USDA Boxed Beef Cutout Closing Prices for August 31

August 31 (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: 182.79 174.37 Change from prior day: (1.78) (1.70) ------------------------------------------------------------------------------- Choice/Select spread: 8.42

Total Load Count (Cuts, Trimmings, Grids): 253 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 258.24 229.50 Primal Chuck 150.91 149.48 Primal Round 166.65 163.29 Primal Loin 244.30 225.16 Primal Brisket 130.02 129.73 Primal Short Plate 128.41 130.75 Primal Flank 123.49 120.86 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/30 69 61 28 45 202 184.57 176.07 08/29 69 33 5 35 141 186.20 179.08 08/26 48 54 16 26 144 186.30 179.21 08/25 66 65 21 25 177 187.79 180.99 08/24 91 65 32 37 226 187.62 180.95 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 186.50 179.26 -------------------------------------------------------------------------------- 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 103.36 loads 4,134,549 pounds Select Cuts 79.37 loads 3,174,817 pounds Trimmings 32.75 loads 1,310,164 pounds Coarse Grinds 37.19 load 1,487,677 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 41 55,426 480.17 509.00 492.85 112A 3 Rib, ribeye, bnls, light 43 106,659 541.00 567.00 551.67 112A 3 Rib, ribeye, bnls, heavy 145 166,529 533.00 577.00 552.62 113A 1 Chuck, square-cut, 2 piece 0 0 113C 1 Chuck, semi-bnls, neck/off 4 3,632 188.00 212.00 191.31 113C 3 Chuck, semi-bnls, neck/off

3 Chuck, semi-bnls n/o sh-cut 0 0 114 1 Chuck, shoulder clod 33 76,270 184.89 200.85 192.56 114A 3 Chuck, shoulder clod, trmd 58 426,348 191.00 215.00 199.01 114D 3 Chuck, clod, top blade 8 6,651 254.90 305.00 275.37 114E 3 Chuck, clod, arm roast 21 31,729 225.00 261.00 240.16 114F 5 Chuck, clod tender 16 12,467 368.00 415.25 400.24 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 105 172,907 221.60 244.00 234.77 116B 1 Chuck, chuck tender 69 129,807 195.00 219.00 198.46

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 133 380,530 183.00 205.00 190.43 120A 3 Brisket, point/off, bnls 36 41,080 306.00 355.00 329.23 123A 3 Short Plate, short rib 42 34,724 315.00 366.00 332.33 130 4 Chuck, short rib 42 32,866 219.00 243.00 229.72 160 1 Round, bone-in 8 29,038 197.00 208.25 201.56 161 1 Round, boneless 8 14,634 210.00 218.00 212.02

3 Round, bnls/peeled heel-out 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 118 106,389 218.85 240.00 233.35 168 1 Round, top inside round 66 199,007 201.37 229.00 219.03 168 3 Round, top inside round 38 176,442 205.00 236.25 215.49 169 5 Round, top inside, denuded 30 29,264 255.00 270.10 263.36

3 Round, top inside, side off 170 1 Round, bottom gooseneck 11 13,304 197.00 210.00 202.20 171B 3 Round, outside round 60 131,344 202.30 224.75 214.54 171C 3 Round, eye of round 81 88,124 238.33 260.00 250.05

3 Round, flat/eye, heel-out 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 34 48,913 455.00 500.00 466.21 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 23 22,665 410.00 459.00 417.91 180 3 Loin, strip, bnls, 0x1 118 305,813 460.00 518.00 471.97 184 1 Loin, top butt, bnls, heavy 35 31,073 285.00 338.00 315.38 184 3 Loin, top butt, boneless 47 34,328 320.00 351.00 339.59 185A 4 Loin, bottom sirloin, flap 71 93,784 374.06 424.00 393.19 185B 1 Loin, ball-tip, bnls, heavy 67 99,665 204.00 239.75 223.79 185C 1 Loin, sirloin, tri-tip 24 51,332 255.00 286.00 275.96 185D 4 Loin, sirloin, tri-tip, pld 33 42,072 326.63 387.00 363.29 189A 4 Loin, tndrloin, trmd, heavy 133 380,824 825.00 935.50 835.58 191A 4 Loin, butt tender, trimmed 9 5,696 840.00 889.75 866.83 193 4 Flank, flank steak 31 29,231 479.00 511.00 488.37 ------------------------------------------------------------------------------- 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 30 35,768 400.00 461.50 421.26 112A 3 Rib, ribeye, bnls, light 21 198,968 462.00 500.00 464.84 112A 3 Rib, ribeye, bnls, heavy 43 127,342 445.00 500.66 462.13 113A 1 Chuck, square-cut, 2 piece 0 0 113C 1 Chuck, semi-bnls, neck/off 18 27,960 188.00 215.50 198.61 113C 3 Chuck, semi-bnls, neck/off

