.00 785.00 779.38 193 4 Flank, flank steak 12 11,583 450.00 490.50 465.49 ------------------------------------------------------------------------------- CHOICE AND SELECT CUTS, Fat Limitatins (FL) 1-6 ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 21 393,304 114.55 130.00 115.08 121D 4 Plate, Inside Skirt 33 99,632 312.00 332.50 319.85 121C 4 Plate, Outside Skirt 28 45,752 382.00 431.00 403.05 121E 6 Plate, Outside Skirt, pld 7 20,683 545.00 593.00 553.99

Cap & Wedge Meat 107 1,329,920 213.00 248.50 221.97

Pectoral Meat 33 256,345 227.00 250.00 231.51 ------------------------------------------------------------------------------- GROUND BEEF - STEER and HEIFER SOURC -- 10 Pound Chub Basis ------------------------------------------------------------------------------- Ground Beef 73% 34 158,539 137.00 163.00 141.12 Ground Beef 75% Ground Beef 81% 66 965,414 144.00 173.50 148.81 Ground Beef 85% Ground Beef 90% Ground Beef 93% 12 34,846 201.49 215.00 209.40 Ground Beef Chuck 31 657,815 144.90 169.95 149.30 Ground Beef Round 12 37,242 184.50 196.00 192.78 Ground Beef Sirloin 0 0 -------------------------------------------------------------------------------- BLENDED GROUND BEEF - STEER, HEIFER and COW SOURCE -- 10 Pound Chub Basis -------------------------------------------------------------------------------- Blended Ground Beef 73% Blended Ground Beef 75% Blended Ground Beef 81% 6 12,800 167.86 188.70 176.32 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 24 915,662 75.00 82.00 78.19 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.