USDA Boxed Beef Cutout Midday Prices for June 18

June 18 (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: 197.19 179.81 Change from prior day: (0.81) (1.30) ------------------------------------------------------------------------------- Choice/Select spread: 17.38

Total Load Count (Cuts, Trimmings, Grids): 117 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 303.89 257.06 Primal Chuck 150.94 148.02 Primal Round 155.68 155.51 Primal Loin 303.21 251.35 Primal Brisket 136.91 131.08 Primal Short Plate 121.61 125.95 Primal Flank 104.51 98.05 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/15 77 54 19 46 196 198.00 181.11 06/14 129 60 19 50 257 198.17 181.96 06/13 121 104 24 46 295 197.76 182.03 06/12 90 77 14 32 212 197.48 182.22 06/11 84 53 27 27 191 197.69 183.66 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.82 182.20 -------------------------------------------------------------------------------- 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 64.55 loads 2,581,899 pounds Select Cuts 27.21 loads 1,088,302 pounds Trimmings 15.10 loads 604,069 pounds Ground Beef 10.04 load 401,533 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 32 187,194 616.88 656.00 628.17 112A 3 Rib, ribeye, bnls, light 4 3,393 724.34 726.00 725.59 112A 3 Rib, ribeye, bnls, heavy 24 70,546 699.00 746.00 726.67 113C 1 Chuck, semi-bnls, neck/off 3 34,820 197.00 197.80 197.78 114 1 Chuck, shoulder clod 5 6,549 188.62 204.50 197.92 114A 3 Chuck, shoulder clod, trmd 15 23,271 204.00 225.00 211.30 114D 3 Chuck, clod, top blade 11 22,081 288.00 306.00 296.70 114E 3 Chuck, clod, arm roast 13 34,107 225.00 254.50 238.33 114F 5 Chuck, clod tender (IM) 5 7,363 345.00 387.44 347.58 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 27 97,850 210.00 226.00 215.82 116B 1 Chuck, chuck tender (IM) 23 73,525 209.31 218.50 212.13

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 33 80,996 206.20 224.00 217.43 120A 3 Brisket, point/off, bnls 10 7,883 326.00 342.60 330.86 123A 3 Short Plate, short rib 17 27,003 262.00 367.00 331.00 130 4 Chuck, short rib 16 42,674 184.20 225.00 194.76 160 1 Round, bone-in 161 1 Round, boneless 3 3,968 203.50 204.00 203.54

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 48 156,482 204.55 228.29 213.12 168 1 Round, top inside round 20 97,410 194.00 210.00 199.43 168 3 Round, top inside round 11 22,785 206.00 223.28 209.71 169 5 Round, top inside, denuded 20 95,288 237.40 251.67 242.21

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 46 414,520 179.43 204.00 188.27 171C 3 Round, eye of round (IM) 45 117,508 200.00 220.00 207.31 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 16 183,058 653.00 688.00 667.03 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 10,842 665.00 695.50 689.35 180 3 Loin, strip, bnls, 0x1 29 137,405 765.00 800.00 783.04 184 1 Loin, top butt, bnls, heavy 7 6,136 345.00 356.00 348.43 184 3 Loin, top butt, boneless 33 203,225 346.00 375.00 361.85 185A 4 Loin, bottom sirloin, flap 19 69,286 423.00 475.00 440.61 185B 1 Loin, ball-tip, bnls, heavy 14 14,150 235.00 245.00 241.91 185C 1 Loin, sirloin, tri-tip (IM) 4 4,923 365.00 367.89 365.98 185D 4 Loin, tri-tip, pld (IM) 3 2,158 476.00 507.89 477.49 189A 4 Loin, tndrloin, trmd, heavy 31 68,507 953.00 1016.00 969.73 191A 4 Loin, butt tender, trimmed 7 3,640 940.94 980.00 943.64 193 4 Flank, flank steak (IM) 10 11,289 454.31 477.00 467.37 ------------------------------------------------------------------------------- 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 5 1,830 525.00 537.00 533.89 112A 3 Rib, ribeye, bnls, light 7 28,606 559.00 595.00 592.44 112A 3 Rib, ribeye, bnls, heavy 13 21,856 577.00 598.00 584.83 113C 1 Chuck, semi-bnls, neck/off 3 2,689 190.21 200.00 196.59 114 1 Chuck, shoulder clod 6 21,708 194.00 203.00 195.61 114A 3 Chuck, shoulder clod, trmd 10 14,008 206.50 215.00 209.58 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 6 7,210 305.00 331.00 313.51 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 146,826 209.37 226.00 216.39 116B 1 Chuck, chuck tender (IM) 4 5,899 215.00 220.00 217.09

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 74,583 205.00 221.50 209.31 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 10,188 245.00 356.00 305.09 130 4 Chuck, short rib 6 15,802 184.20 225.00 194.31 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 8 12,748 204.55 218.00 210.73 168 1 Round, top inside round 10 45,124 195.00 202.00 196.27 168 3 Round, top inside round 6 28,877 206.00 210.80 207.48 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 18 240,946 187.00 205.00 189.43 171C 3 Round, eye of round (IM) 5 8,037 205.00 211.50 205.41 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 10 19,570 520.85 549.00 537.58 175 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 8 11,858 504.00 565.00 520.21 184 1 Loin, top butt, bnls, heavy 6 10,203 280.00 296.00 281.36 184 3 Loin, top butt, boneless 17 74,777 280.00 309.95 289.87 185A 4 Loin, bottom sirloin, flap 4 7,635 455.88 470.00 462.52 185B 1 Loin, ball-tip, bnls, heavy 8 77,377 225.00 235.00 229.26 185C 1 Loin, sirloin, tri-tip (IM) 5 31,271 305.00 333.50 309.21 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 14 13,858 870.00 924.00 887.62 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 8 22,176 400.88 436.00 418.49 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 3,577 112.00 130.00 121.28 121D 4 Plate, Inside Skirt (IM) 19 75,355 355.00 380.00 362.85 121C 4 Plate, Outside Skirt (IM) 9 9,842 531.00 562.00 546.02 121E 6 Outside Skirt, pld (IM) 7 15,042 735.00 765.00 740.69

Cap, Wedge Meat & (IM) Lean 19 77,652 230.00 245.00 235.55

Pectoral Meat 18 91,092 232.60 250.00 233.37 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 14 62,431 146.00 157.00 150.42 Ground Beef 75% Ground Beef 81% 27 149,105 166.85 196.49 175.23 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 10 81,068 235.00 269.00 247.61 Ground Beef Chuck 80% 5 25,295 167.00 195.00 174.97 Ground Beef Round 85% 6 59,020 212.00 217.00 216.47 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% Blended Ground Beef 85% 0 0 Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 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 17 604,069 43.00 49.00 47.30 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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