USDA Boxed Beef Cutout Midday Prices for July 17

July 17 (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: 184.09 173.84 Change from prior day: 0.25 1.65 ------------------------------------------------------------------------------- Choice/Select spread: 10.25

Total Load Count (Cuts, Trimmings, Grids): 107 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 274.79 241.77 Primal Chuck 140.98 141.06 Primal Round 157.89 158.78 Primal Loin 269.18 237.06 Primal Brisket 130.48 131.82 Primal Short Plate 123.36 128.40 Primal Flank 105.89 94.92 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/16 80 48 22 42 192 183.84 172.19 07/13 88 63 6 18 174 183.94 172.57 07/12 126 53 31 38 248 186.03 173.42 07/11 95 74 22 40 232 187.81 173.66 07/10 95 74 27 36 233 188.35 174.34 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 186.00 173.24 -------------------------------------------------------------------------------- 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 41.49 loads 1,659,788 pounds Select Cuts 29.68 loads 1,187,341 pounds Trimmings 18.46 loads 738,430 pounds Ground Beef 17.66 load 706,374 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 10 54,724 533.26 585.00 551.55 112A 3 Rib, ribeye, bnls, light 6 41,591 608.00 626.39 614.97 112A 3 Rib, ribeye, bnls, heavy 40 47,805 608.00 693.60 652.19 113C 1 Chuck, semi-bnls, neck/off 11 89,125 189.00 198.00 191.61 114 1 Chuck, shoulder clod 23 90,368 176.80 189.00 182.22 114A 3 Chuck, shoulder clod, trmd 22 91,417 164.00 224.00 190.15 114D 3 Chuck, clod, top blade 5 42,582 269.00 300.00 270.13 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 11 12,277 311.50 360.25 325.58 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 34 87,740 204.00 240.00 214.06 116B 1 Chuck, chuck tender (IM) 15 23,822 207.00 220.00 210.83

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 22 117,280 205.00 227.00 209.18 120A 3 Brisket, point/off, bnls 10 2,395 320.00 389.00 350.24 123A 3 Short Plate, short rib 12 28,607 250.00 348.00 332.15 130 4 Chuck, short rib 19 27,411 188.00 247.00 193.88 160 1 Round, bone-in 6 16,214 189.00 216.50 209.48 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 29 65,104 210.00 239.00 217.01 168 1 Round, top inside round 21 103,491 194.86 212.50 195.92 168 3 Round, top inside round 15 229,603 202.00 220.50 206.16 169 5 Round, top inside, denuded 7 3,847 230.00 246.00 236.88

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 24 68,154 206.00 235.00 214.51 171C 3 Round, eye of round (IM) 26 40,083 207.00 236.00 217.13 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 13 20,536 515.61 610.00 524.32 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 4 2,167 602.00 659.00 625.02 180 3 Loin, strip, bnls, 0x1 20 18,591 582.00 686.00 602.51 184 1 Loin, top butt, bnls, heavy 7 7,208 305.00 334.50 326.86 184 3 Loin, top butt, boneless 4 5,251 316.00 345.00 320.47 185A 4 Loin, bottom sirloin, flap 16 27,937 445.00 481.00 472.42 185B 1 Loin, ball-tip, bnls, heavy 7 26,362 218.00 247.00 230.58 185C 1 Loin, sirloin, tri-tip (IM) 5 9,713 365.00 369.00 367.61 185D 4 Loin, tri-tip, pld (IM) 6 1,437 501.00 532.82 507.03 189A 4 Loin, tndrloin, trmd, heavy 13 19,130 891.25 936.50 913.96 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 17 9,653 470.00 486.50 480.03 ------------------------------------------------------------------------------- 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 12 26,818 452.26 504.00 462.17 112A 3 Rib, ribeye, bnls, light 3 4,254 545.00 554.00 546.73 112A 3 Rib, ribeye, bnls, heavy 30 50,090 526.60 564.00 537.45 113C 1 Chuck, semi-bnls, neck/off 10 22,613 184.00 200.50 192.92 114 1 Chuck, shoulder clod 6 38,312 174.50 198.50 179.90 114A 3 Chuck, shoulder clod, trmd 14 80,566 182.00 204.00 188.86 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 2,131 308.00 365.28 335.19 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 20 70,318 200.00 225.50 213.92 116B 1 Chuck, chuck tender (IM) 10 21,433 208.00 216.00 210.19

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 16 51,385 202.00 223.76 208.23 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 7 9,160 252.00 351.00 271.99 130 4 Chuck, short rib 10 23,530 182.00 220.00 194.30 160 1 Round, bone-in 161 1 Round, boneless 5 8,546 206.75 237.00 224.93

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 15 58,713 209.00 225.20 216.99 168 1 Round, top inside round 12 40,049 193.00 209.00 200.45 168 3 Round, top inside round 8 13,658 204.50 216.00 208.02 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 23,178 192.00 196.00 194.01 171B 3 Round, outside round 13 33,141 205.46 222.00 215.51 171C 3 Round, eye of round (IM) 10 41,980 210.00 226.00 212.85 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 11 10,813 489.00 518.00 497.55 175 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 24 19,518 463.26 510.30 478.82 184 1 Loin, top butt, bnls, heavy 17 163,868 235.00 267.00 243.22 184 3 Loin, top butt, boneless 14 122,811 245.00 270.00 250.93 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 10 71,871 213.00 230.00 215.87 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 26 22,518 845.00 872.50 856.37 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 18,611 400.00 430.28 404.41 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 3 1,392 112.95 120.00 116.20 121D 4 Plate, Inside Skirt (IM) 20 27,197 355.00 380.00 361.65 121C 4 Plate, Outside Skirt (IM) 9 40,983 519.00 569.00 535.01 121E 6 Outside Skirt, pld (IM) 5 4,707 740.50 825.70 782.09

Cap, Wedge Meat & (IM) Lean 24 76,826 227.00 252.00 234.77

Pectoral Meat 17 145,942 215.00 239.50 222.05 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 11 69,749 128.00 148.00 135.27 Ground Beef 75% Ground Beef 81% 23 195,747 150.00 185.50 164.18 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 12 88,433 220.70 260.50 235.80 Ground Beef Chuck 80% 8 159,934 162.24 184.00 172.73 Ground Beef Round 85% 4 40,998 201.00 213.00 201.20 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% Blended Ground Beef 81% 4 38,638 187.00 196.00 195.32 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% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 14 316,680 44.50 52.00 47.74 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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