USDA Boxed Beef Cutout Midday 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 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: 191.44 180.79 Change from prior day: 0.04 0.84 ------------------------------------------------------------------------------- Choice/Select spread: 10.66

Total Load Count (Cuts, Trimmings, Grids): 101 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 288.09 248.29 Primal Chuck 162.23 159.24 Primal Round 171.10 168.62 Primal Loin 248.70 226.20 Primal Brisket 137.18 135.78 Primal Short Plate 129.07 133.93 Primal Flank 111.70 105.01 -------------------------------------------------------------------------------- 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 30.64 loads 1,225,569 pounds Select Cuts 36.38 loads 1,455,363 pounds Trimmings 20.52 loads 820,674 pounds Ground Beef 13.91 load 556,244 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 14 16,683 595.50 623.00 604.80 112A 3 Rib, ribeye, bnls, light 6 5,910 699.14 735.00 708.69 112A 3 Rib, ribeye, bnls, heavy 18 58,636 665.00 699.52 671.57 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 4 31,179 206.00 218.00 215.12 114A 3 Chuck, shoulder clod, trmd 14 37,555 217.50 235.50 222.80 114D 3 Chuck, clod, top blade 3 3,532 270.00 282.00 277.90 114E 3 Chuck, clod, arm roast 6 6,274 239.04 310.00 260.25 114F 5 Chuck, clod tender (IM) 5 1,602 335.00 383.00 362.26 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 11 58,953 258.00 290.00 273.52 116B 1 Chuck, chuck tender (IM) 14 17,926 241.00 270.00 253.53

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 16 34,034 210.00 230.00 212.82 120A 3 Brisket, point/off, bnls 6 9,131 360.00 377.00 362.81 123A 3 Short Plate, short rib 9 4,093 269.00 325.00 280.05 130 4 Chuck, short rib 16 32,865 185.00 226.98 199.52 160 1 Round, bone-in 4 6,094 200.00 209.66 206.37 161 1 Round, boneless 4 15,658 210.00 216.00 215.58

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 19 38,691 235.00 251.65 245.38 168 1 Round, top inside round 25 120,786 203.00 224.61 209.93 168 3 Round, top inside round 18 75,801 209.50 236.50 215.25 169 5 Round, top inside, denuded 8 8,587 251.00 268.50 257.94

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 8,224 208.00 214.50 212.75 171B 3 Round, outside round 20 74,954 217.00 235.00 222.61 171C 3 Round, eye of round (IM) 15 31,029 253.89 272.50 264.43 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 11 29,122 500.00 520.00 503.19 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 10,328 428.00 461.50 430.29 180 3 Loin, strip, bnls, 0x1 20 82,674 485.00 528.00 493.55 184 1 Loin, top butt, bnls, heavy 7 3,978 278.50 309.00 289.28 184 3 Loin, top butt, boneless 15 52,167 301.00 333.00 308.61 185A 4 Loin, bottom sirloin, flap 13 34,565 354.61 365.00 358.17 185B 1 Loin, ball-tip, bnls, heavy 13 29,555 231.50 245.00 234.75 185C 1 Loin, sirloin, tri-tip (IM) 5 12,488 245.00 277.89 252.38 185D 4 Loin, tri-tip, pld (IM) 6 36,643 360.00 401.50 362.15 189A 4 Loin, tndrloin, trmd, heavy 29 112,802 965.00 1025.00 976.48 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 6 4,099 490.00 535.00 514.21 ------------------------------------------------------------------------------- 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 7 16,892 474.65 517.00 493.18 112A 3 Rib, ribeye, bnls, light 6 14,137 564.14 600.00 574.86 112A 3 Rib, ribeye, bnls, heavy 27 169,372 539.65 594.77 551.48 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 5 33,100 204.03 218.00 214.96 114A 3 Chuck, shoulder clod, trmd 5 31,171 220.00 225.60 222.82 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 5,189 293.00 327.50 322.01 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 10 45,962 234.14 264.00 243.50 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 11 83,050 207.00 217.04 212.31 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 6,801 270.00 320.00 305.49 130 4 Chuck, short rib 8 34,648 185.00 221.00 195.81 160 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 12 88,362 233.00 240.56 236.82 168 1 Round, top inside round 20 240,010 200.00 215.00 201.32 168 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 4 2,170 204.68 218.00 211.86 171B 3 Round, outside round 16 49,590 210.00 237.80 225.19 171C 3 Round, eye of round (IM) 3 3,406 249.50 256.00 251.72 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 14 13,488 439.65 480.00 467.17 175 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 16 169,928 389.50 445.00 393.97 184 1 Loin, top butt, bnls, heavy 4 10,248 255.00 270.00 259.95 184 3 Loin, top butt, boneless 14 26,277 270.00 310.00 279.48 185A 4 Loin, bottom sirloin, flap 6 84,357 343.00 355.50 346.92 185B 1 Loin, ball-tip, bnls, heavy 5 6,430 225.00 230.00 229.72 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 10 89,494 908.98 940.00 910.26 191A 4 Loin, butt tender, trimmed 5 1,271 849.65 898.00 867.74 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 16 46,284 339.00 369.00 351.82 121C 4 Plate, Outside Skirt (IM) 8 16,068 520.00 600.00 543.57 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 17 80,951 250.00 268.20 254.41

Pectoral Meat 13 11,028 251.50 272.80 260.90 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 15 262,135 144.16 165.00 152.11 Ground Beef 75% 0 0 Ground Beef 81% 22 72,516 177.80 215.50 189.17 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 4 53,131 236.75 253.50 248.10 Ground Beef Chuck 80% 12 83,077 180.00 209.00 191.51 Ground Beef Round 85% 6 15,582 219.76 233.00 224.40 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% 4 11,477 201.14 219.70 204.54 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 23 806,674 50.00 59.50 55.21 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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