USDA Boxed Beef Cutout Closing Prices for November 18

November 18 (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: 195.12 178.57 Change from prior day: (0.27) 1.27 ------------------------------------------------------------------------------- Choice/Select spread: 16.56

Total Load Count (Cuts, Trimmings, Grids): 119 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 320.31 240.96 Primal Chuck 158.77 158.17 Primal Round 167.26 166.59 Primal Loin 252.30 216.97 Primal Brisket 144.71 144.73 Primal Short Plate 141.28 142.90 Primal Flank 109.06 112.38 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/17 77 53 11 18 160 195.39 177.30 11/16 90 73 20 53 236 195.45 176.69 11/15 108 67 20 26 221 194.25 176.14 11/14 58 46 12 31 147 192.40 175.08 11/11 86 63 7 36 192 191.02 172.70 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.70 175.58 -------------------------------------------------------------------------------- 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 54.21 loads 2,168,246 pounds Select Cuts 34.39 loads 1,375,575 pounds Trimmings 12.85 loads 513,971 pounds Coarse Grinds 17.92 load 716,944 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 14 16,779 677.50 740.00 709.70 112A 3 Rib, ribeye, bnls, light 4 3,669 741.00 790.00 761.40 112A 3 Rib, ribeye, bnls, heavy 11 7,206 700.00 774.60 724.32 113A 1 Chuck, square-cut, 2 piece 0 0 113C 1 Chuck, semi-bnls, neck/off 3 13,401 208.00 212.00 211.96 113C 3 Chuck, semi-bnls, neck/off 0 0

3 Chuck, semi-bnls n/o sh-cut 0 0 114 1 Chuck, shoulder clod 15 254,495 194.80 209.75 195.35 114A 3 Chuck, shoulder clod, trmd 32 306,022 204.00 221.00 210.95 114D 3 Chuck, clod, top blade 9 15,989 244.74 286.19 268.64 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender 7 4,616 360.20 400.00 377.23 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 161,262 228.00 255.00 240.49 116B 1 Chuck, chuck tender 23 67,421 225.00 246.00 233.44

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 62,100 200.00 224.00 210.50 120A 3 Brisket, point/off, bnls 5 6,730 328.00 355.00 331.12 123A 3 Short Plate, short rib 10 15,931 305.00 384.50 352.07 130 4 Chuck, short rib 17 37,602 208.60 240.25 213.13 160 1 Round, bone-in 161 1 Round, boneless 8 12,643 212.00 225.65 216.41

3 Round, bnls/peeled heel-out 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 29 177,708 210.00 249.00 227.11 168 1 Round, top inside round 20 62,412 204.50 220.00 210.12 168 3 Round, top inside round 28 111,415 207.00 235.00 219.30 169 5 Round, top inside, denuded 9 11,727 245.00 264.00 258.11

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 3,036 208.00 225.00 212.31 171B 3 Round, outside round 34 151,973 221.00 245.00 230.09 171C 3 Round, eye of round 21 55,518 229.90 262.00 235.80

3 Round, flat/eye, heel-out 0 0 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 13,685 453.00 480.00 471.56 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 12 22,109 425.00 446.00 428.15 180 3 Loin, strip, bnls, 0x1 25 49,406 480.00 513.00 494.44 184 1 Loin, top butt, bnls, heavy 11 26,294 270.00 282.00 270.84 184 3 Loin, top butt, boneless 8 56,802 267.00 296.50 284.05 185A 4 Loin, bottom sirloin, flap 11 15,991 309.53 326.00 314.80 185B 1 Loin, ball-tip, bnls, heavy 8 18,729 238.05 250.00 244.51 185C 1 Loin, sirloin, tri-tip 10 45,189 280.50 305.00 288.79 185D 4 Loin, sirloin, tri-tip, pld 8 21,788 400.00 403.00 401.89 189A 4 Loin, tndrloin, trmd, heavy 14 25,314 1003.00 1091.00 1029.58 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak 12 11,150 335.00 375.00 353.62 ------------------------------------------------------------------------------- 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 19 74,250 435.50 455.00 448.14 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 18 65,262 458.00 491.00 468.29 113A 1 Chuck, square-cut, 2 piece 113C 1 Chuck, semi-bnls, neck/off 0 0 113C 3 Chuck, semi-bnls, neck/off