3 Chuck, semi-bnls n/o sh-cut 0 0 114 1 Chuck, shoulder clod 17 31,113 185.00 207.00 191.96 114A 3 Chuck, shoulder clod, trmd 35 102,893 193.00 215.00 204.20 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender 6 6,598 370.00 385.50 375.90 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 57 232,440 218.00 240.00 227.27 116B 1 Chuck, chuck tender 23 32,850 197.50 217.25 206.17

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 26 140,329 181.25 200.00 191.41 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 46,435 258.00 300.25 262.64 130 4 Chuck, short rib 10 16,974 217.46 237.00 225.83 160 1 Round, bone-in 161 1 Round, boneless 8 14,941 206.00 218.00 212.14

3 Round, bnls/peeled heel-out 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 32 158,549 219.34 239.00 228.04 168 1 Round, top inside round 43 99,727 199.70 231.75 209.25 168 3 Round, top inside round 25 289,876 207.90 235.50 212.11 169 5 Round, top inside, denuded 9 26,545 250.00 274.00 262.90

3 Round, top Inside, side off 0 0 170 1 Round, bottom gooseneck 7 49,713 190.00 210.00 192.02 171B 3 Round, outside round 42 143,414 200.50 225.00 213.93 171C 3 Round, eye of round 26 46,434 244.00 260.00 252.22

3 Round, flat/eye, heel-out 0 0 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 25 41,686 422.00 466.00 438.42 175 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 30 170,718 370.00 455.00 392.53 184 1 Loin, top butt, bnls, heavy 13 24,775 240.00 270.00 253.85 184 3 Loin, top butt, boneless 25 36,902 240.00 294.00 255.76 185A 4 Loin, bottom sirloin, flap 14 85,276 353.05 391.00 369.89 185B 1 Loin, ball-tip, bnls, heavy 19 64,413 220.50 241.00 225.88 185C 1 Loin, sirloin, tri-tip 13 103,005 245.44 280.00 261.01 185D 4 Loin, sirloin, tri-tip, pld 189A 4 Loin, tndrloin, trmd, heavy 37 36,576 805.00 855.00 821.24 191A 4 Loin, butt tender, trimmed 5 2,567 790.00 800.00 798.83 193 4 Flank, flank steak 17 22,506 467.00 495.00 471.97 ------------------------------------------------------------------------------- CHOICE AND SELECT CUTS, Fat Limitatins (FL) 1-6 ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 17 62,558 99.62 130.00 103.52 121D 4 Plate, Inside Skirt 32 45,638 343.00 356.50 351.03 121C 4 Plate, Outside Skirt 39 232,287 363.00 412.25 367.57 121E 6 Plate, Outside Skirt, pld 7 26,820 489.50 526.00 500.54

Cap & Wedge Meat 72 283,071 219.39 247.25 232.93

Pectoral Meat 57 154,731 221.40 247.25 232.49 ------------------------------------------------------------------------------- GROUND BEEF - STEER and HEIFER SOURC -- 10 Pound Chub Basis ------------------------------------------------------------------------------- Ground Beef 73% 69 355,454 150.00 170.00 157.48 Ground Beef 75% Ground Beef 81% 79 330,042 159.00 184.75 169.49 Ground Beef 85% Ground Beef 90% Ground Beef 93% 28 98,621 209.00 229.75 216.09 Ground Beef Chuck 40 328,133 167.67 178.00 175.89 Ground Beef Round 40 94,366 180.00 205.35 190.15 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% 8 29,220 180.23 193.60 182.99 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck Blended Ground Beef Round Blended Ground Beef Sirloin 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER and HEIFER SOURCE -------------------------------------------------------------------------------- Fresh 50% lean trimmings 46 1,207,964 88.00 106.84 95.58 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.