USDA Boxed Beef Cutout Midday 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 11:30 a.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: 193.47 190.77 Change from prior day: 1.66 2.39 ------------------------------------------------------------------------------- Choice/Select spread: 2.70

Total Load Count (Cuts, Trimmings, Grids): 88 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 275.52 269.66 Primal Chuck 160.69 159.45 Primal Round 171.05 171.81 Primal Loin 261.13 250.57 Primal Brisket 142.65 143.60 Primal Short Plate 141.58 145.33 Primal Flank 115.22 117.47 -------------------------------------------------------------------------------- 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 34.99 loads 1,399,453 pounds Select Cuts 21.18 loads 847,246 pounds Trimmings 14.65 loads 585,836 pounds Ground Beef 17.29 load 691,532 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 27 57,309 516.56 577.28 540.23 112A 3 Rib, ribeye, bnls, light 7 28,540 608.76 625.00 619.76 112A 3 Rib, ribeye, bnls, heavy 29 31,343 580.00 676.35 623.63 113C 1 Chuck, semi-bnls, neck/off 5 8,079 202.93 218.00 212.77 114 1 Chuck, shoulder clod 15 97,794 199.82 218.50 213.42 114A 3 Chuck, shoulder clod, trmd 20 117,553 217.75 228.00 223.86 114D 3 Chuck, clod, top blade 8 5,424 267.00 296.42 281.57 114E 3 Chuck, clod, arm roast 5 20,128 255.00 290.00 285.69 114F 5 Chuck, clod tender (IM) 5 8,956 326.50 392.00 360.09 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 38 168,453 230.00 246.76 235.57 116B 1 Chuck, chuck tender (IM) 23 36,335 219.00 242.00 229.04

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 31 57,468 210.00 223.76 212.81 120A 3 Brisket, point/off, bnls 13 10,228 336.00 370.69 343.10 123A 3 Short Plate, short rib 20 14,612 304.00 371.00 337.75 130 4 Chuck, short rib 15 29,365 215.00 247.76 227.78 160 1 Round, bone-in 3 10,591 210.00 222.50 221.98 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 34 62,852 235.00 260.00 250.56 168 1 Round, top inside round 12 29,733 208.00 218.00 214.63 168 3 Round, top inside round 11 60,961 215.00 231.00 220.77 169 5 Round, top inside, denuded 13 19,723 250.00 267.50 258.28

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 2,019 210.00 210.79 210.48 171B 3 Round, outside round 39 152,425 219.00 229.50 221.89 171C 3 Round, eye of round (IM) 29 36,001 236.00 255.00 247.71 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 15,302 521.00 550.24 537.34 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 4 4,265 485.00 520.00 492.42 180 3 Loin, strip, bnls, 0x1 28 26,834 550.76 580.24 572.28 184 1 Loin, top butt, bnls, heavy 7 4,793 290.00 326.42 304.36 184 3 Loin, top butt, boneless 8 19,206 329.60 340.00 335.19 185A 4 Loin, bottom sirloin, flap 19 38,211 399.62 430.43 415.77 185B 1 Loin, ball-tip, bnls, heavy 3 5,125 300.00 317.00 301.59 185C 1 Loin, sirloin, tri-tip (IM) 6 17,496 311.00 335.00 313.76 185D 4 Loin, tri-tip, pld (IM) 14 2,356 428.63 459.00 435.33 189A 4 Loin, tndrloin, trmd, heavy 13 19,578 885.00 945.00 902.51 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 17 6,963 425.76 455.00 438.48 ------------------------------------------------------------------------------- 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 26 84,590 495.76 531.25 515.02 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 33 30,337 562.00 600.96 582.77 113C 1 Chuck, semi-bnls, neck/off 6 11,027 202.00 215.00 211.41 114 1 Chuck, shoulder clod 5 44,260 206.00 216.00 214.88 114A 3 Chuck, shoulder clod, trmd 11 57,227 220.00 230.00 228.47 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 14 150,370 230.00 243.00 231.44 116B 1 Chuck, chuck tender (IM) 7 25,170 230.50 245.00 236.76

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 7 22,259 210.00 220.00 216.37 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 6 14,655 218.00 226.00 220.66 160 1 Round, bone-in 161 1 Round, boneless 3 2,445 226.70 228.00 226.94

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 7 14,665 248.00 260.00 255.01 168 1 Round, top inside round 4 5,455 206.00 228.57 212.06 168 3 Round, top inside round 7 24,981 220.47 235.57 223.34 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 11 59,284 220.23 228.00 222.59 171C 3 Round, eye of round (IM) 11 21,323 246.00 250.75 249.80 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 15 8,045 479.95 505.50 500.89 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 16 25,899 482.00 516.00 506.17 184 1 Loin, top butt, bnls, heavy 6 8,144 280.00 290.00 287.49 184 3 Loin, top butt, boneless 15 66,005 291.76 300.50 294.14 185A 4 Loin, bottom sirloin, flap 5 8,228 399.00 420.00 407.16 185B 1 Loin, ball-tip, bnls, heavy 8 4,358 276.00 320.00 294.16 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 10 6,066 870.00 908.00 888.06 191A 4 Loin, butt tender, trimmed 5 8,225 825.00 875.50 874.60 193 4 Flank, flank steak (IM) 7 19,517 420.00 454.22 442.79 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 9,387 109.00 113.60 111.95 121D 4 Plate, Inside Skirt (IM) 23 45,929 323.00 366.00 346.48 121C 4 Plate, Outside Skirt (IM) 4 6,862 465.54 486.50 474.48 121E 6 Outside Skirt, pld (IM) 5 9,593 650.00 678.40 666.04

Cap, Wedge Meat & (IM) Lean 15 67,463 235.00 259.55 252.17

Pectoral Meat 17 28,915 278.00 292.00 282.17 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 15 64,249 167.00 182.00 176.00 Ground Beef 75% Ground Beef 81% 21 189,194 177.00 197.14 186.52 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 13 87,275 253.65 266.25 256.11 Ground Beef Chuck 80% 11 163,160 185.00 200.57 193.62 Ground Beef Round 85% 8 13,239 208.00 220.90 218.93 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% 5 6,783 195.60 202.35 197.44 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 22 585,836 94.08 103.50 99.41 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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