USDA Boxed Beef Cutout Midday Prices for April 25

April 25 (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: 190.67 188.05 Change from prior day: 0.73 0.84 ------------------------------------------------------------------------------- Choice/Select spread: 2.61

Total Load Count (Cuts, Trimmings, Grids): 99 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 268.22 264.86 Primal Chuck 157.48 156.23 Primal Round 162.37 162.06 Primal Loin 270.65 262.05 Primal Brisket 131.39 130.95 Primal Short Plate 137.66 140.02 Primal Flank 107.55 103.96 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/24 89 45 16 33 182 189.94 187.21 04/23 61 46 7 22 136 188.57 184.99 04/20 69 46 6 25 145 188.01 184.39 04/19 81 46 30 26 183 187.08 184.71 04/18 110 56 24 50 240 185.76 183.84 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 187.87 185.03 -------------------------------------------------------------------------------- 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 35.88 loads 1,435,316 pounds Select Cuts 31.97 loads 1,278,700 pounds Trimmings 6.35 loads 254,108 pounds Ground Beef 24.52 load 980,781 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 21 17,633 535.00 570.79 546.97 112A 3 Rib, ribeye, bnls, light 17 25,013 581.51 630.00 598.86 112A 3 Rib, ribeye, bnls, heavy 49 61,990 582.00 635.00 598.84 113C 1 Chuck, semi-bnls, neck/off 9 8,720 191.00 204.00 196.93 114 1 Chuck, shoulder clod 14 74,241 192.00 200.85 196.88 114A 3 Chuck, shoulder clod, trmd 24 70,066 202.00 216.00 206.89 114D 3 Chuck, clod, top blade 5 3,417 254.00 280.94 255.34 114E 3 Chuck, clod, arm roast 8 13,388 218.00 255.00 221.69 114F 5 Chuck, clod tender (IM) 10 7,855 341.79 411.25 398.97 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 50 113,119 211.65 223.00 217.21 116B 1 Chuck, chuck tender (IM) 23 36,593 211.00 231.00 215.42

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 39 66,998 188.98 204.85 194.85 120A 3 Brisket, point/off, bnls 15 8,586 300.00 315.00 312.52 123A 3 Short Plate, short rib 19 26,981 270.00 360.25 337.28 130 4 Chuck, short rib 17 32,845 181.50 226.89 193.08 160 1 Round, bone-in 5 9,133 194.95 206.00 200.57 161 1 Round, boneless 4 3,274 207.00 212.00 209.55

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 37 39,994 218.00 235.00 229.05 168 1 Round, top inside round 32 71,938 196.00 210.00 201.28 168 3 Round, top inside round 19 44,643 208.21 223.00 212.63 169 5 Round, top inside, denuded 22 39,285 241.00 257.29 243.02

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 3,204 195.35 210.00 209.42 171B 3 Round, outside round 35 119,337 198.00 215.50 204.01 171C 3 Round, eye of round (IM) 41 48,125 207.00 222.00 213.89 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 25 19,947 565.00 580.00 568.93 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 13 8,496 495.00 535.35 514.77 180 3 Loin, strip, bnls, 0x1 34 48,694 567.00 594.00 584.06 184 1 Loin, top butt, bnls, heavy 21 12,700 305.00 320.85 314.33 184 3 Loin, top butt, boneless 22 73,151 325.00 345.00 333.15 185A 4 Loin, bottom sirloin, flap 21 27,268 398.00 431.76 425.52 185B 1 Loin, ball-tip, bnls, heavy 21 26,148 221.50 256.45 230.50 185C 1 Loin, sirloin, tri-tip (IM) 13 27,206 307.00 327.60 311.57 185D 4 Loin, tri-tip, pld (IM) 8 18,062 426.00 440.63 433.89 189A 4 Loin, tndrloin, trmd, heavy 36 36,179 923.67 980.00 931.23 191A 4 Loin, butt tender, trimmed 5 3,035 873.81 950.00 891.86 193 4 Flank, flank steak (IM) 14 15,117 391.42 431.50 408.06 ------------------------------------------------------------------------------- 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 13 5,753 509.00 535.35 520.25 112A 3 Rib, ribeye, bnls, light 12 13,912 550.50 601.10 572.17 112A 3 Rib, ribeye, bnls, heavy 34 51,547 558.50 605.00 568.88 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 17 119,968 190.00 205.00 192.78 114A 3 Chuck, shoulder clod, trmd 15 60,908 202.00 209.00 206.87 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 3,008 340.00 410.00 381.28 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 154,026 210.00 225.25 215.25 116B 1 Chuck, chuck tender (IM) 7 6,674 212.21 219.10 214.99

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 11 18,858 193.00 200.00 194.83 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 3,082 340.00 355.00 347.45 130 4 Chuck, short rib 7 15,531 190.00 214.37 191.09 160 1 Round, bone-in 161 1 Round, boneless 4 3,404 204.98 214.00 209.06

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 20 43,513 221.79 231.10 226.92 168 1 Round, top inside round 21 44,433 200.00 210.00 203.85 168 3 Round, top inside round 13 23,400 204.87 222.75 208.05 169 5 Round, top inside, denuded 6 4,064 241.00 249.00 242.01

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 3,601 201.42 210.00 209.54 171B 3 Round, outside round 22 58,239 196.21 212.10 203.00 171C 3 Round, eye of round (IM) 11 13,435 210.00 223.00 215.25 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 35,004 520.00 545.00 539.31 175 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 25,266 525.00 540.50 527.25 184 1 Loin, top butt, bnls, heavy 15 39,651 301.88 317.00 304.88 184 3 Loin, top butt, boneless 30 71,307 321.59 345.00 331.83 185A 4 Loin, bottom sirloin, flap 3 5,396 410.00 431.76 418.98 185B 1 Loin, ball-tip, bnls, heavy 7 18,080 223.00 246.00 227.17 185C 1 Loin, sirloin, tri-tip (IM) 9 11,041 313.11 320.00 318.44 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 21 24,909 918.00 963.00 925.89 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 20,712 365.00 386.00 372.36 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 6,744 96.61 120.00 113.11 121D 4 Plate, Inside Skirt (IM) 13 22,423 348.87 365.00 355.75 121C 4 Plate, Outside Skirt (IM) 16 21,780 497.00 519.33 507.52 121E 6 Outside Skirt, pld (IM) 8 7,120 655.00 755.00 673.62

Cap, Wedge Meat & (IM) Lean 55 280,645 223.00 246.00 237.01

Pectoral Meat 20 23,737 225.00 255.75 245.39 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 39 121,067 170.81 190.00 174.91 Ground Beef 75% Ground Beef 81% 73 316,010 197.64 214.25 209.00 Ground Beef 85% Ground Beef 90% Ground Beef 93% 31 60,721 269.00 284.75 275.38 Ground Beef Chuck 80% 38 217,846 203.00 218.30 211.44 Ground Beef Round 85% 42 109,796 219.84 228.00 224.69 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 30,208 202.00 220.00 211.20 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 10 254,108 83.50 91.00 86.78 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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