USDA Boxed Beef Cutout Midday Prices for May 11

May 11 (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: 188.93 183.04 Change from prior day: (0.99) (0.82) ------------------------------------------------------------------------------- Choice/Select spread: 5.89

Total Load Count (Cuts, Trimmings, Grids): 81 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 265.27 245.52 Primal Chuck 157.63 155.89 Primal Round 161.87 159.47 Primal Loin 269.62 256.10 Primal Brisket 130.55 131.18 Primal Short Plate 126.68 130.24 Primal Flank 98.83 98.13 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/10 94 96 34 36 260 189.92 183.86 05/09 104 76 9 58 247 191.51 185.95 05/08 83 63 13 36 195 190.82 185.99 05/07 71 50 16 32 168 190.48 184.68 05/04 84 72 24 31 211 190.29 186.11 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.60 185.32 -------------------------------------------------------------------------------- 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 38.68 loads 1,547,277 pounds Select Cuts 25.10 loads 1,004,079 pounds Trimmings 0.00 loads 0 pounds Ground Beef 16.71 load 668,516 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 8 6,169 545.00 565.00 551.80 112A 3 Rib, ribeye, bnls, light 6 6,780 611.00 620.00 617.20 112A 3 Rib, ribeye, bnls, heavy 17 16,302 591.00 620.00 604.83 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 13 63,645 190.00 205.50 193.22 114A 3 Chuck, shoulder clod, trmd 20 166,626 203.79 220.50 210.75 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 4 122,702 206.03 218.00 206.58 114F 5 Chuck, clod tender (IM) 3 1,986 351.50 410.00 393.18 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 23 149,654 217.00 231.00 224.08 116B 1 Chuck, chuck tender (IM) 10 18,933 211.00 223.00 214.26

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 16 92,998 193.50 206.50 198.26 120A 3 Brisket, point/off, bnls 5 5,853 320.00 336.33 326.19 123A 3 Short Plate, short rib 3 3,062 339.00 361.00 353.22 130 4 Chuck, short rib 11 41,486 185.00 225.00 194.42 160 1 Round, bone-in 5 12,550 194.00 211.00 198.96 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 17 62,711 225.00 240.00 229.85 168 1 Round, top inside round 11 46,872 197.00 217.00 207.94 168 3 Round, top inside round 20 218,956 205.00 225.00 213.91 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 3,946 206.00 213.00 209.32 171B 3 Round, outside round 24 67,939 191.98 218.00 205.70 171C 3 Round, eye of round (IM) 19 85,700 204.33 225.00 210.18 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 13 16,862 570.00 598.00 580.61 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 10 7,237 516.00 536.00 520.31 180 3 Loin, strip, bnls, 0x1 18 29,586 591.00 618.00 602.50 184 1 Loin, top butt, bnls, heavy 9 8,933 310.00 331.00 313.14 184 3 Loin, top butt, boneless 10 15,982 324.00 339.27 335.83 185A 4 Loin, bottom sirloin, flap 14 33,983 428.00 441.00 432.07 185B 1 Loin, ball-tip, bnls, heavy 12 20,870 232.50 235.50 234.73 185C 1 Loin, sirloin, tri-tip (IM) 4 11,950 295.29 320.00 311.18 185D 4 Loin, tri-tip, pld (IM) 4 1,346 415.00 446.50 437.59 189A 4 Loin, tndrloin, trmd, heavy 26 36,194 925.00 975.00 938.66 191A 4 Loin, butt tender, trimmed 4 1,542 922.96 965.00 936.21 193 4 Flank, flank steak (IM) 6 8,892 401.00 425.00 403.46 ------------------------------------------------------------------------------- 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 7 14,068 490.50 534.75 502.54 112A 3 Rib, ribeye, bnls, light 4 12,683 530.00 540.00 530.55 112A 3 Rib, ribeye, bnls, heavy 8 8,494 530.00 549.48 540.00 113C 1 Chuck, semi-bnls, neck/off 3 6,791 203.00 206.50 203.50 114 1 Chuck, shoulder clod 5 23,454 194.00 206.00 201.65 114A 3 Chuck, shoulder clod, trmd 11 55,402 210.00 220.00 211.04 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 2,637 327.00 375.00 354.54 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 177,481 215.50 224.75 221.44 116B 1 Chuck, chuck tender (IM) 3 12,076 215.00 232.00 218.56

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 7 24,185 192.00 205.00 201.83 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 9,674 279.29 361.00 303.61 130 4 Chuck, short rib 7 17,207 188.75 225.00 200.20 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 13 41,394 230.68 248.27 233.35 168 1 Round, top inside round 4 95,693 193.00 197.00 193.60 168 3 Round, top inside round 22 60,295 199.00 222.00 209.24 169 5 Round, top inside, denuded 7 25,122 231.00 248.00 238.39

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 7,291 192.00 210.00 195.11 171B 3 Round, outside round 15 77,499 193.00 211.00 199.20 171C 3 Round, eye of round (IM) 12 37,308 205.00 227.50 213.28 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 4 5,097 536.00 547.01 539.28 175 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 3 16,189 539.95 540.00 539.95 184 1 Loin, top butt, bnls, heavy 0 0 184 3 Loin, top butt, boneless 7 13,808 309.00 330.00 312.56 185A 4 Loin, bottom sirloin, flap 4 5,287 435.00 455.00 443.42 185B 1 Loin, ball-tip, bnls, heavy 9 19,009 217.00 233.50 219.21 185C 1 Loin, sirloin, tri-tip (IM) 3 14,456 315.00 323.06 316.44 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 6 4,517 915.00 929.75 919.52 191A 4 Loin, butt tender, trimmed 4 1,418 929.31 934.58 930.18 193 4 Flank, flank steak (IM) 10 41,660 364.26 425.60 371.21 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 13,534 97.00 125.00 105.70 121D 4 Plate, Inside Skirt (IM) 15 32,230 344.00 365.60 347.97 121C 4 Plate, Outside Skirt (IM) 21 60,178 491.00 551.00 505.83 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 17 56,057 224.00 240.00 229.05

Pectoral Meat 13 54,798 217.00 250.00 228.78 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 13 230,190 158.41 186.93 164.85 Ground Beef 75% 0 0 Ground Beef 81% 20 70,998 208.50 221.00 216.19 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 17 272,834 202.75 229.12 209.48 Ground Beef Round 85% 8 21,202 223.50 232.00 226.43 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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 14,697 207.25 222.60 217.77 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 0 0 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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