USDA Boxed Beef Cutout Closing Prices for September 30

September 30 (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: 182.49 169.34 Change from prior day: (0.77) 0.07 ------------------------------------------------------------------------------- Choice/Select spread: 13.14

Total Load Count (Cuts, Trimmings, Grids): 175 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 279.28 223.91 Primal Chuck 154.57 153.43 Primal Round 166.37 164.38 Primal Loin 229.29 199.99 Primal Brisket 130.11 128.34 Primal Short Plate 125.20 128.43 Primal Flank 114.84 113.87 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/29 102 75 28 39 244 183.26 169.27 09/28 128 139 20 42 328 183.00 168.81 09/27 135 119 23 39 316 183.05 168.66 09/26 94 48 12 29 183 184.17 169.44 09/23 55 61 21 52 189 183.31 168.94 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 183.36 169.02 -------------------------------------------------------------------------------- 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 72.80 loads 2,911,923 pounds Select Cuts 53.31 loads 2,132,223 pounds Trimmings 22.41 loads 896,476 pounds Coarse Grinds 26.21 load 1,048,356 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 13 22,759 559.00 586.00 563.37 112A 3 Rib, ribeye, bnls, light 20 113,021 611.00 680.00 655.19 112A 3 Rib, ribeye, bnls, heavy 44 163,924 605.00 676.00 628.47 113A 1 Chuck, square-cut, 2 piece 0 0 113C 1 Chuck, semi-bnls, neck/off 6 22,262 198.12 215.50 202.26 113C 3 Chuck, semi-bnls, neck/off

3 Chuck, semi-bnls n/o sh-cut 114 1 Chuck, shoulder clod 6 10,864 185.00 194.50 188.17 114A 3 Chuck, shoulder clod, trmd 29 80,127 193.50 211.25 202.30 114D 3 Chuck, clod, top blade 6 6,254 271.00 305.00 274.70 114E 3 Chuck, clod, arm roast 3 1,952 235.50 240.00 236.34 114F 5 Chuck, clod tender 7 7,634 381.50 396.25 388.42 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 35 150,734 253.50 270.00 259.88 116B 1 Chuck, chuck tender 17 50,571 191.00 213.00 198.26

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 30 175,934 190.00 205.00 193.21 120A 3 Brisket, point/off, bnls 12 20,296 319.58 360.75 331.84 123A 3 Short Plate, short rib 7 39,524 303.27 361.00 316.36 130 4 Chuck, short rib 15 26,852 202.00 260.00 219.54 160 1 Round, bone-in 5 3,145 194.65 211.50 199.07 161 1 Round, boneless 5 10,064 209.00 219.00 211.72

3 Round, bnls/peeled heel-out 0 0 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 44 174,069 233.00 255.00 242.33 168 1 Round, top inside round 36 113,167 193.28 210.00 204.13 168 3 Round, top inside round 46 791,742 204.00 221.00 213.85 169 5 Round, top inside, denuded 13 41,126 243.00 253.00 245.11

3 Round, top inside, side off 170 1 Round, bottom gooseneck 10 11,108 199.00 217.00 207.70 171B 3 Round, outside round 22 77,828 226.00 247.00 230.91 171C 3 Round, eye of round 21 95,561 254.70 270.00 258.46

3 Round, flat/eye, heel-out 0 0 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 17 26,989 444.90 473.00 449.99 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 16 23,040 385.00 421.50 400.30 180 3 Loin, strip, bnls, 0x1 21 46,707 434.00 468.00 451.50 184 1 Loin, top butt, bnls, heavy 9 10,858 258.89 280.00 268.74 184 3 Loin, top butt, boneless 21 89,681 233.00 291.00 250.10 185A 4 Loin, bottom sirloin, flap 25 44,765 315.00 345.00 331.13 185B 1 Loin, ball-tip, bnls, heavy 13 32,099 219.00 245.00 233.52 185C 1 Loin, sirloin, tri-tip 7 15,753 261.00 289.00 265.96 185D 4 Loin, sirloin, tri-tip, pld 7 2,725 382.00 408.50 393.10 189A 4 Loin, tndrloin, trmd, heavy 19 30,450 935.00 1031.00 957.73 191A 4 Loin, butt tender, trimmed 9 6,246 892.00 961.00 931.17 193 4 Flank, flank steak 7 20,852 416.00 471.00 431.02 ------------------------------------------------------------------------------- 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 4 3,298 418.00 441.25 425.57 112A 3 Rib, ribeye, bnls, light 0 0 112A 3 Rib, ribeye, bnls, heavy 26 143,444 433.00 482.00 460.38 113A 1 Chuck, square-cut, 2 piece 113C 1 Chuck, semi-bnls, neck/off 11 14,017 190.00 215.00 200.24 113C 3 Chuck, semi-bnls, neck/off

