USDA Boxed Beef Cutout Midday Prices for March 14

March 14 (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: 190.51 189.61 Change from prior day: (1.62) (1.29) ------------------------------------------------------------------------------- Choice/Select spread: 0.90

Total Load Count (Cuts, Trimmings, Grids): 189 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 277.40 279.06 Primal Chuck 151.86 151.48 Primal Round 159.76 161.33 Primal Loin 272.40 264.99 Primal Brisket 135.39 136.09 Primal Short Plate 139.06 143.05 Primal Flank 118.75 116.56 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/13 108 65 25 28 227 192.13 190.90 03/12 128 38 28 36 230 193.11 192.25 03/09 91 22 45 30 189 193.84 193.36 03/08 94 34 23 47 199 195.80 193.95 03/07 168 48 20 32 269 197.53 195.08 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 194.48 193.11 -------------------------------------------------------------------------------- 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 83.02 loads 3,320,717 pounds Select Cuts 50.53 loads 2,021,381 pounds Trimmings 26.05 loads 1,041,809 pounds Ground Beef 29.46 load 1,178,252 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 26 45,140 557.00 610.00 570.15 112A 3 Rib, ribeye, bnls, light 16 35,496 609.00 665.00 632.06 112A 3 Rib, ribeye, bnls, heavy 56 202,412 580.00 664.00 596.07 113C 1 Chuck, semi-bnls, neck/off 9 19,781 199.00 210.00 202.80 114 1 Chuck, shoulder clod 25 38,487 194.00 208.00 200.25 114A 3 Chuck, shoulder clod, trmd 30 170,119 197.00 215.76 205.12 114D 3 Chuck, clod, top blade 7 8,793 245.00 290.00 273.50 114E 3 Chuck, clod, arm roast 8 7,280 245.00 288.00 271.33 114F 5 Chuck, clod tender (IM) 18 14,044 316.00 390.00 379.33 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 68 606,770 200.30 220.00 205.53 116B 1 Chuck, chuck tender (IM) 33 50,894 233.00 253.50 238.90

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 48 226,190 193.00 210.00 198.43 120A 3 Brisket, point/off, bnls 28 38,087 306.00 346.89 329.12 123A 3 Short Plate, short rib 18 20,228 305.00 361.00 338.44 130 4 Chuck, short rib 29 55,138 199.00 280.00 225.81 160 1 Round, bone-in 7 8,352 197.20 219.63 207.17 161 1 Round, boneless 6 7,834 211.65 219.00 212.55

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 45 127,368 228.00 252.00 235.70 168 1 Round, top inside round 31 79,026 190.00 205.76 193.36 168 3 Round, top inside round 31 302,840 198.00 212.74 201.45 169 5 Round, top inside, denuded 19 24,963 234.00 252.73 238.93

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 9 11,399 197.42 215.00 207.82 171B 3 Round, outside round 55 352,448 190.00 215.50 198.58 171C 3 Round, eye of round (IM) 56 159,390 220.00 240.50 227.94 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 30 46,456 503.00 562.63 527.79 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 18 31,041 505.00 536.74 507.27 180 3 Loin, strip, bnls, 0x1 39 52,670 556.28 595.00 570.62 184 1 Loin, top butt, bnls, heavy 21 53,182 306.00 321.74 313.65 184 3 Loin, top butt, boneless 23 45,089 315.00 346.50 335.93 185A 4 Loin, bottom sirloin, flap 38 184,563 400.00 456.42 418.44 185B 1 Loin, ball-tip, bnls, heavy 20 30,842 299.50 340.00 328.10 185C 1 Loin, sirloin, tri-tip (IM) 13 13,281 326.00 360.00 345.34 185D 4 Loin, tri-tip, pld (IM) 11 20,397 468.00 479.63 475.75 189A 4 Loin, tndrloin, trmd, heavy 29 48,217 911.51 996.89 946.07 191A 4 Loin, butt tender, trimmed 3 4,558 899.27 915.00 903.22 193 4 Flank, flank steak (IM) 11 9,428 441.00 475.00 462.91 ------------------------------------------------------------------------------- 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 12 12,238 546.42 569.00 562.11 112A 3 Rib, ribeye, bnls, light 11 25,062 614.00 635.00 623.34 112A 3 Rib, ribeye, bnls, heavy 36 64,055 606.00 625.30 621.30 113C 1 Chuck, semi-bnls, neck/off 6 12,632 198.00 208.00 203.22 114 1 Chuck, shoulder clod 17 328,198 188.00 205.00 189.76 114A 3 Chuck, shoulder clod, trmd 12 67,948 204.00 224.63 208.09 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 9 19,176 314.39 390.00 327.52 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 626,136 199.00 216.50 202.90 116B 1 Chuck, chuck tender (IM) 17 24,622 236.47 245.00 238.95

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 22 112,351 194.00 209.74 201.69 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 10 7,047 275.00 345.00 284.78 130 4 Chuck, short rib 16 11,556 209.00 270.00 214.01 160 1 Round, bone-in 161 1 Round, boneless 7 4,503 212.00 219.00 214.63

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 16 16,577 235.00 251.00 243.07 168 1 Round, top inside round 29 61,839 190.00 211.00 198.18 168 3 Round, top inside round 12 46,320 198.00 211.00 202.42 169 5 Round, top inside, denuded 4 3,609 234.00 239.00 234.97

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 28 120,564 190.00 218.00 197.03 171C 3 Round, eye of round (IM) 24 35,208 222.71 250.00 230.80 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 22 18,521 519.00 540.50 531.59 175 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 27 25,882 540.00 551.63 547.87 184 1 Loin, top butt, bnls, heavy 27 30,267 310.00 320.00 314.59 184 3 Loin, top butt, boneless 24 24,543 313.50 335.00 332.29 185A 4 Loin, bottom sirloin, flap 6 37,720 427.00 440.00 430.48 185B 1 Loin, ball-tip, bnls, heavy 11 20,160 286.00 310.00 307.46 185C 1 Loin, sirloin, tri-tip (IM) 5 4,850 328.50 360.00 353.76 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 29 65,245 900.00 969.74 928.85 191A 4 Loin, butt tender, trimmed 7 5,705 840.00 890.00 856.11 193 4 Flank, flank steak (IM) 4 2,885 445.00 475.00 464.94 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 9 16,513 111.00 125.00 119.44 121D 4 Plate, Inside Skirt (IM) 15 17,715 347.00 375.00 361.58 121C 4 Plate, Outside Skirt (IM) 12 26,616 515.00 560.00 540.91 121E 6 Outside Skirt, pld (IM) 4 7,868 765.00 819.00 768.11

Cap, Wedge Meat & (IM) Lean 53 106,653 239.95 260.08 246.37

Pectoral Meat 31 103,784 249.94 283.40 259.33 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 51 239,950 160.84 175.00 163.37 Ground Beef 75% Ground Beef 81% 78 367,362 170.00 193.50 179.72 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 32 82,216 240.00 260.00 249.96 Ground Beef Chuck 80% 38 172,255 174.00 196.00 180.20 Ground Beef Round 85% 40 109,061 211.00 222.00 212.13 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% 0 0 Blended Ground Beef 81% 3 8,008 201.00 203.60 202.52 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 16 427,209 90.00 99.50 94.03 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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