USDA Boxed Beef Cutout Closing Prices for July 5

July 5 (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: 193.57 175.84 Change from prior day: 0.35 (1.52) ------------------------------------------------------------------------------- Choice/Select spread: 17.73

Total Load Count (Cuts, Trimmings, Grids): 226 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 295.62 248.69 Primal Chuck 145.00 142.76 Primal Round 154.84 154.50 Primal Loin 299.11 243.73 Primal Brisket 135.58 135.77 Primal Short Plate 123.36 128.12 Primal Flank 106.67 97.69 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/03 106 90 28 54 277 193.22 177.36 07/02 82 62 11 30 186 194.63 177.61 06/29 76 60 6 26 168 194.66 178.09 06/28 75 54 16 18 163 196.12 180.33 06/27 81 69 22 44 216 197.93 180.32 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.31 178.74 -------------------------------------------------------------------------------- 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 100.01 loads 4,000,203 pounds Select Cuts 64.61 loads 2,584,442 pounds Trimmings 25.78 loads 1,031,129 pounds Ground Beef 35.70 load 1,428,102 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 45 75,857 582.00 656.00 616.79 112A 3 Rib, ribeye, bnls, light 9 18,569 681.50 716.00 696.86 112A 3 Rib, ribeye, bnls, heavy 102 90,117 671.50 737.00 712.68 113C 1 Chuck, semi-bnls, neck/off 10 41,330 183.00 200.00 184.91 114 1 Chuck, shoulder clod 16 153,399 175.00 191.62 180.60 114A 3 Chuck, shoulder clod, trmd 64 167,041 186.93 206.00 192.16 114D 3 Chuck, clod, top blade 9 5,641 286.25 331.35 297.59 114E 3 Chuck, clod, arm roast 12 15,251 215.00 248.00 235.09 114F 5 Chuck, clod tender (IM) 10 21,785 320.00 355.00 331.36 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 106 317,918 199.00 217.00 208.66 116B 1 Chuck, chuck tender (IM) 44 136,326 203.00 221.00 212.17

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 107 346,565 203.95 232.00 212.50 120A 3 Brisket, point/off, bnls 23 23,559 325.00 369.37 336.48 123A 3 Short Plate, short rib 46 80,585 225.00 373.50 280.37 130 4 Chuck, short rib 74 136,708 183.00 231.00 192.30 160 1 Round, bone-in 7 9,691 186.50 205.00 191.54 161 1 Round, boneless 6 4,515 199.80 208.33 202.47

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 96 191,061 205.00 227.75 212.49 168 1 Round, top inside round 62 154,872 188.16 204.50 193.41 168 3 Round, top inside round 35 377,477 199.10 225.00 202.49 169 5 Round, top inside, denuded 19 35,047 233.00 248.00 237.56

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 7,487 189.00 201.00 194.25 171B 3 Round, outside round 52 155,873 190.00 211.25 203.13 171C 3 Round, eye of round (IM) 61 162,100 204.00 222.60 208.21 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 37 132,526 603.00 690.00 647.94 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 17 10,674 660.00 701.00 678.06 180 3 Loin, strip, bnls, 0x1 40 48,192 680.00 796.00 740.59 184 1 Loin, top butt, bnls, heavy 35 10,065 343.70 364.00 354.55 184 3 Loin, top butt, boneless 38 29,360 340.00 374.00 358.80 185A 4 Loin, bottom sirloin, flap 54 54,302 463.00 496.00 475.16 185B 1 Loin, ball-tip, bnls, heavy 42 49,928 216.00 245.50 233.54 185C 1 Loin, sirloin, tri-tip (IM) 19 22,937 365.62 405.00 384.99 185D 4 Loin, tri-tip, pld (IM) 29 17,134 485.00 513.00 493.45 189A 4 Loin, tndrloin, trmd, heavy 72 172,472 900.00 1060.00 931.24 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 23 18,491 455.50 492.00 478.38 ------------------------------------------------------------------------------- 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 21 23,286 506.00 532.25 518.40 112A 3 Rib, ribeye, bnls, light 17 89,148 525.00 590.00 549.11 112A 3 Rib, ribeye, bnls, heavy 60 148,632 527.12 600.00 564.64 113C 1 Chuck, semi-bnls, neck/off 12 41,678 183.00 200.00 187.15 114 1 Chuck, shoulder clod 14 35,210 180.00 203.86 187.30 114A 3 Chuck, shoulder clod, trmd 22 96,219 186.00 202.00 193.93 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 10 14,532 310.00 330.00 317.04 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 47 224,535 199.01 211.00 203.30 116B 1 Chuck, chuck tender (IM) 21 89,539 203.00 220.00 208.07

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 96,569 208.00 226.00 214.06 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 21 19,162 220.00 326.00 257.99 130 4 Chuck, short rib 15 23,429 185.00 206.00 188.57 160 1 Round, bone-in 161 1 Round, boneless 6 6,863 190.00 210.00 200.12

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 19 57,598 203.24 223.49 208.47 168 1 Round, top inside round 23 92,390 188.16 211.86 194.04 168 3 Round, top inside round 17 101,260 199.00 211.16 203.65 169 5 Round, top inside, denuded 4 2,550 233.00 253.77 242.57

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 6,422 190.00 200.00 195.78 171B 3 Round, outside round 29 98,160 186.37 211.25 197.61 171C 3 Round, eye of round (IM) 28 78,548 198.21 221.25 207.34 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 25,963 500.25 545.50 512.66 175 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 39 128,736 480.00 531.25 493.58 184 1 Loin, top butt, bnls, heavy 24 148,753 240.00 261.34 246.25 184 3 Loin, top butt, boneless 38 96,991 263.00 293.00 267.23 185A 4 Loin, bottom sirloin, flap 12 107,471 415.38 485.50 439.06 185B 1 Loin, ball-tip, bnls, heavy 18 24,448 216.00 245.00 223.00 185C 1 Loin, sirloin, tri-tip (IM) 15 116,490 300.70 345.50 305.38 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 22 29,089 860.00 895.00 874.42 191A 4 Loin, butt tender, trimmed 5 2,283 830.00 901.00 851.55 193 4 Flank, flank steak (IM) 15 20,774 398.00 456.00 411.09 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 20 23,326 111.39 120.00 115.60 121D 4 Plate, Inside Skirt (IM) 44 78,562 357.00 383.00 362.46 121C 4 Plate, Outside Skirt (IM) 22 30,178 500.00 576.00 543.98 121E 6 Outside Skirt, pld (IM) 9 15,339 700.00 812.00 728.42

Cap, Wedge Meat & (IM) Lean 68 851,181 218.00 256.00 222.35

Pectoral Meat 23 37,603 221.82 260.00 232.53 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 56 400,095 130.00 160.25 139.14 Ground Beef 75% Ground Beef 81% 53 237,983 162.00 188.83 172.96 Ground Beef 85% Ground Beef 90% Ground Beef 93% 23 66,651 230.00 264.00 238.09 Ground Beef Chuck 80% 33 214,734 170.00 194.00 175.50 Ground Beef Round 85% 18 47,915 200.00 216.00 207.29 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% 6 25,776 200.25 220.00 206.95 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 33 947,129 46.00 53.50 49.82 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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