3 Chuck, semi-bnls n/o sh-cut 0 0 114 1 Chuck, shoulder clod 15 51,500 180.00 194.50 189.63 114A 3 Chuck, shoulder clod, trmd 15 32,953 193.00 203.50 199.06 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender 9 33,022 342.00 383.36 356.56 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 18 105,173 230.00 262.00 241.03 116B 1 Chuck, chuck tender 14 91,134 200.00 215.00 202.94

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 14 176,541 190.00 207.00 190.80 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 11,954 245.00 345.00 281.99 130 4 Chuck, short rib 16 120,078 183.00 241.25 187.16 160 1 Round, bone-in 0 0 161 1 Round, boneless 3 1,688 206.00 211.65 209.69

3 Round, bnls/peeled heel-out 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 15 91,255 236.00 245.00 240.58 168 1 Round, top inside round 18 84,673 190.00 212.75 200.30 168 3 Round, top inside round 17 117,540 206.00 217.00 209.48 169 5 Round, top inside, denuded 10 61,199 245.00 250.25 245.04

3 Round, top Inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 14 63,542 223.25 240.00 231.54 171C 3 Round, eye of round 12 40,053 245.98 269.00 256.90

3 Round, flat/eye, heel-out 0 0 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 43,368 354.00 391.25 360.40 175 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 15 98,061 333.00 360.00 341.35 184 1 Loin, top butt, bnls, heavy 10 59,614 190.18 201.00 193.05 184 3 Loin, top butt, boneless 13 82,104 203.00 218.50 207.74 185A 4 Loin, bottom sirloin, flap 9 40,097 300.00 350.00 309.59 185B 1 Loin, ball-tip, bnls, heavy 6 15,838 216.00 235.00 220.77 185C 1 Loin, sirloin, tri-tip 12 15,660 255.00 285.00 267.53 185D 4 Loin, sirloin, tri-tip, pld 189A 4 Loin, tndrloin, trmd, heavy 10 39,301 800.00 871.00 815.48 191A 4 Loin, butt tender, trimmed 4 1,870 820.00 826.25 822.45 193 4 Flank, flank steak 7 7,524 416.00 466.00 435.20 ------------------------------------------------------------------------------- CHOICE AND SELECT CUTS, Fat Limitatins (FL) 1-6 ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 5,812 86.28 131.25 95.27 121D 4 Plate, Inside Skirt 18 95,886 324.00 370.50 332.79 121C 4 Plate, Outside Skirt 19 19,190 345.00 378.25 362.93 121E 6 Plate, Outside Skirt, pld 6 9,722 485.00 550.00 496.09

Cap & Wedge Meat 25 207,053 225.00 251.00 232.53

Pectoral Meat 31 111,940 228.50 245.00 235.12 ------------------------------------------------------------------------------- GROUND BEEF - STEER and HEIFER SOURC -- 10 Pound Chub Basis ------------------------------------------------------------------------------- Ground Beef 73% 21 204,433 140.00 155.98 143.46 Ground Beef 75% 0 0 Ground Beef 81% 25 115,951 155.00 171.50 164.75 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 12 142,666 208.22 222.25 210.36 Ground Beef Chuck 21 169,176 158.30 179.00 165.59 Ground Beef Round 9 77,628 173.22 185.45 181.01 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% 7 85,940 157.33 189.00 177.56 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 24 846,076 84.00 90.21 88.24 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.