USDA Boxed Beef Cutout Closing Prices for August 28

August 28 (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: 191.91 181.94 Change from prior day: (0.07) (0.23) ------------------------------------------------------------------------------- Choice/Select spread: 9.97

Total Load Count (Cuts, Trimmings, Grids): 135 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 293.58 257.64 Primal Chuck 159.48 155.26 Primal Round 167.03 163.44 Primal Loin 256.48 238.60 Primal Brisket 136.06 133.39 Primal Short Plate 127.86 132.02 Primal Flank 113.65 106.76 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/27 51 51 13 20 136 191.98 182.17 08/24 78 54 7 26 165 192.14 183.53 08/23 54 70 13 22 159 193.83 184.93 08/22 82 71 39 42 234 193.73 184.86 08/21 45 53 16 39 153 193.82 185.30 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.10 184.16 -------------------------------------------------------------------------------- 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 53.63 loads 2,145,168 pounds Select Cuts 55.66 loads 2,226,423 pounds Trimmings 4.76 loads 190,326 pounds Ground Beef 21.27 load 850,604 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 11 7,095 594.00 627.00 612.87 112A 3 Rib, ribeye, bnls, light 20 83,739 668.00 702.00 680.53 112A 3 Rib, ribeye, bnls, heavy 51 80,124 665.00 709.00 674.77 113C 1 Chuck, semi-bnls, neck/off 6 11,357 195.00 209.00 200.74 114 1 Chuck, shoulder clod 18 46,893 191.00 208.22 199.39 114A 3 Chuck, shoulder clod, trmd 17 76,351 205.00 222.00 209.17 114D 3 Chuck, clod, top blade 8 12,117 253.00 293.75 276.04 114E 3 Chuck, clod, arm roast 17 55,103 224.63 265.00 235.25 114F 5 Chuck, clod tender (IM) 14 27,091 320.00 375.00 334.79 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 29 65,200 225.00 247.60 230.82 116B 1 Chuck, chuck tender (IM) 20 96,202 227.49 241.50 234.77

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 37 211,246 202.00 227.00 210.43 120A 3 Brisket, point/off, bnls 13 14,535 348.28 369.00 354.61 123A 3 Short Plate, short rib 21 46,437 274.00 366.00 315.80 130 4 Chuck, short rib 21 42,240 179.73 228.00 197.64 160 1 Round, bone-in 9 13,069 200.00 226.50 219.16 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 40 113,803 222.00 240.60 233.80 168 1 Round, top inside round 28 97,938 201.00 219.00 209.07 168 3 Round, top inside round 22 166,765 204.00 225.00 217.77 169 5 Round, top inside, denuded 11 11,017 240.17 261.00 255.07

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 1,647 206.00 218.28 209.43 171B 3 Round, outside round 37 101,251 202.00 225.00 211.32 171C 3 Round, eye of round (IM) 27 63,187 228.00 245.00 233.67 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 41,092 499.30 543.00 510.24 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 7 10,943 479.00 511.00 484.18 180 3 Loin, strip, bnls, 0x1 40 45,882 520.00 580.90 539.73 184 1 Loin, top butt, bnls, heavy 10 11,650 300.00 321.00 310.98 184 3 Loin, top butt, boneless 15 53,196 300.61 339.65 313.35 185A 4 Loin, bottom sirloin, flap 18 81,995 389.00 431.45 394.27 185B 1 Loin, ball-tip, bnls, heavy 9 14,876 225.00 234.22 227.85 185C 1 Loin, sirloin, tri-tip (IM) 3 4,242 305.00 316.00 309.61 185D 4 Loin, tri-tip, pld (IM) 9 7,145 400.00 436.00 412.57 189A 4 Loin, tndrloin, trmd, heavy 37 253,738 910.00 1056.00 938.37 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 19 16,042 498.75 531.00 512.53 ------------------------------------------------------------------------------- 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 22 88,911 508.00 536.87 511.92 112A 3 Rib, ribeye, bnls, light 7 6,014 575.00 615.00 596.07 112A 3 Rib, ribeye, bnls, heavy 41 118,068 550.00 598.00 561.88 113C 1 Chuck, semi-bnls, neck/off 17 35,089 195.00 216.00 210.02 114 1 Chuck, shoulder clod 4 4,629 202.25 208.80 203.87 114A 3 Chuck, shoulder clod, trmd 15 42,724 205.98 218.50 210.73 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 4,659 320.00 334.00 332.61 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 191,246 210.08 236.00 216.01 116B 1 Chuck, chuck tender (IM) 11 17,224 223.75 240.00 232.75

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 20 172,684 205.00 224.80 209.17 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 2,597 260.00 341.00 276.78 130 4 Chuck, short rib 8 31,874 190.34 198.26 194.49 160 1 Round, bone-in 161 1 Round, boneless 3 3,865 210.00 214.00 213.19

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 23 140,610 220.00 234.00 225.66 168 1 Round, top inside round 18 50,611 198.00 217.90 205.78 168 3 Round, top inside round 24 187,797 202.00 229.00 205.97 169 5 Round, top inside, denuded 3 6,132 247.00 252.00 249.73

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 1,986 195.00 219.98 205.70 171B 3 Round, outside round 25 228,454 203.07 219.00 207.53 171C 3 Round, eye of round (IM) 19 104,841 217.00 240.00 221.50 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 14 90,604 457.20 495.00 464.13 175 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 25 44,234 450.12 526.00 471.65 184 1 Loin, top butt, bnls, heavy 7 18,677 260.00 279.00 269.49 184 3 Loin, top butt, boneless 27 210,457 249.33 305.00 269.53 185A 4 Loin, bottom sirloin, flap 15 24,862 390.61 439.00 403.46 185B 1 Loin, ball-tip, bnls, heavy 12 6,480 210.00 235.00 223.08 185C 1 Loin, sirloin, tri-tip (IM) 8 49,973 270.00 294.00 274.52 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 26 48,379 883.50 999.00 910.69 191A 4 Loin, butt tender, trimmed 4 2,561 850.00 852.25 850.06 193 4 Flank, flank steak (IM) 16 20,652 453.00 490.00 465.29 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 9,187 109.00 126.00 124.29 121D 4 Plate, Inside Skirt (IM) 23 32,530 341.00 372.00 352.58 121C 4 Plate, Outside Skirt (IM) 11 22,576 524.00 580.00 538.52 121E 6 Outside Skirt, pld (IM) 9 14,318 762.80 804.00 788.50

Cap, Wedge Meat & (IM) Lean 25 104,659 240.00 265.00 250.46

Pectoral Meat 32 55,787 240.00 273.75 252.05 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 38 190,409 140.00 179.98 154.09 Ground Beef 75% 0 0 Ground Beef 81% 37 273,836 170.00 222.00 193.85 Ground Beef 85% Ground Beef 90% Ground Beef 93% 24 125,240 218.61 265.25 243.38 Ground Beef Chuck 80% 4 20,219 219.00 225.00 224.20 Ground Beef Round 85% 6 4,700 222.00 230.90 226.08 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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% 9 62,603 190.00 223.43 212.97 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 7 190,326 56.50 65.00 59.39 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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