USDA Boxed Beef Cutout Closing Prices for September 12

September 12 (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: 191.71 179.70 Change from prior day: 0.18 0.50 ------------------------------------------------------------------------------- Choice/Select spread: 12.00

Total Load Count (Cuts, Trimmings, Grids): 236 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 292.61 248.31 Primal Chuck 162.43 156.00 Primal Round 171.04 166.69 Primal Loin 249.20 228.68 Primal Brisket 135.17 135.32 Primal Short Plate 125.09 130.08 Primal Flank 111.25 107.34 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/11 75 78 21 29 202 191.53 179.20 09/10 47 55 12 37 151 191.32 180.68 09/07 62 90 26 30 208 190.73 181.70 09/06 92 86 7 23 209 191.56 181.86 09/05 102 97 6 50 255 191.14 181.83 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.26 181.05 -------------------------------------------------------------------------------- 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 81.17 loads 3,246,988 pounds Select Cuts 88.88 loads 3,555,363 pounds Trimmings 8.18 loads 327,009 pounds Ground Beef 57.36 load 2,294,426 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 35 37,762 593.00 641.00 610.92 112A 3 Rib, ribeye, bnls, light 15 29,021 680.00 730.00 705.09 112A 3 Rib, ribeye, bnls, heavy 119 151,315 649.21 707.00 673.49 113C 1 Chuck, semi-bnls, neck/off 4 1,974 205.00 210.00 208.40 114 1 Chuck, shoulder clod 12 28,249 198.00 211.89 205.93 114A 3 Chuck, shoulder clod, trmd 58 95,561 210.00 233.75 219.65 114D 3 Chuck, clod, top blade 8 10,344 270.00 340.00 281.10 114E 3 Chuck, clod, arm roast 8 16,118 226.31 295.00 256.11 114F 5 Chuck, clod tender (IM) 14 16,323 330.00 385.00 345.97 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 94 146,369 233.88 274.00 249.56 116B 1 Chuck, chuck tender (IM) 33 22,233 241.10 264.00 250.50

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 105 256,900 208.00 232.00 211.69 120A 3 Brisket, point/off, bnls 27 27,351 347.00 375.00 368.63 123A 3 Short Plate, short rib 39 45,597 280.00 366.00 321.80 130 4 Chuck, short rib 38 41,397 190.00 230.84 209.44 160 1 Round, bone-in 4 5,699 198.38 214.00 203.58 161 1 Round, boneless 4 1,508 213.00 225.00 218.26

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 100 164,309 229.00 253.75 238.05 168 1 Round, top inside round 87 148,880 204.00 215.00 209.42 168 3 Round, top inside round 38 303,772 210.00 232.21 220.51 169 5 Round, top inside, denuded 20 20,184 251.00 263.00 252.89

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 17,185 191.00 218.00 207.94 171B 3 Round, outside round 61 178,680 214.00 226.00 221.85 171C 3 Round, eye of round (IM) 55 58,928 240.00 275.00 255.26 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 30 56,056 473.00 521.50 488.45 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 18 22,525 435.00 472.00 440.88 180 3 Loin, strip, bnls, 0x1 77 142,901 475.00 544.00 495.89 184 1 Loin, top butt, bnls, heavy 22 14,355 300.00 320.00 305.08 184 3 Loin, top butt, boneless 74 185,846 295.00 337.60 306.31 185A 4 Loin, bottom sirloin, flap 68 200,005 350.00 422.00 361.01 185B 1 Loin, ball-tip, bnls, heavy 42 63,473 223.80 239.43 230.42 185C 1 Loin, sirloin, tri-tip (IM) 14 38,234 239.00 287.00 253.72 185D 4 Loin, tri-tip, pld (IM) 35 40,458 355.00 398.00 367.82 189A 4 Loin, tndrloin, trmd, heavy 60 115,917 940.00 1102.00 986.72 191A 4 Loin, butt tender, trimmed 6 6,126 925.60 950.00 932.13 193 4 Flank, flank steak (IM) 17 26,127 480.00 535.00 493.66 ------------------------------------------------------------------------------- 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 16 17,118 485.00 513.00 492.33 112A 3 Rib, ribeye, bnls, light 15 33,852 550.00 600.00 563.56 112A 3 Rib, ribeye, bnls, heavy 55 219,785 538.50 595.00 548.28 113C 1 Chuck, semi-bnls, neck/off 21 53,467 200.00 215.00 209.10 114 1 Chuck, shoulder clod 16 23,344 195.00 211.89 205.34 114A 3 Chuck, shoulder clod, trmd 29 103,575 207.40 227.00 217.34 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 14 13,984 284.00 325.00 300.77 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 50 531,253 225.00 254.00 238.10 116B 1 Chuck, chuck tender (IM) 13 29,165 239.75 245.00 241.82

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 25 117,201 207.00 225.00 210.39 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 18,987 265.00 293.00 267.87 130 4 Chuck, short rib 17 14,231 182.77 215.00 201.97 160 1 Round, bone-in 161 1 Round, boneless 12 9,567 185.00 219.98 213.21

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 24 143,647 224.00 245.00 231.09 168 1 Round, top inside round 31 161,770 194.69 215.00 198.28 168 3 Round, top inside round 28 238,193 210.00 222.00 212.85 169 5 Round, top inside, denuded 14 19,626 237.00 254.00 243.01

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 20,315 206.00 212.00 206.31 171B 3 Round, outside round 30 95,920 210.37 229.00 217.25 171C 3 Round, eye of round (IM) 20 45,783 234.00 266.50 247.81 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 29 29,979 449.95 500.00 468.80 175 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 37 100,928 400.00 449.98 411.88 184 1 Loin, top butt, bnls, heavy 14 14,992 256.00 275.00 262.89 184 3 Loin, top butt, boneless 43 186,500 260.00 294.00 271.91 185A 4 Loin, bottom sirloin, flap 18 227,178 332.00 400.00 336.40 185B 1 Loin, ball-tip, bnls, heavy 33 65,058 216.39 235.00 223.66 185C 1 Loin, sirloin, tri-tip (IM) 11 166,156 235.00 261.00 248.74 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 37 146,517 877.00 1041.00 893.84 191A 4 Loin, butt tender, trimmed 5 2,099 850.00 850.00 850.00 193 4 Flank, flank steak (IM) 12 12,925 438.00 495.00 471.88 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 11 20,769 97.61 130.00 113.01 121D 4 Plate, Inside Skirt (IM) 36 145,419 338.00 362.00 350.44 121C 4 Plate, Outside Skirt (IM) 24 68,043 513.00 626.00 523.30 121E 6 Outside Skirt, pld (IM) 8 4,350 768.00 877.00 801.82

Cap, Wedge Meat & (IM) Lean 78 474,844 242.21 275.00 246.37

Pectoral Meat 45 99,612 244.96 274.50 252.47 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 74 555,808 145.00 167.00 150.93 Ground Beef 75% Ground Beef 81% 100 482,098 177.00 211.65 198.23 Ground Beef 85% Ground Beef 90% Ground Beef 93% 40 107,303 240.00 249.50 246.45 Ground Beef Chuck 80% 60 364,035 186.00 211.00 198.18 Ground Beef Round 85% 52 143,448 218.39 230.00 225.72 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 81,780 202.60 216.30 205.85 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% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 12 320,509 50.00 60.14 55.70 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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