USDA Boxed Beef Cutout Closing Prices for February 21

February 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: 194.15 191.15 Change from prior day: 2.34 2.77 ------------------------------------------------------------------------------- Choice/Select spread: 3.00

Total Load Count (Cuts, Trimmings, Grids): 160 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 275.76 269.50 Primal Chuck 161.28 159.82 Primal Round 171.53 171.78 Primal Loin 262.59 251.91 Primal Brisket 143.45 143.76 Primal Short Plate 141.65 145.39 Primal Flank 115.54 117.40 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 02/20 87 39 28 28 181 191.81 188.38 02/17 91 41 14 24 171 190.45 185.90 02/16 79 51 21 33 184 190.20 185.53 02/15 106 69 27 42 244 189.38 184.27 02/14 93 56 29 31 209 187.95 182.59 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 189.96 185.33 -------------------------------------------------------------------------------- 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 76.64 loads 3,065,789 pounds Select Cuts 38.30 loads 1,532,031 pounds Trimmings 17.68 loads 707,399 pounds Ground Beef 27.54 load 1,101,432 pounds ------------------------------------------------------------------------------- Choice Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

rades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 44 86,650 516.56 577.28 537.85 112A 3 Rib, ribeye, bnls, light 11 32,442 608.76 625.00 619.90 112A 3 Rib, ribeye, bnls, heavy 55 70,243 580.00 676.35 609.28 113C 1 Chuck, semi-bnls, neck/off 10 13,651 202.93 223.00 215.27 114 1 Chuck, shoulder clod 30 164,550 199.82 221.11 212.85 114A 3 Chuck, shoulder clod, trmd 35 147,309 217.75 233.49 224.14 114D 3 Chuck, clod, top blade 10 10,116 259.90 296.42 271.89 114E 3 Chuck, clod, arm roast 15 27,086 255.00 290.00 279.13 114F 5 Chuck, clod tender (IM) 14 19,845 315.00 392.00 346.64 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 57 282,132 230.00 246.76 235.10 116B 1 Chuck, chuck tender (IM) 42 81,591 219.00 250.00 234.85

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 57 312,001 205.73 225.00 214.47 120A 3 Brisket, point/off, bnls 18 16,761 336.00 370.69 340.45 123A 3 Short Plate, short rib 26 24,151 304.00 371.00 335.63 130 4 Chuck, short rib 36 59,391 215.00 260.00 229.38 160 1 Round, bone-in 6 20,067 210.00 222.50 216.44 161 1 Round, boneless 4 9,331 226.25 230.00 227.63

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 58 167,727 235.00 260.00 251.50 168 1 Round, top inside round 24 62,620 208.00 222.00 213.40 168 3 Round, top inside round 26 116,801 215.00 231.00 224.12 169 5 Round, top inside, denuded 20 29,844 250.00 267.50 258.86

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 2,362 210.00 217.00 211.43 171B 3 Round, outside round 50 204,492 219.00 231.00 222.24 171C 3 Round, eye of round (IM) 46 71,454 236.00 255.00 247.23 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 27 33,355 505.60 551.00 529.09 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 14 20,506 485.00 520.00 498.88 180 3 Loin, strip, bnls, 0x1 57 64,554 531.00 590.00 568.69 184 1 Loin, top butt, bnls, heavy 10 8,002 290.00 326.42 308.55 184 3 Loin, top butt, boneless 28 185,893 329.60 345.00 333.85 185A 4 Loin, bottom sirloin, flap 32 56,373 396.50 430.43 416.33 185B 1 Loin, ball-tip, bnls, heavy 9 11,689 296.00 320.00 306.37 185C 1 Loin, sirloin, tri-tip (IM) 16 46,869 311.00 335.65 322.54 185D 4 Loin, tri-tip, pld (IM) 17 4,032 428.63 459.00 439.12 189A 4 Loin, tndrloin, trmd, heavy 23 42,929 842.76 945.00 913.63 191A 4 Loin, butt tender, trimmed 7 4,429 849.60 881.00 859.20 193 4 Flank, flank steak (IM) 36 31,028 411.00 476.00 431.94 ------------------------------------------------------------------------------- Select Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

Trades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 40 90,767 490.00 534.75 515.51 112A 3 Rib, ribeye, bnls, light 5 21,291 586.00 604.00 588.88 112A 3 Rib, ribeye, bnls, heavy 52 56,004 562.00 600.96 578.60 113C 1 Chuck, semi-bnls, neck/off 13 19,507 202.00 215.00 209.39 114 1 Chuck, shoulder clod 10 48,302 206.00 217.75 214.93 114A 3 Chuck, shoulder clod, trmd 18 61,752 220.00 230.00 228.40 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 18,608 304.00 320.00 306.72 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 38 259,371 227.40 244.89 233.42 116B 1 Chuck, chuck tender (IM) 12 31,220 229.00 250.00 236.16

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 16 30,367 210.00 220.50 216.08 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 6,560 280.00 340.03 298.64 130 4 Chuck, short rib 13 29,674 209.00 260.00 220.26 160 1 Round, bone-in 161 1 Round, boneless 5 6,372 224.00 229.00 225.60

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 17 41,634 235.40 260.00 249.75 168 1 Round, top inside round 9 13,320 206.00 228.57 215.19 168 3 Round, top inside round 21 37,385 217.62 235.57 223.25 169 5 Round, top inside, denuded 3 3,383 252.40 273.14 257.01

3 Round, top inside, side off 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 32 93,699 219.00 231.00 222.24 171C 3 Round, eye of round (IM) 28 56,332 236.40 257.50 249.86 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 24 22,646 479.95 510.00 502.53 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 21 38,541 482.00 517.00 508.64 184 1 Loin, top butt, bnls, heavy 11 57,126 275.00 290.00 287.45 184 3 Loin, top butt, boneless 34 110,331 291.00 301.20 296.13 185A 4 Loin, bottom sirloin, flap 7 10,910 390.00 430.03 405.75 185B 1 Loin, ball-tip, bnls, heavy 19 19,218 276.00 320.00 286.53 185C 1 Loin, sirloin, tri-tip (IM) 7 4,380 300.00 335.69 317.89 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 24 19,185 858.00 908.00 874.64 191A 4 Loin, butt tender, trimmed 6 8,288 854.00 875.50 874.74 193 4 Flank, flank steak (IM) 15 27,410 419.00 459.98 441.52 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 9 10,760 106.50 120.00 112.71 121D 4 Plate, Inside Skirt (IM) 38 73,911 323.00 366.00 346.84 121C 4 Plate, Outside Skirt (IM) 18 38,726 465.54 490.00 478.04 121E 6 Outside Skirt, pld (IM) 8 12,408 650.00 679.70 666.11

Cap, Wedge Meat & (IM) Lean 41 245,938 235.00 270.00 251.47

Pectoral Meat 28 44,395 278.00 293.50 282.59 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 35 213,088 166.00 182.00 174.36 Ground Beef 75% Ground Beef 81% 38 269,167 175.00 197.75 186.01 Ground Beef 85% Ground Beef 90% Ground Beef 93% 25 97,486 253.65 273.75 256.79 Ground Beef Chuck 80% 20 241,632 184.84 200.57 192.74 Ground Beef Round 85% 14 23,314 200.00 220.90 216.54 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% Blended Ground Beef 75% Blended Ground Beef 81% 12 24,865 191.80 202.35 196.68 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 28 707,399 94.08 103.50 99.62 Frozen 50% lean trimmings 0 0 -------------------------------------------------------------------------------- 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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