USDA Boxed Beef Cutout Closing Prices for June 21

June 21 (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: 197.23 179.99 Change from prior day: (0.77) (0.23) ------------------------------------------------------------------------------- Choice/Select spread: 17.25

Total Load Count (Cuts, Trimmings, Grids): 225 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 306.91 261.62 Primal Chuck 146.65 144.27 Primal Round 155.34 155.25 Primal Loin 306.53 252.21 Primal Brisket 139.30 140.09 Primal Short Plate 124.05 128.04 Primal Flank 106.06 99.52 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/20 98 96 12 43 249 198.00 180.22 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.92 180.99 -------------------------------------------------------------------------------- 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 88.08 loads 3,523,027 pounds Select Cuts 75.39 loads 3,015,444 pounds Trimmings 29.29 loads 1,171,735 pounds Ground Beef 32.66 load 1,306,476 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 12 21,754 636.10 660.00 646.50 112A 3 Rib, ribeye, bnls, light 11 12,437 706.74 745.00 733.36 112A 3 Rib, ribeye, bnls, heavy 30 122,806 704.00 747.00 730.71 113C 1 Chuck, semi-bnls, neck/off 8 23,028 195.00 204.50 197.63 114 1 Chuck, shoulder clod 24 216,475 188.00 207.00 196.30 114A 3 Chuck, shoulder clod, trmd 37 179,612 195.29 217.00 202.68 114D 3 Chuck, clod, top blade 16 26,271 281.23 302.00 295.65 114E 3 Chuck, clod, arm roast 12 126,532 213.40 251.50 224.91 114F 5 Chuck, clod tender (IM) 9 21,442 345.00 383.00 348.57 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 41 264,659 206.55 224.00 211.79 116B 1 Chuck, chuck tender (IM) 25 41,833 210.00 221.00 215.33

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 26 48,080 211.73 230.00 221.48 120A 3 Brisket, point/off, bnls 19 19,812 308.58 345.00 325.79 123A 3 Short Plate, short rib 9 22,135 314.60 355.00 343.28 130 4 Chuck, short rib 26 71,255 181.00 221.00 192.44 160 1 Round, bone-in 3 4,736 190.00 194.00 191.20 161 1 Round, boneless 6 2,679 196.50 209.65 204.22

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 75 874,898 202.20 222.00 204.95 168 1 Round, top inside round 31 176,624 193.00 206.00 198.78 168 3 Round, top inside round 24 186,607 203.50 215.00 209.07 169 5 Round, top inside, denuded 17 29,576 240.00 256.00 245.65

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 47 199,289 184.63 205.00 191.61 171C 3 Round, eye of round (IM) 47 115,022 201.26 220.45 208.78 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 17 31,542 649.13 703.50 660.40 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 8,205 675.75 716.00 692.19 180 3 Loin, strip, bnls, 0x1 30 92,759 761.00 832.00 789.23 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 20 59,677 358.58 380.00 365.62 185A 4 Loin, bottom sirloin, flap 29 95,102 430.00 486.50 458.15 185B 1 Loin, ball-tip, bnls, heavy 18 44,640 225.00 252.55 235.17 185C 1 Loin, sirloin, tri-tip (IM) 11 23,746 364.49 375.34 368.81 185D 4 Loin, tri-tip, pld (IM) 9 15,249 481.00 517.00 492.58 189A 4 Loin, tndrloin, trmd, heavy 29 32,912 967.00 1003.65 986.12 191A 4 Loin, butt tender, trimmed 9 5,435 899.13 980.00 904.12 193 4 Flank, flank steak (IM) 14 10,251 453.00 480.60 466.75 ------------------------------------------------------------------------------- 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 17 48,189 501.60 550.00 530.14 112A 3 Rib, ribeye, bnls, light 9 28,418 592.00 607.00 596.55 112A 3 Rib, ribeye, bnls, heavy 30 46,801 569.64 607.65 585.01 113C 1 Chuck, semi-bnls, neck/off 8 20,035 194.33 202.10 200.70 114 1 Chuck, shoulder clod 13 95,777 185.00 201.65 191.79 114A 3 Chuck, shoulder clod, trmd 21 48,477 198.00 215.50 205.04 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 12,411 314.25 355.68 318.24 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 45 485,812 201.63 225.50 210.08 116B 1 Chuck, chuck tender (IM) 18 49,873 205.00 220.50 210.77

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 15 31,040 209.68 231.00 220.50 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 13,228 220.00 355.00 298.17 130 4 Chuck, short rib 7 16,945 187.00 223.50 192.29 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 28 158,884 203.00 218.25 206.42 168 1 Round, top inside round 32 240,921 193.00 208.80 200.11 168 3 Round, top inside round 10 53,750 199.10 213.00 203.04 169 5 Round, top inside, denuded 7 3,487 237.00 250.25 242.81

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 46,615 186.00 200.00 188.26 171B 3 Round, outside round 29 146,816 186.37 200.00 190.95 171C 3 Round, eye of round (IM) 23 172,807 199.30 222.00 204.94 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 16 33,923 523.81 560.00 549.98 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 13 18,119 520.00 573.75 537.80 184 1 Loin, top butt, bnls, heavy 12 80,706 270.00 279.50 273.37 184 3 Loin, top butt, boneless 23 185,574 267.00 301.50 272.97 185A 4 Loin, bottom sirloin, flap 15 127,027 415.00 485.25 427.64 185B 1 Loin, ball-tip, bnls, heavy 24 58,479 219.05 240.50 227.90 185C 1 Loin, sirloin, tri-tip (IM) 11 31,624 310.00 341.00 324.33 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 19 55,025 870.00 970.50 896.86 191A 4 Loin, butt tender, trimmed 6 2,726 907.00 932.00 923.60 193 4 Flank, flank steak (IM) 14 42,283 398.45 439.65 414.40 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 31 356,433 99.40 123.00 101.49 121D 4 Plate, Inside Skirt (IM) 34 114,732 355.00 380.00 361.90 121C 4 Plate, Outside Skirt (IM) 21 39,766 532.50 580.00 564.13 121E 6 Outside Skirt, pld (IM) 13 24,275 727.60 816.00 743.98

Cap, Wedge Meat & (IM) Lean 51 263,515 224.00 250.00 232.45

Pectoral Meat 24 36,461 227.00 257.00 237.66 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 21 238,705 143.40 177.00 147.89 Ground Beef 75% Ground Beef 81% 36 334,399 155.00 215.00 179.43 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 12 32,657 242.50 275.50 250.96 Ground Beef Chuck 80% 13 162,961 163.00 195.16 179.36 Ground Beef Round 85% 4 15,309 207.00 217.00 208.83 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% 9 117,626 190.75 209.99 200.00 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 35 1,128,485 45.00 57.00 51.27 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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