USDA Boxed Beef Cutout Midday Prices for September 7

September 7 (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: 190.91 181.99 Change from prior day: (0.65) 0.13 ------------------------------------------------------------------------------- Choice/Select spread: 8.93

Total Load Count (Cuts, Trimmings, Grids): 128 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 292.49 256.20 Primal Chuck 160.46 157.72 Primal Round 169.44 165.97 Primal Loin 248.79 233.49 Primal Brisket 138.00 134.12 Primal Short Plate 126.33 130.53 Primal Flank 111.81 108.87 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/06 92 86 7 23 209 191.56 181.86 09/05 102 97 6 50 255 191.14 181.83 09/04 64 61 18 33 176 190.45 180.69 08/31 65 42 14 25 146 189.62 179.46 08/30 80 58 7 12 157 190.83 180.03 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.72 180.77 -------------------------------------------------------------------------------- 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 37.07 loads 1,482,886 pounds Select Cuts 52.74 loads 2,109,747 pounds Trimmings 16.26 loads 650,216 pounds Ground Beef 21.63 load 865,274 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 20 95,824 545.00 616.67 574.78 112A 3 Rib, ribeye, bnls, light 4 8,420 695.00 715.00 705.30 112A 3 Rib, ribeye, bnls, heavy 32 67,227 664.00 712.00 674.72 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 7 21,372 200.94 210.00 204.60 114A 3 Chuck, shoulder clod, trmd 14 28,334 210.79 225.00 218.59 114D 3 Chuck, clod, top blade 3 3,196 275.00 280.00 276.43 114E 3 Chuck, clod, arm roast 5 46,050 218.00 256.25 237.88 114F 5 Chuck, clod tender (IM) 6 5,515 330.00 370.00 335.88 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 19 32,556 224.49 256.00 239.64 116B 1 Chuck, chuck tender (IM) 9 12,319 235.00 250.00 239.96

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 22 59,666 201.65 227.82 210.23 120A 3 Brisket, point/off, bnls 6 2,755 323.45 375.00 358.27 123A 3 Short Plate, short rib 3 3,330 324.85 338.00 326.20 130 4 Chuck, short rib 20 34,337 172.63 237.00 197.43 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 25 57,272 225.49 246.50 233.44 168 1 Round, top inside round 14 25,114 205.00 215.00 211.59 168 3 Round, top inside round 11 60,483 219.20 230.00 224.04 169 5 Round, top inside, denuded 14 64,075 248.50 262.00 251.08

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 2,904 185.63 218.00 204.16 171B 3 Round, outside round 13 35,441 206.73 224.00 216.54 171C 3 Round, eye of round (IM) 19 27,100 245.00 266.00 253.13 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 208,256 470.00 502.50 496.28 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 9 9,720 440.00 469.50 442.88 180 3 Loin, strip, bnls, 0x1 18 64,186 480.00 529.50 501.10 184 1 Loin, top butt, bnls, heavy 9 6,089 300.00 320.00 303.14 184 3 Loin, top butt, boneless 21 163,467 299.30 326.00 308.30 185A 4 Loin, bottom sirloin, flap 15 88,208 350.00 406.00 361.75 185B 1 Loin, ball-tip, bnls, heavy 7 10,372 225.92 235.00 230.96 185C 1 Loin, sirloin, tri-tip (IM) 5 24,346 279.92 295.50 280.96 185D 4 Loin, tri-tip, pld (IM) 5 5,796 375.00 420.67 377.72 189A 4 Loin, tndrloin, trmd, heavy 31 67,147 949.00 1066.50 971.99 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 13 15,258 457.64 515.76 475.75 ------------------------------------------------------------------------------- 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 6 8,193 500.00 535.00 518.36 112A 3 Rib, ribeye, bnls, light 5 4,564 542.00 601.00 576.44 112A 3 Rib, ribeye, bnls, heavy 21 57,110 535.63 595.00 552.53 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 4 55,299 201.27 208.00 201.56 114A 3 Chuck, shoulder clod, trmd 7 32,849 202.08 222.00 212.62 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 9 56,800 250.00 320.00 259.83 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 266,952 221.62 240.61 230.04 116B 1 Chuck, chuck tender (IM) 3 2,407 240.00 265.00 255.74

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 9 39,223 195.00 221.00 200.92 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 8,149 267.13 310.00 290.53 130 4 Chuck, short rib 5 10,943 184.20 216.00 197.75 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 6 51,659 219.00 233.63 229.24 168 1 Round, top inside round 5 33,229 199.30 209.06 202.18 168 3 Round, top inside round 5 7,854 209.00 219.00 214.68 169 5 Round, top inside, denuded 3 3,567 226.62 250.00 229.16

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 8 39,061 206.59 221.00 215.23 171C 3 Round, eye of round (IM) 6 11,441 236.00 260.00 243.69 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 5 2,681 458.00 480.00 464.23 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 9 64,214 399.00 464.00 407.72 184 1 Loin, top butt, bnls, heavy 32 875,065 235.88 270.00 243.53 184 3 Loin, top butt, boneless 9 35,845 274.00 307.00 281.02 185A 4 Loin, bottom sirloin, flap 5 84,004 350.00 370.00 350.44 185B 1 Loin, ball-tip, bnls, heavy 11 61,986 215.00 237.00 225.96 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 8 34,597 890.00 930.00 902.16 191A 4 Loin, butt tender, trimmed 5 6,858 848.50 850.00 849.88 193 4 Flank, flank steak (IM) 3 1,738 466.00 490.00 476.38 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 18,240 105.00 120.00 108.16 121D 4 Plate, Inside Skirt (IM) 11 16,995 342.00 364.39 350.58 121C 4 Plate, Outside Skirt (IM) 13 31,408 504.17 586.50 521.40 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 15 53,445 247.00 265.00 251.52

Pectoral Meat 13 61,323 240.00 264.00 248.29 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 12 251,643 142.01 155.20 146.45 Ground Beef 75% 0 0 Ground Beef 81% 21 104,494 195.00 211.00 202.06 Ground Beef 85% Ground Beef 90% Ground Beef 93% 6 6,593 247.50 253.50 251.55 Ground Beef Chuck 80% 6 47,814 200.00 217.94 210.69 Ground Beef Round 85% 8 11,744 211.00 228.13 224.17 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% 7 174,376 175.77 212.06 181.31 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 21 650,216 59.00 61.00 60.10 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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