USDA Boxed Beef Cutout Midday 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 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: 195.21 184.62 Change from prior day: 0.29 0.66 ------------------------------------------------------------------------------- Choice/Select spread: 10.58

Total Load Count (Cuts, Trimmings, Grids): 114 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 292.30 251.95 Primal Chuck 168.49 165.56 Primal Round 172.97 172.38 Primal Loin 253.53 228.45 Primal Brisket 136.02 138.14 Primal Short Plate 128.92 133.81 Primal Flank 113.50 108.67 -------------------------------------------------------------------------------- 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 46.75 loads 1,869,881 pounds Select Cuts 29.68 loads 1,187,106 pounds Trimmings 7.52 loads 300,873 pounds Ground Beef 30.51 load 1,220,232 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 13 8,242 608.00 645.00 612.59 112A 3 Rib, ribeye, bnls, light 5 3,944 671.00 730.00 698.85 112A 3 Rib, ribeye, bnls, heavy 33 98,317 655.00 719.21 678.68 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 4 2,604 219.00 225.00 222.48 114A 3 Chuck, shoulder clod, trmd 11 32,528 215.05 231.91 226.83 114D 3 Chuck, clod, top blade 5 4,610 270.00 288.00 278.76 114E 3 Chuck, clod, arm roast 8 115,703 245.00 266.30 251.01 114F 5 Chuck, clod tender (IM) 12 15,807 326.00 385.00 345.93 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 113,399 277.30 296.00 285.87 116B 1 Chuck, chuck tender (IM) 9 22,559 245.50 256.00 251.68

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 26 37,431 206.00 232.00 217.51 120A 3 Brisket, point/off, bnls 10 9,951 359.50 375.00 367.44 123A 3 Short Plate, short rib 20 35,578 275.47 366.00 320.22 130 4 Chuck, short rib 17 65,520 184.20 239.00 200.77 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 25 83,910 232.50 257.00 245.91 168 1 Round, top inside round 9 10,855 200.50 220.00 209.33 168 3 Round, top inside round 13 36,064 213.50 232.00 221.65 169 5 Round, top inside, denuded 6 5,526 261.00 271.50 261.93

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 3,590 211.22 222.00 215.68 171B 3 Round, outside round 18 130,623 217.50 240.50 227.61 171C 3 Round, eye of round (IM) 14 39,864 247.50 275.00 263.41 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 15,593 499.81 515.00 506.05 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 10 9,413 445.00 461.25 449.27 180 3 Loin, strip, bnls, 0x1 34 206,229 489.00 530.00 503.23 184 1 Loin, top butt, bnls, heavy 9 13,474 290.00 315.00 297.41 184 3 Loin, top butt, boneless 8 32,520 300.00 320.00 310.14 185A 4 Loin, bottom sirloin, flap 41 273,551 343.00 375.00 348.86 185B 1 Loin, ball-tip, bnls, heavy 9 8,718 227.50 245.00 237.99 185C 1 Loin, sirloin, tri-tip (IM) 8 23,373 250.00 280.00 254.77 185D 4 Loin, tri-tip, pld (IM) 6 8,429 349.25 381.00 371.85 189A 4 Loin, tndrloin, trmd, heavy 20 38,522 980.00 1117.00 1031.05 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 7,601 504.21 545.00 523.35 ------------------------------------------------------------------------------- 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 8 7,247 485.50 526.00 509.13 112A 3 Rib, ribeye, bnls, light 3 1,746 599.21 600.00 599.80 112A 3 Rib, ribeye, bnls, heavy 14 15,660 530.00 575.00 559.50 113C 1 Chuck, semi-bnls, neck/off 6 42,529 212.35 218.00 214.76 114 1 Chuck, shoulder clod 3 4,167 209.90 220.00 210.45 114A 3 Chuck, shoulder clod, trmd 15 75,994 215.00 230.00 219.59 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 4,177 310.00 325.00 319.18 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 19 95,156 256.00 284.75 272.18 116B 1 Chuck, chuck tender (IM) 6 8,087 248.75 261.00 254.26

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 7 10,852 214.00 228.00 222.89 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 2,750 285.00 325.00 298.54 130 4 Chuck, short rib 13 86,770 184.20 218.00 189.53 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 13 35,994 231.00 255.00 235.54 168 1 Round, top inside round 14 64,129 206.59 222.58 213.77 168 3 Round, top inside round 4 8,683 220.00 220.00 220.00 169 5 Round, top inside, denuded 5 5,344 244.00 269.00 254.59

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 17 43,461 227.21 242.00 231.17 171C 3 Round, eye of round (IM) 16 36,929 251.00 270.00 263.54 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 3 2,734 420.00 470.00 445.18 175 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 7 10,968 411.70 430.00 419.14 184 1 Loin, top butt, bnls, heavy 7 15,971 260.00 286.00 269.60 184 3 Loin, top butt, boneless 13 69,129 265.00 300.00 273.62 185A 4 Loin, bottom sirloin, flap 12 100,208 344.50 361.00 350.54 185B 1 Loin, ball-tip, bnls, heavy 14 27,499 224.00 240.00 228.53 185C 1 Loin, sirloin, tri-tip (IM) 6 7,639 251.00 270.50 253.84 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 18 222,822 895.00 940.00 924.85 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 3 3,115 462.50 481.95 468.43 ------------------------------------------------------------------------------- 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) 15 23,926 348.00 376.00 355.89 121C 4 Plate, Outside Skirt (IM) 16 19,930 524.00 631.00 588.05 121E 6 Outside Skirt, pld (IM) 5 4,797 875.00 910.00 878.38

Cap, Wedge Meat & (IM) Lean 27 102,376 247.00 275.00 252.96

Pectoral Meat 22 308,426 249.00 275.00 267.54 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 16 117,412 141.78 171.00 160.47 Ground Beef 75% Ground Beef 81% 23 102,478 188.00 211.00 191.79 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 4 20,711 244.50 263.75 250.25 Ground Beef Chuck 80% 8 79,456 174.43 202.00 191.38 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% 5 22,935 197.60 206.30 199.30 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 5 177,673 55.00 55.50 55.24 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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