USDA Boxed Beef Cutout Midday Prices for April 12

April 12 (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: 176.55 176.86 Change from prior day: (0.51) (0.82) ------------------------------------------------------------------------------- Choice/Select spread: (0.32)

Total Load Count (Cuts, Trimmings, Grids): 134 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 257.55 250.97 Primal Chuck 142.81 143.98 Primal Round 153.49 152.87 Primal Loin 249.28 252.13 Primal Brisket 119.47 119.65 Primal Short Plate 122.30 126.82 Primal Flank 96.70 94.27 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/11 144 77 91 51 364 177.06 177.68 04/10 140 68 10 39 258 178.08 177.35 04/09 72 27 47 25 171 178.61 176.88 04/06 74 45 14 21 155 177.61 175.30 04/05 138 68 40 36 281 178.51 176.66 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 177.98 176.77 -------------------------------------------------------------------------------- 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 72.04 loads 2,881,712 pounds Select Cuts 34.19 loads 1,367,571 pounds Trimmings 13.63 loads 545,010 pounds Ground Beef 14.13 load 565,320 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 15 40,350 508.00 571.00 520.10 112A 3 Rib, ribeye, bnls, light 11 50,028 550.00 626.00 564.09 112A 3 Rib, ribeye, bnls, heavy 49 130,082 563.90 625.00 578.04 113C 1 Chuck, semi-bnls, neck/off 4 2,893 186.00 199.00 193.64 114 1 Chuck, shoulder clod 22 64,129 175.00 184.00 179.53 114A 3 Chuck, shoulder clod, trmd 37 236,842 182.79 194.00 184.90 114D 3 Chuck, clod, top blade 5 4,480 241.25 260.63 248.42 114E 3 Chuck, clod, arm roast 8 14,715 205.00 249.91 224.61 114F 5 Chuck, clod tender (IM) 7 10,025 310.00 410.00 356.20 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 59 386,294 192.00 208.00 195.39 116B 1 Chuck, chuck tender (IM) 21 68,897 187.00 211.00 200.96

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 38 93,550 175.00 195.63 182.91 120A 3 Brisket, point/off, bnls 11 9,479 315.00 339.75 321.28 123A 3 Short Plate, short rib 22 21,898 274.00 360.00 325.78 130 4 Chuck, short rib 27 28,079 185.00 221.79 198.15 160 1 Round, bone-in 4 10,117 193.00 202.00 194.61 161 1 Round, boneless 4 4,305 200.00 209.95 203.68

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 53 165,955 195.00 229.75 209.77 168 1 Round, top inside round 34 57,671 183.00 205.00 199.38 168 3 Round, top inside round 19 119,088 196.79 217.63 208.50 169 5 Round, top inside, denuded 10 17,510 231.00 248.00 244.88

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 17,231 178.25 205.00 191.79 171B 3 Round, outside round 32 238,331 174.63 191.63 181.94 171C 3 Round, eye of round (IM) 20 74,371 198.25 216.00 204.04 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 18 18,625 517.00 546.00 527.89 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 7 8,288 437.75 476.42 463.15 180 3 Loin, strip, bnls, 0x1 38 55,483 499.02 551.00 524.05 184 1 Loin, top butt, bnls, heavy 26 218,692 265.75 305.00 268.07 184 3 Loin, top butt, boneless 13 53,415 310.00 336.00 312.54 185A 4 Loin, bottom sirloin, flap 46 260,695 363.05 396.00 386.06 185B 1 Loin, ball-tip, bnls, heavy 26 135,214 225.00 261.00 231.66 185C 1 Loin, sirloin, tri-tip (IM) 10 7,202 310.00 335.00 321.51 185D 4 Loin, tri-tip, pld (IM) 6 2,211 435.00 456.00 447.67 189A 4 Loin, tndrloin, trmd, heavy 42 96,351 879.76 970.00 895.49 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 13 16,896 363.00 430.00 386.38 ------------------------------------------------------------------------------- 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 10 13,008 517.42 545.50 523.02 112A 3 Rib, ribeye, bnls, light 10 139,662 517.00 585.00 519.87 112A 3 Rib, ribeye, bnls, heavy 17 36,712 518.40 602.00 565.10 113C 1 Chuck, semi-bnls, neck/off 7 23,610 179.00 200.50 187.56 114 1 Chuck, shoulder clod 7 46,849 176.00 179.00 177.69 114A 3 Chuck, shoulder clod, trmd 10 26,285 186.00 200.50 189.25 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 4,287 311.00 321.50 316.57 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 20 98,524 192.00 206.00 195.66 116B 1 Chuck, chuck tender (IM) 8 39,323 187.00 210.00 200.71

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 16 66,833 173.40 192.00 182.39 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 5 40,692 177.00 215.79 180.89 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 21 126,368 195.00 220.25 208.74 168 1 Round, top inside round 4 11,227 192.50 204.15 197.36 168 3 Round, top inside round 18 53,115 195.00 215.00 205.90 169 5 Round, top inside, denuded 4 3,918 232.50 244.25 242.05

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 15,172 180.79 210.00 194.17 171B 3 Round, outside round 12 88,801 170.40 192.00 178.76 171C 3 Round, eye of round (IM) 12 28,318 202.00 211.58 203.20 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 14 38,308 480.00 545.00 487.62 175 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 10 13,611 454.02 535.00 487.88 184 1 Loin, top butt, bnls, heavy 9 56,845 280.79 315.00 286.24 184 3 Loin, top butt, boneless 12 50,961 283.00 335.00 286.98 185A 4 Loin, bottom sirloin, flap 14 65,492 364.00 395.00 379.96 185B 1 Loin, ball-tip, bnls, heavy 10 66,333 225.00 250.50 226.71 185C 1 Loin, sirloin, tri-tip (IM) 7 3,238 296.00 320.50 312.52 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 3 12,250 905.00 917.75 907.94 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 9 14,794 353.00 401.00 376.78 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 17 8,827 87.63 130.60 116.55 121D 4 Plate, Inside Skirt (IM) 21 30,154 335.00 375.00 349.65 121C 4 Plate, Outside Skirt (IM) 15 25,480 494.31 552.00 540.05 121E 6 Outside Skirt, pld (IM) 5 2,350 702.00 797.00 757.93

Cap, Wedge Meat & (IM) Lean 33 139,866 232.00 245.00 238.31

Pectoral Meat 17 40,017 218.00 255.00 223.34 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 20 178,261 159.83 176.00 164.43 Ground Beef 75% Ground Beef 81% 27 86,937 174.00 197.00 182.78 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 8 65,923 253.50 267.50 261.53 Ground Beef Chuck 80% 12 83,284 182.00 191.75 188.25 Ground Beef Round 85% 7 47,385 195.80 224.00 215.10 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% 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 14 482,350 45.00 65.00 49.55 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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