USDA Boxed Beef Cutout Closing Prices for August 17

August 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 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: 193.03 184.72 Change from prior day: 1.55 0.32 ------------------------------------------------------------------------------- Choice/Select spread: 8.31

Total Load Count (Cuts, Trimmings, Grids): 90 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 284.64 257.30 Primal Chuck 161.40 159.11 Primal Round 167.65 166.32 Primal Loin 265.38 244.99 Primal Brisket 135.07 133.37 Primal Short Plate 123.82 128.91 Primal Flank 110.24 104.11 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/16 68 39 25 38 170 191.48 184.40 08/15 73 62 28 36 198 190.52 183.24 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 188.61 181.31 -------------------------------------------------------------------------------- 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 39.53 loads 1,581,317 pounds Select Cuts 29.91 loads 1,196,540 pounds Trimmings 4.94 loads 197,488 pounds Ground Beef 15.49 load 619,441 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 8 58,708 569.44 616.00 581.36 112A 3 Rib, ribeye, bnls, light 8 11,349 639.00 696.00 674.83 112A 3 Rib, ribeye, bnls, heavy 24 27,569 611.00 686.00 648.88 113C 1 Chuck, semi-bnls, neck/off 5 2,926 206.00 215.00 209.31 114 1 Chuck, shoulder clod 8 25,761 191.00 215.61 205.24 114A 3 Chuck, shoulder clod, trmd 22 86,344 213.00 224.00 215.27 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 5 3,408 216.50 255.00 236.65 114F 5 Chuck, clod tender (IM) 12 17,589 320.00 387.53 333.81 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 106,106 220.00 246.00 232.04 116B 1 Chuck, chuck tender (IM) 12 11,044 225.00 238.75 232.63

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 39 222,455 200.00 225.00 210.95 120A 3 Brisket, point/off, bnls 5 7,017 328.76 365.00 338.84 123A 3 Short Plate, short rib 11 39,319 270.00 366.00 301.85 130 4 Chuck, short rib 20 31,940 190.00 230.00 196.75 160 1 Round, bone-in 3 2,113 202.00 218.00 207.42 161 1 Round, boneless 5 15,705 210.00 222.00 212.95

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 28 50,448 232.00 245.00 236.83 168 1 Round, top inside round 27 62,724 200.60 223.98 211.73 168 3 Round, top inside round 16 73,447 210.00 230.00 219.26 169 5 Round, top inside, denuded 6 57,511 248.00 265.00 261.18

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 8,896 194.50 218.00 204.61 171B 3 Round, outside round 24 118,967 209.80 226.00 213.40 171C 3 Round, eye of round (IM) 20 21,819 222.00 245.00 234.08 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 7 13,897 508.95 558.00 533.86 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 6,791 495.00 507.00 496.62 180 3 Loin, strip, bnls, 0x1 20 42,397 545.00 580.00 562.62 184 1 Loin, top butt, bnls, heavy 10 9,625 310.00 330.00 319.61 184 3 Loin, top butt, boneless 21 53,213 325.00 352.00 331.46 185A 4 Loin, bottom sirloin, flap 27 81,775 400.00 445.00 416.81 185B 1 Loin, ball-tip, bnls, heavy 16 46,827 213.00 228.00 218.20 185C 1 Loin, sirloin, tri-tip (IM) 10 12,413 305.00 326.00 316.29 185D 4 Loin, tri-tip, pld (IM) 11 8,056 414.00 452.00 428.78 189A 4 Loin, tndrloin, trmd, heavy 12 24,338 959.14 1021.00 1002.00 191A 4 Loin, butt tender, trimmed 5 9,263 900.00 933.00 913.89 193 4 Flank, flank steak (IM) 11 12,345 479.00 532.00 499.50 ------------------------------------------------------------------------------- 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 8 4,453 505.39 538.25 525.30 112A 3 Rib, ribeye, bnls, light 6 5,139 570.00 593.00 583.20 112A 3 Rib, ribeye, bnls, heavy 22 25,874 569.50 590.00 579.38 113C 1 Chuck, semi-bnls, neck/off 3 2,950 196.50 207.00 202.14 114 1 Chuck, shoulder clod 6 10,801 188.00 207.00 200.84 114A 3 Chuck, shoulder clod, trmd 17 73,901 211.48 223.98 213.74 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 9 15,293 313.63 332.00 322.09 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 108,644 216.00 245.61 230.13 116B 1 Chuck, chuck tender (IM) 5 5,454 225.00 246.00 230.08

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 12 46,685 202.00 225.00 207.38 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 14,913 243.00 341.00 300.70 130 4 Chuck, short rib 7 14,218 193.00 237.00 196.72 160 1 Round, bone-in 0 0 161 1 Round, boneless 3 3,091 206.00 222.00 219.29

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 16 106,075 221.62 235.48 232.21 168 1 Round, top inside round 14 111,475 203.00 218.75 210.85 168 3 Round, top inside round 15 77,692 211.00 229.00 216.15 169 5 Round, top inside, denuded 7 28,371 253.50 264.65 260.60

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 2,447 194.50 218.00 200.47 171B 3 Round, outside round 16 98,807 203.00 220.00 212.16 171C 3 Round, eye of round (IM) 12 25,831 220.00 239.00 228.09 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 17,293 491.00 528.98 514.06 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 7 31,365 476.00 550.00 481.14 184 1 Loin, top butt, bnls, heavy 4 8,341 272.62 275.00 274.92 184 3 Loin, top butt, boneless 16 26,630 284.00 307.25 289.76 185A 4 Loin, bottom sirloin, flap 7 20,006 400.00 435.00 407.18 185B 1 Loin, ball-tip, bnls, heavy 19 112,470 205.00 231.00 213.57 185C 1 Loin, sirloin, tri-tip (IM) 3 1,185 253.00 280.00 274.71 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 13 17,104 874.00 930.00 902.12 191A 4 Loin, butt tender, trimmed 3 2,251 845.00 872.25 847.59 193 4 Flank, flank steak (IM) 5 4,529 462.50 487.61 477.80 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 28,222 87.09 120.00 105.66 121D 4 Plate, Inside Skirt (IM) 18 24,198 342.00 375.00 354.58 121C 4 Plate, Outside Skirt (IM) 13 20,121 508.05 561.00 539.77 121E 6 Outside Skirt, pld (IM) 6 30,896 725.00 840.00 736.17

Cap, Wedge Meat & (IM) Lean 25 81,000 232.75 271.00 251.48

Pectoral Meat 21 41,906 226.00 276.00 247.29 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 15 104,290 168.68 177.48 173.99 Ground Beef 75% Ground Beef 81% 23 158,135 185.00 225.98 193.59 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 3 15,565 219.63 263.75 227.96 Ground Beef Chuck 80% 5 7,042 206.78 224.00 210.76 Ground Beef Round 85% 4 5,836 219.48 226.00 222.64 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% 14 287,706 178.30 199.95 189.49 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 9 197,488 46.00 56.00 49.69 Frozen 50% lean trimmings 0 0 -------------------------------------------------------------------------------- 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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