3 Chuck, semi-bnls n/o sh-cut 0 0 114 1 Chuck, shoulder clod 12 30,882 196.00 207.00 200.19 114A 3 Chuck, shoulder clod, trmd 10 64,501 200.40 215.25 210.05 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender 4 3,675 345.00 375.00 350.59 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 164,047 222.00 241.40 227.00 116B 1 Chuck, chuck tender 15 60,467 228.00 242.00 234.32

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 13 123,543 204.00 220.00 210.10 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 6,170 345.00 376.00 370.96 130 4 Chuck, short rib 14 42,428 197.00 260.50 205.10 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167 1 Round, knuckle 167A 4 Round, knuckle, peeled 16 47,369 210.00 240.75 225.21 168 1 Round, top inside round 4 7,673 205.00 219.25 206.12 168 3 Round, top inside round 10 69,490 212.00 233.00 218.57 169 5 Round, top inside, denuded

3 Round, top Inside, side off 170 1 Round, bottom gooseneck 4 1,489 195.00 210.00 203.01 171B 3 Round, outside round 7 27,716 221.00 240.00 224.92 171C 3 Round, eye of round 14 49,075 222.40 246.50 229.02

3 Round, flat/eye, heel-out 0 0 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 8 62,247 369.74 391.25 379.63 175 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 7 60,334 365.00 393.00 372.40 184 1 Loin, top butt, bnls, heavy 3 2,386 230.00 256.25 253.31 184 3 Loin, top butt, boneless 7 16,654 248.05 283.00 258.17 185A 4 Loin, bottom sirloin, flap 5 8,282 303.00 326.00 316.57 185B 1 Loin, ball-tip, bnls, heavy 5 10,432 215.00 216.00 215.18 185C 1 Loin, sirloin, tri-tip 7 26,688 274.81 295.00 279.23 185D 4 Loin, sirloin, tri-tip, pld 189A 4 Loin, tndrloin, trmd, heavy 9 13,663 784.14 901.00 809.70 191A 4 Loin, butt tender, trimmed 3 1,596 825.00 885.00 827.33 193 4 Flank, flank steak 7 15,786 322.74 373.00 343.75 ------------------------------------------------------------------------------- CHOICE AND SELECT CUTS, Fat Limitatins (FL) 1-6 ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 5,209 100.00 141.00 129.11 121D 4 Plate, Inside Skirt 20 108,427 295.50 315.00 304.19 121C 4 Plate, Outside Skirt 16 34,646 355.00 396.35 384.27 121E 6 Plate, Outside Skirt, pld 6 3,409 535.00 581.00 561.73

Cap & Wedge Meat 31 324,969 243.14 271.25 260.99

Pectoral Meat 12 40,871 265.00 300.00 285.88 ------------------------------------------------------------------------------- GROUND BEEF - STEER and HEIFER SOURC -- 10 Pound Chub Basis ------------------------------------------------------------------------------- Ground Beef 73% 18 191,069 165.00 176.00 171.63 Ground Beef 75% Ground Beef 81% 21 46,729 178.00 192.00 184.77 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 6 7,235 224.00 241.50 226.05 Ground Beef Chuck 15 188,885 178.08 192.00 184.64 Ground Beef Round 11 107,742 191.67 196.63 195.47 Ground Beef Sirloin -------------------------------------------------------------------------------- BLENDED GROUND BEEF - STEER, HEIFER and COW SOURCE -- 10 Pound Chub Basis -------------------------------------------------------------------------------- Blended Ground Beef 73% Blended Ground Beef 75% 0 0 Blended Ground Beef 81% 4 11,760 180.00 194.40 185.54 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 18 510,001 118.50 128.50 123.47 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_XB459 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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