USDA Boxed Beef Cutout Midday Prices for March 28

March 28 (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: 184.34 185.07 Change from prior day: (1.10) (0.31) ------------------------------------------------------------------------------- Choice/Select spread: (0.73)

Total Load Count (Cuts, Trimmings, Grids): 175 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 272.90 276.30 Primal Chuck 147.35 146.55 Primal Round 157.90 158.22 Primal Loin 256.06 257.11 Primal Brisket 131.26 132.18 Primal Short Plate 137.97 142.28 Primal Flank 113.95 111.77 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/27 99 48 15 35 197 185.44 185.38 03/26 90 37 16 26 169 186.75 186.56 03/23 86 42 19 30 177 187.41 186.57 03/22 74 34 20 29 157 188.92 187.67 03/21 135 57 18 46 256 188.97 188.32 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 187.50 186.90 -------------------------------------------------------------------------------- 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 86.55 loads 3,461,905 pounds Select Cuts 47.14 loads 1,885,741 pounds Trimmings 13.02 loads 520,811 pounds Ground Beef 27.84 load 1,113,741 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 23 58,189 540.00 596.00 554.23 112A 3 Rib, ribeye, bnls, light 19 38,527 580.00 665.00 594.20 112A 3 Rib, ribeye, bnls, heavy 47 92,751 579.83 646.21 613.20 113C 1 Chuck, semi-bnls, neck/off 5 20,447 192.33 205.00 194.10 114 1 Chuck, shoulder clod 12 79,457 190.00 194.68 192.37 114A 3 Chuck, shoulder clod, trmd 28 53,813 190.75 207.00 199.55 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 3 5,100 220.00 228.00 222.43 114F 5 Chuck, clod tender (IM) 3 2,937 337.63 390.00 372.30 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 61 181,714 200.00 230.50 207.90 116B 1 Chuck, chuck tender (IM) 33 129,823 209.75 238.55 213.00

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 54 115,100 190.00 206.50 195.87 120A 3 Brisket, point/off, bnls 13 8,653 324.00 350.05 341.23 123A 3 Short Plate, short rib 19 26,537 313.85 377.00 349.35 130 4 Chuck, short rib 9 26,197 195.00 225.79 207.90 160 1 Round, bone-in 6 6,493 194.65 212.00 205.61 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 44 105,572 223.50 235.80 226.87 168 1 Round, top inside round 28 57,517 190.00 201.65 193.57 168 3 Round, top inside round 17 33,951 197.96 215.00 206.32 169 5 Round, top inside, denuded 15 21,091 233.85 248.00 236.11

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 7,995 179.64 201.42 186.10 171B 3 Round, outside round 40 144,752 190.00 205.58 197.12 171C 3 Round, eye of round (IM) 41 157,822 205.00 232.30 209.17 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 12,277 520.35 540.00 534.89 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 20 13,870 450.00 485.35 460.58 180 3 Loin, strip, bnls, 0x1 39 217,885 498.00 548.00 501.66 184 1 Loin, top butt, bnls, heavy 19 14,849 280.00 321.55 308.84 184 3 Loin, top butt, boneless 27 374,836 290.00 330.50 297.56 185A 4 Loin, bottom sirloin, flap 26 53,776 388.26 425.00 401.50 185B 1 Loin, ball-tip, bnls, heavy 19 27,813 280.00 300.00 285.74 185C 1 Loin, sirloin, tri-tip (IM) 10 35,118 326.00 366.00 350.17 185D 4 Loin, tri-tip, pld (IM) 10 9,511 446.00 477.63 461.74 189A 4 Loin, tndrloin, trmd, heavy 30 64,489 920.00 990.00 950.73 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 13,044 418.00 475.00 441.74 ------------------------------------------------------------------------------- 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 22 37,671 535.00 560.35 548.98 112A 3 Rib, ribeye, bnls, light 12 11,317 600.00 620.35 609.35 112A 3 Rib, ribeye, bnls, heavy 45 119,308 598.58 622.00 615.72 113C 1 Chuck, semi-bnls, neck/off 8 10,033 198.00 210.00 203.12 114 1 Chuck, shoulder clod 7 31,198 187.79 196.00 190.47 114A 3 Chuck, shoulder clod, trmd 23 77,706 193.50 206.50 200.41 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 116A 3 Chuck, roll, lxl, neck/off 39 145,033 200.00 218.00 207.05 116B 1 Chuck, chuck tender (IM) 29 89,386 209.75 225.00 213.31

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 69,150 191.00 203.85 195.35 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 12 6,790 275.00 340.00 309.75 130 4 Chuck, short rib 13 31,998 194.75 225.79 197.66 160 1 Round, bone-in 161 1 Round, boneless 8 13,975 211.40 220.85 217.75

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 25 92,698 223.40 240.85 227.65 168 1 Round, top inside round 24 51,376 191.00 202.50 195.68 168 3 Round, top inside round 13 28,222 199.00 212.00 203.91 169 5 Round, top inside, denuded 5 11,771 234.00 236.00 235.19

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 4,546 179.64 191.55 184.31 171B 3 Round, outside round 20 64,538 190.00 201.40 194.40 171C 3 Round, eye of round (IM) 23 48,540 211.33 230.00 217.27 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 26 24,684 479.56 535.00 518.62 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 30 26,865 495.30 538.00 519.58 184 1 Loin, top butt, bnls, heavy 33 53,612 275.00 312.00 288.72 184 3 Loin, top butt, boneless 30 88,556 294.20 326.00 303.75 185A 4 Loin, bottom sirloin, flap 5 6,386 380.00 420.00 396.28 185B 1 Loin, ball-tip, bnls, heavy 10 14,232 285.00 298.85 286.01 185C 1 Loin, sirloin, tri-tip (IM) 5 11,447 344.00 350.00 346.36 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 22 19,151 925.50 950.00 940.57 191A 4 Loin, butt tender, trimmed 6 2,169 859.31 895.65 877.10 193 4 Flank, flank steak (IM) 7 6,759 414.00 458.00 433.57 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 15 65,305 82.63 125.00 95.80 121D 4 Plate, Inside Skirt (IM) 20 23,700 344.00 375.00 358.15 121C 4 Plate, Outside Skirt (IM) 14 10,903 495.79 563.00 533.97 121E 6 Outside Skirt, pld (IM) 5 1,608 790.00 819.00 818.28

Cap, Wedge Meat & (IM) Lean 67 698,851 234.00 265.00 237.40

Pectoral Meat 18 31,164 231.57 261.25 249.65 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 41 177,539 145.00 175.00 155.12 Ground Beef 75% Ground Beef 81% 64 220,639 165.00 195.00 170.02 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 30 92,254 236.00 260.35 247.20 Ground Beef Chuck 80% 49 322,142 160.95 190.10 173.39 Ground Beef Round 85% 41 154,382 205.00 220.00 208.19 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 6,842 184.26 208.60 198.06 Blended Ground Beef 85% Blended Ground Beef 90% 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 18 507,161 80.00 97.14 91.30 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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