USDA Boxed Beef Cutout Closing Prices for September 14

September 14 (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: 191.54 180.68 Change from prior day: 0.14 0.73 ------------------------------------------------------------------------------- Choice/Select spread: 10.86

Total Load Count (Cuts, Trimmings, Grids): 155 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 289.13 248.37 Primal Chuck 160.95 158.86 Primal Round 171.26 168.64 Primal Loin 250.10 226.11 Primal Brisket 137.81 135.86 Primal Short Plate 129.13 133.98 Primal Flank 111.54 105.14 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/13 90 104 13 34 241 191.40 179.95 09/12 81 89 8 57 236 191.71 179.70 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.34 180.25 -------------------------------------------------------------------------------- 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 59.01 loads 2,360,522 pounds Select Cuts 53.09 loads 2,123,753 pounds Trimmings 21.27 loads 850,674 pounds Ground Beef 21.92 load 876,965 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 25 52,531 590.00 642.00 605.79 112A 3 Rib, ribeye, bnls, light 6 5,910 699.14 735.00 708.69 112A 3 Rib, ribeye, bnls, heavy 33 85,024 655.00 735.00 672.38 113C 1 Chuck, semi-bnls, neck/off 3 41,942 177.00 208.50 178.06 114 1 Chuck, shoulder clod 6 32,233 206.00 223.00 215.37 114A 3 Chuck, shoulder clod, trmd 23 77,875 217.50 236.00 226.73 114D 3 Chuck, clod, top blade 5 3,879 270.00 301.00 279.48 114E 3 Chuck, clod, arm roast 11 13,699 229.65 310.00 251.28 114F 5 Chuck, clod tender (IM) 10 10,578 335.00 403.00 345.67 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 23 93,557 254.00 290.00 268.27 116B 1 Chuck, chuck tender (IM) 17 24,249 241.00 275.50 253.43

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 25 78,874 208.00 230.00 216.84 120A 3 Brisket, point/off, bnls 9 18,646 354.86 377.00 359.79 123A 3 Short Plate, short rib 12 12,054 269.00 350.00 324.82 130 4 Chuck, short rib 24 43,107 170.53 228.58 202.38 160 1 Round, bone-in 5 6,454 200.00 212.00 206.68 161 1 Round, boneless 7 20,750 210.00 231.00 218.75

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 33 77,545 235.00 251.65 242.88 168 1 Round, top inside round 31 144,539 203.00 224.61 210.63 168 3 Round, top inside round 23 123,143 209.50 236.50 218.44 169 5 Round, top inside, denuded 19 59,043 251.00 268.50 259.41

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 8,394 208.00 225.99 213.02 171B 3 Round, outside round 32 130,734 217.00 241.50 225.57 171C 3 Round, eye of round (IM) 35 65,915 242.00 272.50 263.15 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 19 87,735 499.60 520.00 508.44 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 10 18,795 425.00 461.50 429.66 180 3 Loin, strip, bnls, 0x1 30 112,915 472.00 531.00 493.11 184 1 Loin, top butt, bnls, heavy 7 3,978 278.50 309.00 289.28 184 3 Loin, top butt, boneless 27 96,960 301.00 333.00 310.90 185A 4 Loin, bottom sirloin, flap 29 418,587 330.00 373.00 338.78 185B 1 Loin, ball-tip, bnls, heavy 16 41,315 231.50 245.00 235.15 185C 1 Loin, sirloin, tri-tip (IM) 8 33,291 245.00 277.89 248.94 185D 4 Loin, tri-tip, pld (IM) 9 38,038 360.00 401.50 362.58 189A 4 Loin, tndrloin, trmd, heavy 39 128,595 965.00 1097.00 986.26 191A 4 Loin, butt tender, trimmed 6 5,467 917.44 943.50 926.64 193 4 Flank, flank steak (IM) 17 14,905 475.00 535.00 498.62 ------------------------------------------------------------------------------- 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 10 26,236 474.65 517.00 492.04 112A 3 Rib, ribeye, bnls, light 6 14,137 564.14 600.00 574.86 112A 3 Rib, ribeye, bnls, heavy 33 185,317 533.79 594.77 550.30 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 5 33,100 204.03 218.00 214.96 114A 3 Chuck, shoulder clod, trmd 10 81,868 215.00 230.00 219.31 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 7 6,642 293.00 327.50 321.33 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 15 102,505 234.14 264.00 250.03 116B 1 Chuck, chuck tender (IM) 5 17,337 245.50 255.00 249.68

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 14 88,627 207.00 222.00 212.34 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 16,275 270.00 340.00 318.46 130 4 Chuck, short rib 11 39,504 185.00 221.00 197.62 160 1 Round, bone-in 161 1 Round, boneless 5 11,466 205.00 216.00 212.71

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 17 93,124 228.00 250.00 237.12 168 1 Round, top inside round 23 253,241 199.00 215.50 201.83 168 3 Round, top inside round 9 61,572 209.50 229.00 211.83 169 5 Round, top inside, denuded 7 18,019 244.70 260.00 246.28

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 2,307 204.68 225.61 212.67 171B 3 Round, outside round 21 63,483 210.00 237.80 225.84 171C 3 Round, eye of round (IM) 6 6,089 249.50 265.00 256.62 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 20 65,545 412.40 486.00 429.50 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 27 388,762 386.40 445.00 396.83 184 1 Loin, top butt, bnls, heavy 9 19,379 255.00 286.00 260.79 184 3 Loin, top butt, boneless 16 36,116 268.83 310.00 277.57 185A 4 Loin, bottom sirloin, flap 7 85,124 343.00 355.50 346.97 185B 1 Loin, ball-tip, bnls, heavy 13 50,990 211.00 235.00 228.26 185C 1 Loin, sirloin, tri-tip (IM) 4 21,434 260.00 270.00 264.06 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 15 128,397 896.86 940.00 907.78 191A 4 Loin, butt tender, trimmed 6 13,658 849.65 898.00 875.23 193 4 Flank, flank steak (IM) 5 6,888 460.00 496.00 468.13 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 8,938 103.00 119.66 105.31 121D 4 Plate, Inside Skirt (IM) 20 48,522 339.00 369.00 352.18 121C 4 Plate, Outside Skirt (IM) 9 17,392 520.00 600.00 542.66 121E 6 Outside Skirt, pld (IM) 4 4,819 769.00 825.98 774.78

Cap, Wedge Meat & (IM) Lean 29 117,971 250.00 279.75 254.52

Pectoral Meat 18 21,624 250.00 272.80 256.49 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 26 366,012 144.16 175.00 152.33 Ground Beef 75% 0 0 Ground Beef 81% 32 135,147 177.80 215.50 186.98 Ground Beef 85% Ground Beef 90% Ground Beef 93% 7 58,809 236.75 258.75 248.85 Ground Beef Chuck 80% 18 183,114 180.00 209.00 186.73 Ground Beef Round 85% 9 34,621 209.56 233.00 221.57 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 34,107 201.14 219.70 203.53 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 24 810,694 50.00 59.50 55.23 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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