USDA Boxed Beef Cutout Closing Prices for June 20

June 20 (Bloomberg) -- This table details boxed beef cutout prices supplied daily by the U.S. Department of Agriculture. Prices and loads traded are as of 3:00 p.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: 198.00 180.22 Change from prior day: 0.06 (0.81) ------------------------------------------------------------------------------- Choice/Select spread: 17.78

Total Load Count (Cuts, Trimmings, Grids): 249 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 306.14 260.84 Primal Chuck 147.68 145.40 Primal Round 155.76 155.75 Primal Loin 308.93 251.50 Primal Brisket 139.21 140.12 Primal Short Plate 123.38 127.98 Primal Flank 106.16 100.49 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/19 67 68 25 32 192 197.94 181.03 06/18 97 50 15 20 182 197.49 180.60 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.87 181.35 -------------------------------------------------------------------------------- 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 98.00 loads 3,919,920 pounds Select Cuts 96.11 loads 3,844,225 pounds Trimmings 11.97 loads 478,901 pounds Ground Beef 42.61 load 1,704,420 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 51 66,722 587.98 676.84 639.58 112A 3 Rib, ribeye, bnls, light 20 66,771 708.00 747.00 734.21 112A 3 Rib, ribeye, bnls, heavy 119 162,328 708.00 740.95 725.79 113C 1 Chuck, semi-bnls, neck/off 14 170,335 193.00 207.00 193.48 114 1 Chuck, shoulder clod 25 80,866 190.00 206.16 197.89 114A 3 Chuck, shoulder clod, trmd 64 341,069 193.00 218.50 196.99 114D 3 Chuck, clod, top blade 11 9,583 289.00 331.30 303.01 114E 3 Chuck, clod, arm roast 12 37,981 221.00 241.90 226.39 114F 5 Chuck, clod tender (IM) 20 16,808 335.75 392.00 352.74 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 123 339,097 206.00 227.00 212.62 116B 1 Chuck, chuck tender (IM) 53 77,921 209.30 220.00 214.69

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 105 130,781 212.00 230.00 219.45 120A 3 Brisket, point/off, bnls 29 29,297 329.00 342.00 334.93 123A 3 Short Plate, short rib 57 58,392 240.00 361.00 313.67 130 4 Chuck, short rib 84 166,799 184.00 230.00 192.94 160 1 Round, bone-in 7 12,407 186.00 205.15 191.96 161 1 Round, boneless 6 9,964 196.00 208.50 198.09

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 96 311,284 201.50 225.72 207.15 168 1 Round, top inside round 77 121,805 194.00 210.00 201.64 168 3 Round, top inside round 26 132,609 204.70 223.00 211.04 169 5 Round, top inside, denuded 25 32,400 229.00 249.60 242.91

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 3,465 190.75 205.00 194.52 171B 3 Round, outside round 94 492,889 185.00 201.50 188.32 171C 3 Round, eye of round (IM) 90 121,751 199.98 218.00 206.80 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 30 17,878 665.72 701.00 686.53 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 24 15,768 691.50 716.25 696.57 180 3 Loin, strip, bnls, 0x1 71 78,113 773.00 829.00 797.26 184 1 Loin, top butt, bnls, heavy 52 28,767 341.29 356.00 352.44 184 3 Loin, top butt, boneless 43 47,887 359.00 380.70 370.97 185A 4 Loin, bottom sirloin, flap 74 99,311 457.00 492.00 475.83 185B 1 Loin, ball-tip, bnls, heavy 39 50,380 220.00 252.00 238.25 185C 1 Loin, sirloin, tri-tip (IM) 21 39,089 355.00 375.00 369.06 185D 4 Loin, tri-tip, pld (IM) 37 36,512 476.49 517.00 485.25 189A 4 Loin, tndrloin, trmd, heavy 91 147,974 961.00 1015.00 976.73 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 23 19,232 462.50 489.00 471.26 ------------------------------------------------------------------------------- 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 28 40,704 505.00 546.50 521.55 112A 3 Rib, ribeye, bnls, light 25 105,415 548.50 604.53 573.95 112A 3 Rib, ribeye, bnls, heavy 65 146,333 548.50 606.50 592.16 113C 1 Chuck, semi-bnls, neck/off 12 17,985 190.00 206.33 199.24 114 1 Chuck, shoulder clod 22 228,138 187.00 201.50 191.34 114A 3 Chuck, shoulder clod, trmd 25 155,514 193.00 211.50 201.43 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 10 6,012 315.00 355.00 327.91 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 59 315,521 200.24 222.30 210.25 116B 1 Chuck, chuck tender (IM) 24 27,452 210.00 221.23 212.28

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 26 82,035 209.80 230.00 221.85 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 15 27,066 224.00 325.00 240.86 130 4 Chuck, short rib 24 55,780 184.20 200.00 192.90 160 1 Round, bone-in 161 1 Round, boneless 10 10,976 192.00 208.00 200.58

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 38 105,858 201.50 225.00 210.64 168 1 Round, top inside round 34 103,298 193.00 210.00 199.63 168 3 Round, top inside round 19 88,942 203.00 221.25 207.04 169 5 Round, top inside, denuded 14 17,072 233.00 250.00 244.18

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 2,995 195.83 200.00 199.71 171B 3 Round, outside round 49 218,379 187.00 201.00 189.49 171C 3 Round, eye of round (IM) 36 64,263 200.15 216.25 206.46 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 43 51,131 487.90 560.80 532.63 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 41 110,057 500.00 560.00 531.41 184 1 Loin, top butt, bnls, heavy 30 245,634 268.00 288.00 270.66 184 3 Loin, top butt, boneless 48 441,726 274.40 312.00 277.44 185A 4 Loin, bottom sirloin, flap 16 41,918 444.00 480.00 460.30 185B 1 Loin, ball-tip, bnls, heavy 32 112,702 220.00 239.53 231.22 185C 1 Loin, sirloin, tri-tip (IM) 20 129,547 307.25 336.71 322.20 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 42 121,060 887.40 951.00 899.50 191A 4 Loin, butt tender, trimmed 12 7,843 913.00 933.00 922.32 193 4 Flank, flank steak (IM) 20 69,750 404.00 462.00 430.75 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 11 69,530 113.00 121.50 116.03 121D 4 Plate, Inside Skirt (IM) 36 67,965 346.16 384.00 362.32 121C 4 Plate, Outside Skirt (IM) 26 27,652 510.00 557.00 542.64 121E 6 Outside Skirt, pld (IM) 13 18,624 735.00 816.00 745.83

Cap, Wedge Meat & (IM) Lean 88 427,305 224.00 250.00 232.04

Pectoral Meat 40 96,152 224.00 257.00 235.48 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 67 192,673 146.00 162.53 149.47 Ground Beef 75% Ground Beef 81% 101 655,115 155.00 194.50 175.37 Ground Beef 85% Ground Beef 90% Ground Beef 93% 32 89,609 236.00 270.00 244.48 Ground Beef Chuck 80% 38 292,907 155.00 196.00 165.14 Ground Beef Round 85% 39 119,351 212.00 220.00 216.92 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% 11 44,701 193.30 230.00 210.66 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 15 421,151 46.85 55.00 50.15 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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