USDA Boxed Beef Cutout Closing Prices for September 20

September 20 (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: 194.99 184.25 Change from prior day: 0.07 0.29 ------------------------------------------------------------------------------- Choice/Select spread: 10.74

Total Load Count (Cuts, Trimmings, Grids): 184 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 291.81 251.60 Primal Chuck 168.18 165.36 Primal Round 172.79 172.04 Primal Loin 253.21 228.27 Primal Brisket 135.15 135.61 Primal Short Plate 128.82 134.02 Primal Flank 116.14 107.32 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/19 96 69 19 40 225 194.92 183.96 09/18 64 64 15 33 176 194.27 184.00 09/17 91 48 12 21 171 193.05 182.46 09/14 356 381 75 179 991 191.32 180.68 09/13 90 104 13 34 241 191.40 179.95 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 192.99 182.21 -------------------------------------------------------------------------------- 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 70.31 loads 2,812,300 pounds Select Cuts 49.38 loads 1,975,011 pounds Trimmings 24.26 loads 970,431 pounds Ground Beef 40.40 load 1,616,146 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 17 9,029 605.00 645.00 613.17 112A 3 Rib, ribeye, bnls, light 6 4,282 671.00 730.00 701.31 112A 3 Rib, ribeye, bnls, heavy 42 120,173 655.00 719.21 677.20 113C 1 Chuck, semi-bnls, neck/off 3 19,777 219.00 225.00 224.41 114 1 Chuck, shoulder clod 12 29,549 205.24 225.00 213.16 114A 3 Chuck, shoulder clod, trmd 17 67,829 215.05 235.00 226.93 114D 3 Chuck, clod, top blade 11 33,830 239.00 289.00 272.32 114E 3 Chuck, clod, arm roast 13 132,645 240.00 278.00 252.09 114F 5 Chuck, clod tender (IM) 19 23,335 305.63 385.00 334.62 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 196,081 277.30 302.00 286.85 116B 1 Chuck, chuck tender (IM) 19 35,772 241.62 261.50 250.49

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 43 153,403 204.00 232.00 209.75 120A 3 Brisket, point/off, bnls 12 10,693 359.50 378.50 368.15 123A 3 Short Plate, short rib 24 43,062 275.47 366.00 322.00 130 4 Chuck, short rib 21 71,376 184.20 239.00 203.12 160 1 Round, bone-in 4 2,047 205.00 212.00 207.73 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 34 165,668 232.50 257.00 246.66 168 1 Round, top inside round 14 33,886 200.50 220.00 209.62 168 3 Round, top inside round 20 64,267 213.50 232.00 219.98 169 5 Round, top inside, denuded 7 8,564 261.00 271.50 263.02

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 4,954 195.60 222.00 216.56 171B 3 Round, outside round 25 166,958 217.50 240.50 228.23 171C 3 Round, eye of round (IM) 21 46,792 246.62 276.00 262.89 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 11 18,677 499.81 531.00 507.36 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 16 17,034 441.00 461.25 449.05 180 3 Loin, strip, bnls, 0x1 42 214,503 489.00 530.00 503.71 184 1 Loin, top butt, bnls, heavy 11 14,701 290.00 315.00 297.91 184 3 Loin, top butt, boneless 13 53,985 300.00 325.00 310.66 185A 4 Loin, bottom sirloin, flap 57 368,402 340.67 406.00 350.13 185B 1 Loin, ball-tip, bnls, heavy 12 12,945 225.29 245.00 234.19 185C 1 Loin, sirloin, tri-tip (IM) 17 89,121 250.00 280.00 258.80 185D 4 Loin, tri-tip, pld (IM) 10 50,757 344.00 381.00 350.51 189A 4 Loin, tndrloin, trmd, heavy 33 65,843 940.00 1123.00 1013.11 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 21 62,125 496.00 545.00 541.06 ------------------------------------------------------------------------------- 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 17,815 469.00 511.70 500.15 112A 3 Rib, ribeye, bnls, light 7 3,902 565.00 600.00 583.97 112A 3 Rib, ribeye, bnls, heavy 26 53,033 530.00 590.00 559.46 113C 1 Chuck, semi-bnls, neck/off 7 49,447 212.35 222.64 215.86 114 1 Chuck, shoulder clod 6 12,859 209.90 226.00 212.17 114A 3 Chuck, shoulder clod, trmd 25 102,542 209.40 232.00 219.47 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 5,575 309.00 325.00 318.36 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 43 247,111 256.00 287.00 274.93 116B 1 Chuck, chuck tender (IM) 11 14,709 245.00 261.00 251.95

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 17 74,604 202.00 228.00 208.50 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 9 11,773 255.00 375.50 302.57 130 4 Chuck, short rib 21 106,864 184.20 222.00 195.17 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 20 85,615 231.00 255.00 235.76 168 1 Round, top inside round 19 74,155 206.59 222.58 213.27 168 3 Round, top inside round 7 20,014 216.00 236.00 221.12 169 5 Round, top inside, denuded 6 6,770 244.00 269.00 254.25

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 5,288 215.00 221.25 219.17 171B 3 Round, outside round 24 75,354 221.00 242.00 230.71 171C 3 Round, eye of round (IM) 24 61,760 250.04 270.00 259.93 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 6 3,637 420.00 470.00 448.05 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 11 52,522 403.72 430.00 408.33 184 1 Loin, top butt, bnls, heavy 14 32,189 260.00 295.00 271.67 184 3 Loin, top butt, boneless 17 105,071 265.00 300.00 276.91 185A 4 Loin, bottom sirloin, flap 13 101,365 344.50 364.80 350.70 185B 1 Loin, ball-tip, bnls, heavy 24 82,998 219.34 240.00 231.14 185C 1 Loin, sirloin, tri-tip (IM) 11 18,947 245.00 271.00 249.59 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 28 241,598 895.00 962.00 924.51 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 9 8,577 445.50 481.95 465.54 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 13 48,443 100.61 120.00 102.30 121D 4 Plate, Inside Skirt (IM) 25 84,364 348.00 376.00 351.79 121C 4 Plate, Outside Skirt (IM) 20 23,773 524.00 631.00 588.89 121E 6 Outside Skirt, pld (IM) 6 5,077 823.00 910.00 875.33

Cap, Wedge Meat & (IM) Lean 33 135,550 247.00 275.00 252.31

Pectoral Meat 30 323,229 249.00 275.00 267.29 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 21 193,651 141.00 175.00 158.14 Ground Beef 75% Ground Beef 81% 35 315,641 169.60 211.00 178.32 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 6 25,695 244.50 263.75 251.79 Ground Beef Chuck 80% 13 144,017 174.43 202.00 189.85 Ground Beef Round 85% 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 28,635 197.60 206.30 199.09 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 20 748,651 48.00 56.30 52.84 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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