USDA Boxed Beef Cutout Closing Prices for September 21

September 21 (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: 193.34 183.86 Change from prior day: (1.65) (0.39) ------------------------------------------------------------------------------- Choice/Select spread: 9.48

Total Load Count (Cuts, Trimmings, Grids): 136 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 287.43 249.99 Primal Chuck 164.20 165.51 Primal Round 173.85 173.40 Primal Loin 252.73 226.67 Primal Brisket 134.66 133.78 Primal Short Plate 128.07 133.39 Primal Flank 115.05 104.71 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/20 70 49 24 40 184 194.99 184.25 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.71 183.07 -------------------------------------------------------------------------------- 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 70.26 loads 2,810,339 pounds Select Cuts 28.56 loads 1,142,353 pounds Trimmings 15.65 loads 625,910 pounds Ground Beef 21.46 load 858,542 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 8 52,785 599.00 622.00 603.15 112A 3 Rib, ribeye, bnls, light 6 8,108 679.21 730.00 696.36 112A 3 Rib, ribeye, bnls, heavy 43 270,257 655.00 704.58 664.21 113C 1 Chuck, semi-bnls, neck/off 4 42,406 177.00 221.89 178.67 114 1 Chuck, shoulder clod 3 3,503 218.00 221.98 219.22 114A 3 Chuck, shoulder clod, trmd 23 147,803 213.99 242.00 221.56 114D 3 Chuck, clod, top blade 3 10,617 260.00 289.68 279.93 114E 3 Chuck, clod, arm roast 6 29,706 240.00 272.00 268.00 114F 5 Chuck, clod tender (IM) 6 3,508 346.50 386.00 356.04 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 411,685 280.00 297.00 285.33 116B 1 Chuck, chuck tender (IM) 17 34,390 241.73 265.98 256.04

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 31 171,341 206.00 229.00 210.37 120A 3 Brisket, point/off, bnls 7 16,732 359.56 383.00 380.48 123A 3 Short Plate, short rib 9 28,001 271.79 350.00 302.38 130 4 Chuck, short rib 25 46,164 190.00 246.00 220.14 160 1 Round, bone-in 161 1 Round, boneless 7 12,631 215.00 231.00 221.17

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 21 36,008 240.05 261.00 247.93 168 1 Round, top inside round 16 72,638 200.00 228.89 208.80 168 3 Round, top inside round 37 621,310 215.00 234.98 217.50 169 5 Round, top inside, denuded 8 7,671 239.70 274.50 254.64

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 6,936 211.00 230.99 217.45 171B 3 Round, outside round 33 132,840 219.00 241.98 228.07 171C 3 Round, eye of round (IM) 23 30,515 241.73 283.00 269.32 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 5 8,778 488.58 526.67 498.86 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 14,412 445.00 460.50 452.93 180 3 Loin, strip, bnls, 0x1 12 23,841 505.00 528.00 516.26 184 1 Loin, top butt, bnls, heavy 6 4,371 290.00 318.00 295.48 184 3 Loin, top butt, boneless 12 63,921 300.00 323.00 307.42 185A 4 Loin, bottom sirloin, flap 15 146,620 347.00 401.00 352.80 185B 1 Loin, ball-tip, bnls, heavy 12 30,831 221.00 245.00 227.13 185C 1 Loin, sirloin, tri-tip (IM) 7 38,405 244.00 268.20 255.37 185D 4 Loin, tri-tip, pld (IM) 7 52,362 343.00 365.00 352.56 189A 4 Loin, tndrloin, trmd, heavy 22 35,275 971.50 1009.56 986.25 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 10 24,880 471.00 537.00 500.46 ------------------------------------------------------------------------------- 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 9 17,678 489.00 527.89 498.92 112A 3 Rib, ribeye, bnls, light 5 3,683 565.00 598.00 573.12 112A 3 Rib, ribeye, bnls, heavy 28 92,236 525.00 577.98 544.55 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 11 47,383 195.00 223.00 204.95 114A 3 Chuck, shoulder clod, trmd 20 152,341 213.59 230.98 218.80 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 3,420 290.00 325.00 316.88 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 9 19,376 270.50 295.00 277.49 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 11 65,672 203.63 228.00 208.36 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 7 21,442 267.13 340.00 306.97 130 4 Chuck, short rib 6 16,856 206.00 222.00 218.54 160 1 Round, bone-in 0 0 161 1 Round, boneless 3 5,558 216.00 231.00 229.27

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 9 16,427 228.00 255.00 240.01 168 1 Round, top inside round 8 12,168 200.00 225.89 206.17 168 3 Round, top inside round 11 19,051 216.17 233.00 224.01 169 5 Round, top inside, denuded 4 2,209 239.70 273.00 259.34

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 3,092 214.00 220.89 218.12 171B 3 Round, outside round 11 71,819 224.00 236.00 226.07 171C 3 Round, eye of round (IM) 18 73,733 244.00 275.00 252.38 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 15 42,005 373.94 480.15 409.37 175 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 12 58,345 345.63 426.00 374.14 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 26 122,901 264.00 300.00 269.30 185A 4 Loin, bottom sirloin, flap 4 16,873 344.77 381.00 346.88 185B 1 Loin, ball-tip, bnls, heavy 11 19,816 226.00 235.00 230.45 185C 1 Loin, sirloin, tri-tip (IM) 10 59,935 240.00 270.00 241.66 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 4 4,884 905.00 944.56 913.47 191A 4 Loin, butt tender, trimmed 3 1,552 850.00 870.50 850.95 193 4 Flank, flank steak (IM) 4 33,707 454.17 475.00 456.27 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 6,206 98.50 121.85 111.87 121D 4 Plate, Inside Skirt (IM) 5 7,113 354.50 370.00 363.34 121C 4 Plate, Outside Skirt (IM) 10 21,689 511.39 620.00 533.27 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 27 105,909 237.00 280.00 252.50

Pectoral Meat 17 26,469 234.00 270.89 264.86 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 19 342,805 141.07 161.98 151.31 Ground Beef 75% 0 0 Ground Beef 81% 28 71,363 176.57 211.50 191.40 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 7 5,922 234.07 271.98 248.38 Ground Beef Chuck 80% 15 173,288 170.00 202.00 187.97 Ground Beef Round 85% 4 49,229 215.37 231.71 229.71 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 28,565 196.60 205.25 202.55 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 22 625,210 48.00 55.50 51.71 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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