USDA Boxed Beef Cutout Closing Prices for August 15

August 15 (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: 190.52 183.24 Change from prior day: 1.31 1.40 ------------------------------------------------------------------------------- Choice/Select spread: 7.28

Total Load Count (Cuts, Trimmings, Grids): 198 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 278.60 253.21 Primal Chuck 156.76 156.85 Primal Round 168.63 167.07 Primal Loin 262.46 242.80 Primal Brisket 133.85 132.05 Primal Short Plate 123.28 128.41 Primal Flank 111.34 105.48 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/14 55 49 18 30 151 189.21 181.84 08/13 60 43 12 20 135 186.89 179.42 08/10 69 59 40 15 182 184.95 177.65 08/09 76 63 16 34 189 182.52 176.63 08/08 111 81 35 48 275 181.42 175.35 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 185.00 178.18 -------------------------------------------------------------------------------- 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 72.91 loads 2,916,203 pounds Select Cuts 61.56 loads 2,462,273 pounds Trimmings 27.83 loads 1,113,042 pounds Ground Beef 36.03 load 1,441,077 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 28 23,452 544.50 603.00 575.12 112A 3 Rib, ribeye, bnls, light 19 16,048 644.00 694.50 663.71 112A 3 Rib, ribeye, bnls, heavy 124 120,668 611.00 686.25 654.98 113C 1 Chuck, semi-bnls, neck/off 9 73,887 182.00 206.00 191.57 114 1 Chuck, shoulder clod 22 34,150 190.00 210.04 202.11 114A 3 Chuck, shoulder clod, trmd 70 127,604 207.00 223.00 213.78 114D 3 Chuck, clod, top blade 11 15,238 276.50 299.00 285.62 114E 3 Chuck, clod, arm roast 13 42,873 225.00 257.00 232.95 114F 5 Chuck, clod tender (IM) 13 19,171 325.00 355.00 337.25 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 121 560,714 220.00 240.00 226.43 116B 1 Chuck, chuck tender (IM) 30 29,203 221.00 232.00 225.69

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 102 133,706 195.00 225.00 210.22 120A 3 Brisket, point/off, bnls 28 29,611 335.50 365.00 357.33 123A 3 Short Plate, short rib 51 70,667 275.00 367.00 318.39 130 4 Chuck, short rib 58 75,951 177.75 232.00 197.72 160 1 Round, bone-in 5 10,765 200.00 210.04 200.32 161 1 Round, boneless 3 1,692 190.00 215.99 214.77

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 97 100,420 229.00 244.00 233.79 168 1 Round, top inside round 89 114,531 200.00 223.50 211.45 168 3 Round, top inside round 20 79,255 212.37 236.41 217.45 169 5 Round, top inside, denuded 24 37,063 245.00 265.50 255.17

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 7,498 201.00 218.00 203.99 171B 3 Round, outside round 54 144,601 205.00 228.89 214.79 171C 3 Round, eye of round (IM) 69 97,005 228.00 244.40 234.31 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 36 58,073 500.00 547.00 519.11 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 28 23,251 480.00 518.00 495.58 180 3 Loin, strip, bnls, 0x1 103 108,686 530.00 577.00 557.27 184 1 Loin, top butt, bnls, heavy 21 12,433 310.00 325.00 318.32 184 3 Loin, top butt, boneless 57 89,219 320.00 345.00 329.90 185A 4 Loin, bottom sirloin, flap 60 186,031 415.00 441.00 424.64 185B 1 Loin, ball-tip, bnls, heavy 39 103,218 218.00 242.41 221.03 185C 1 Loin, sirloin, tri-tip (IM) 12 9,538 295.00 341.00 320.59 185D 4 Loin, tri-tip, pld (IM) 29 38,507 420.00 454.00 438.10 189A 4 Loin, tndrloin, trmd, heavy 76 64,547 926.00 1000.50 966.61 191A 4 Loin, butt tender, trimmed 4 2,219 900.00 934.65 916.19 193 4 Flank, flank steak (IM) 15 13,942 496.00 537.00 516.46 ------------------------------------------------------------------------------- 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 25 49,579 499.37 522.00 518.87 112A 3 Rib, ribeye, bnls, light 18 15,062 540.70 590.00 578.68 112A 3 Rib, ribeye, bnls, heavy 50 97,089 537.00 587.00 575.61 113C 1 Chuck, semi-bnls, neck/off 14 23,774 197.00 210.00 204.72 114 1 Chuck, shoulder clod 22 39,832 189.00 210.44 203.86 114A 3 Chuck, shoulder clod, trmd 21 115,516 205.00 223.00 213.25 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 10 6,140 312.00 355.00 321.23 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 165,340 221.77 236.25 228.67 116B 1 Chuck, chuck tender (IM) 22 31,563 210.18 231.25 222.80

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 34 267,411 200.80 220.41 205.91 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 11 24,742 260.00 320.00 274.39 130 4 Chuck, short rib 22 21,351 190.00 210.00 193.89 160 1 Round, bone-in 161 1 Round, boneless 11 17,246 200.00 231.00 211.84

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 16 63,528 229.22 237.30 233.14 168 1 Round, top inside round 17 21,255 189.00 214.25 210.92 168 3 Round, top inside round 22 63,121 207.00 226.00 218.95 169 5 Round, top inside, denuded 11 21,894 254.00 265.50 257.57

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 3,013 189.00 205.30 202.59 171B 3 Round, outside round 34 167,054 201.00 221.25 213.16 171C 3 Round, eye of round (IM) 29 66,961 224.00 240.00 229.35 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 33 57,029 479.84 530.00 504.02 175 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 41 57,253 485.43 551.25 515.23 184 1 Loin, top butt, bnls, heavy 23 26,810 262.00 289.00 276.87 184 3 Loin, top butt, boneless 40 224,278 279.95 300.50 283.60 185A 4 Loin, bottom sirloin, flap 10 42,761 400.00 435.00 405.19 185B 1 Loin, ball-tip, bnls, heavy 26 203,852 204.00 225.00 217.39 185C 1 Loin, sirloin, tri-tip (IM) 12 120,152 262.95 281.00 273.14 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 32 33,514 874.00 977.00 908.80 191A 4 Loin, butt tender, trimmed 5 3,135 810.00 850.00 842.55 193 4 Flank, flank steak (IM) 13 13,368 450.50 490.04 470.33 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 11 53,787 110.00 120.00 111.69 121D 4 Plate, Inside Skirt (IM) 33 136,174 349.50 373.00 353.94 121C 4 Plate, Outside Skirt (IM) 16 63,543 495.00 560.00 532.35 121E 6 Outside Skirt, pld (IM) 14 18,445 745.00 820.00 768.46

Cap, Wedge Meat & (IM) Lean 56 78,242 230.00 265.50 252.57

Pectoral Meat 42 87,411 243.00 266.00 258.39 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 71 407,021 147.00 176.00 163.13 Ground Beef 75% 0 0 Ground Beef 81% 93 491,229 172.00 217.41 199.18 Ground Beef 85% Ground Beef 90% Ground Beef 93% 27 77,662 233.26 271.89 245.81 Ground Beef Chuck 80% 31 60,379 196.51 209.00 205.14 Ground Beef Round 85% 40 203,526 213.00 225.97 222.63 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 43,426 182.60 225.30 198.68 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 33 901,782 43.19 56.00 48.38 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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