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USDA Boxed Beef Cutout Closing Prices for August 22

August 22 (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: 193.73 184.86 Change from prior day: (0.09) (0.44) ------------------------------------------------------------------------------- Choice/Select spread: 8.87

Total Load Count (Cuts, Trimmings, Grids): 234 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 291.08 256.97 Primal Chuck 159.25 157.37 Primal Round 169.38 168.26 Primal Loin 264.15 244.05 Primal Brisket 138.33 135.84 Primal Short Plate 127.00 131.28 Primal Flank 112.61 108.75 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/21 45 53 16 39 153 193.82 185.30 08/20 57 29 0 24 109 193.85 185.25 08/17 40 30 5 15 90 193.03 184.72 08/16 68 39 25 38 170 191.48 184.40 08/15 73 62 28 36 198 190.52 183.24 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 192.54 184.58 -------------------------------------------------------------------------------- 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 82.42 loads 3,296,640 pounds Select Cuts 71.11 loads 2,844,423 pounds Trimmings 38.54 loads 1,541,645 pounds Ground Beef 41.94 load 1,677,422 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 43 35,085 573.00 655.00 602.90 112A 3 Rib, ribeye, bnls, light 22 25,101 680.00 715.00 694.54 112A 3 Rib, ribeye, bnls, heavy 115 94,397 650.00 700.15 681.61 113C 1 Chuck, semi-bnls, neck/off 12 85,180 182.00 213.82 195.88 114 1 Chuck, shoulder clod 17 35,927 190.00 213.50 202.63 114A 3 Chuck, shoulder clod, trmd 56 64,610 210.00 225.00 216.87 114D 3 Chuck, clod, top blade 8 16,490 274.00 335.00 280.30 114E 3 Chuck, clod, arm roast 13 13,442 216.00 244.80 232.41 114F 5 Chuck, clod tender (IM) 15 11,851 319.00 385.75 342.34 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 112 310,010 215.00 247.50 226.19 116B 1 Chuck, chuck tender (IM) 33 29,524 229.86 250.00 236.48

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 100 217,425 205.00 225.00 214.34 120A 3 Brisket, point/off, bnls 16 10,821 330.00 375.00 359.23 123A 3 Short Plate, short rib 41 67,638 275.00 365.00 312.75 130 4 Chuck, short rib 51 83,834 180.00 230.00 192.19 160 1 Round, bone-in 5 5,318 200.00 206.43 202.58 161 1 Round, boneless 4 10,363 206.00 215.00 210.07

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 82 127,082 229.00 250.00 235.57 168 1 Round, top inside round 82 106,244 203.10 222.50 212.91 168 3 Round, top inside round 44 562,014 210.00 234.00 220.83 169 5 Round, top inside, denuded 25 33,423 229.30 266.00 253.95

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 2,154 200.00 218.28 211.62 171B 3 Round, outside round 64 438,665 198.00 225.00 210.28 171C 3 Round, eye of round (IM) 67 121,056 229.50 254.00 236.74 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 29 28,454 524.50 550.00 529.59 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 16 13,662 490.00 518.00 493.61 180 3 Loin, strip, bnls, 0x1 88 58,907 537.00 586.00 565.81 184 1 Loin, top butt, bnls, heavy 33 28,223 288.00 334.50 312.32 184 3 Loin, top butt, boneless 60 192,691 302.26 350.00 316.08 185A 4 Loin, bottom sirloin, flap 48 86,414 409.00 443.75 427.82 185B 1 Loin, ball-tip, bnls, heavy 42 58,140 217.00 235.92 220.67 185C 1 Loin, sirloin, tri-tip (IM) 17 25,941 300.00 325.00 305.68 185D 4 Loin, tri-tip, pld (IM) 23 34,667 400.00 453.00 412.23 189A 4 Loin, tndrloin, trmd, heavy 65 55,578 975.00 1009.00 994.94 191A 4 Loin, butt tender, trimmed 3 3,867 900.00 915.00 911.54 193 4 Flank, flank steak (IM) 10 8,762 506.00 535.00 529.95 ------------------------------------------------------------------------------- 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 20 29,919 508.00 535.00 526.01 112A 3 Rib, ribeye, bnls, light 20 51,125 553.00 600.00 573.14 112A 3 Rib, ribeye, bnls, heavy 61 170,776 539.00 595.00 580.61 113C 1 Chuck, semi-bnls, neck/off 16 19,349 204.00 215.00 208.74 114 1 Chuck, shoulder clod 16 66,079 199.50 211.98 203.45 114A 3 Chuck, shoulder clod, trmd 22 125,838 207.00 220.98 214.08 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 17 16,383 315.00 334.17 324.88 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 38 294,454 215.00 239.50 223.96 116B 1 Chuck, chuck tender (IM) 17 33,486 226.00 241.00 233.09

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 25 112,316 208.00 221.00 209.83 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 1,468 260.00 325.75 302.83 130 4 Chuck, short rib 17 33,621 180.00 195.00 188.38 160 1 Round, bone-in 161 1 Round, boneless 8 10,696 209.00 224.50 211.73

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 27 47,235 220.30 240.50 235.66 168 1 Round, top inside round 15 26,932 210.00 215.00 211.49 168 3 Round, top inside round 19 56,143 215.00 225.98 217.31 169 5 Round, top inside, denuded 11 13,218 250.37 260.00 251.59

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 34 238,460 198.00 226.00 210.27 171C 3 Round, eye of round (IM) 32 79,383 224.00 245.00 233.05 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 37 73,313 490.00 527.28 497.21 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 32 49,117 488.66 581.00 520.41 184 1 Loin, top butt, bnls, heavy 28 35,220 253.00 295.54 274.77 184 3 Loin, top butt, boneless 51 243,954 280.00 305.00 286.18 185A 4 Loin, bottom sirloin, flap 10 21,815 395.87 446.58 413.89 185B 1 Loin, ball-tip, bnls, heavy 27 83,608 211.00 241.00 218.20 185C 1 Loin, sirloin, tri-tip (IM) 16 77,579 270.00 312.00 273.07 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 39 58,493 905.00 1006.00 934.87 191A 4 Loin, butt tender, trimmed 4 3,006 850.00 850.00 850.00 193 4 Flank, flank steak (IM) 14 29,501 442.70 485.00 476.43 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 15 40,147 107.84 126.00 117.18 121D 4 Plate, Inside Skirt (IM) 34 93,455 346.00 381.30 358.03 121C 4 Plate, Outside Skirt (IM) 14 22,893 526.00 580.00 563.72 121E 6 Outside Skirt, pld (IM) 9 3,824 790.00 845.00 809.41

Cap, Wedge Meat & (IM) Lean 55 126,930 235.00 269.80 253.04

Pectoral Meat 43 72,141 249.00 274.50 257.54 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 71 313,440 140.03 179.89 164.96 Ground Beef 75% Ground Beef 81% 105 567,116 185.00 226.00 209.70 Ground Beef 85% Ground Beef 90% Ground Beef 93% 35 95,600 229.37 260.28 246.57 Ground Beef Chuck 80% 45 234,245 190.00 236.00 213.85 Ground Beef Round 85% 50 144,198 220.00 232.00 228.50 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 33,626 191.34 217.30 211.29 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 50 1,373,645 47.50 70.00 57.62 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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