USDA Boxed Beef Cutout Midday Prices for September 28

September 28 (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: 189.30 178.25 Change from prior day: (2.74) (2.26) ------------------------------------------------------------------------------- Choice/Select spread: 11.04

Total Load Count (Cuts, Trimmings, Grids): 99 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 279.98 246.05 Primal Chuck 165.63 162.44 Primal Round 169.77 166.85 Primal Loin 242.24 214.33 Primal Brisket 133.09 134.15 Primal Short Plate 125.44 131.22 Primal Flank 108.60 103.88 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/27 89 78 52 31 250 192.04 180.51 09/26 90 85 24 46 245 192.45 181.51 09/25 92 69 12 37 209 192.68 181.56 09/24 68 35 18 18 139 192.69 182.43 09/21 70 29 16 21 136 193.34 183.86 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 192.64 181.97 -------------------------------------------------------------------------------- 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 31.95 loads 1,278,173 pounds Select Cuts 26.06 loads 1,042,579 pounds Trimmings 30.47 loads 1,218,986 pounds Ground Beef 10.34 load 413,623 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 11 17,925 588.00 626.00 597.90 112A 3 Rib, ribeye, bnls, light 5 25,236 625.00 683.54 656.10 112A 3 Rib, ribeye, bnls, heavy 31 248,837 620.00 689.00 638.19 113C 1 Chuck, semi-bnls, neck/off 4 44,808 176.63 211.50 179.21 114 1 Chuck, shoulder clod 6 10,215 202.00 216.89 205.38 114A 3 Chuck, shoulder clod, trmd 9 22,413 219.00 235.00 222.87 114D 3 Chuck, clod, top blade 6 5,032 270.00 298.00 278.78 114E 3 Chuck, clod, arm roast 3 4,413 259.50 290.00 288.87 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 10 37,862 275.00 299.00 290.59 116B 1 Chuck, chuck tender (IM) 7 6,499 249.65 258.00 252.09

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 27,187 207.00 230.00 210.03 120A 3 Brisket, point/off, bnls 7 2,941 357.98 380.00 374.41 123A 3 Short Plate, short rib 5 9,047 330.00 361.00 353.67 130 4 Chuck, short rib 9 15,646 218.24 230.00 226.32 160 1 Round, bone-in 161 1 Round, boneless 4 3,004 217.50 229.65 222.59

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 21 32,051 235.00 255.00 243.46 168 1 Round, top inside round 10 58,064 185.88 205.98 201.77 168 3 Round, top inside round 20 200,967 198.87 220.00 207.09 169 5 Round, top inside, denuded 4 3,994 248.00 258.00 251.20

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 1,693 214.50 220.00 218.76 171B 3 Round, outside round 16 20,559 222.90 242.00 232.94 171C 3 Round, eye of round (IM) 17 31,264 240.00 275.00 259.12 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 8 52,109 470.00 506.00 480.85 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 11 33,562 414.00 430.00 419.47 180 3 Loin, strip, bnls, 0x1 22 150,003 468.00 536.66 480.59 184 1 Loin, top butt, bnls, heavy 4 2,355 285.00 285.00 285.00 184 3 Loin, top butt, boneless 11 21,462 295.00 321.95 301.35 185A 4 Loin, bottom sirloin, flap 12 33,388 345.25 361.32 349.54 185B 1 Loin, ball-tip, bnls, heavy 7 35,127 222.00 245.68 225.59 185C 1 Loin, sirloin, tri-tip (IM) 4 12,893 234.45 251.00 234.95 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 11 12,764 975.00 1010.00 983.09 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 3,856 495.50 505.58 500.04 ------------------------------------------------------------------------------- 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 11,077 484.00 517.50 492.11 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 18 19,515 534.65 572.98 551.63 113C 1 Chuck, semi-bnls, neck/off 3 3,471 209.24 230.00 210.71 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 9 30,337 210.00 230.00 218.88 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 5,234 325.00 325.00 325.00 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 13 36,905 255.00 285.00 269.77 116B 1 Chuck, chuck tender (IM) 6 16,431 240.17 252.50 245.80

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 12 64,054 204.00 220.29 210.22 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 8,877 290.00 351.00 319.55 130 4 Chuck, short rib 4 1,054 200.68 225.00 209.75 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 9 41,837 233.50 250.00 236.86 168 1 Round, top inside round 7 85,002 198.00 205.89 200.28 168 3 Round, top inside round 3 27,452 203.00 212.39 204.16 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 2,663 206.00 220.00 209.57 171B 3 Round, outside round 7 52,433 216.77 235.00 222.30 171C 3 Round, eye of round (IM) 4 16,110 249.55 256.00 251.09 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 5 1,765 415.00 457.65 444.19 175 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 3 3,868 400.00 437.65 416.44 184 1 Loin, top butt, bnls, heavy 3 7,499 245.00 265.00 254.92 184 3 Loin, top butt, boneless 26 430,075 247.00 277.65 252.24 185A 4 Loin, bottom sirloin, flap 7 32,904 334.17 364.00 340.84 185B 1 Loin, ball-tip, bnls, heavy 8 11,185 223.00 243.49 227.64 185C 1 Loin, sirloin, tri-tip (IM) 10 33,988 228.00 260.00 235.62 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 6 4,968 905.00 950.50 917.01 191A 4 Loin, butt tender, trimmed 5 5,507 830.00 872.50 834.55 193 4 Flank, flank steak (IM) 8 11,965 445.00 492.65 454.85 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 6,758 91.61 118.49 102.50 121D 4 Plate, Inside Skirt (IM) 17 55,807 333.00 370.68 344.10 121C 4 Plate, Outside Skirt (IM) 9 11,960 546.50 630.00 560.23 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 20 34,344 246.68 270.00 253.26

Pectoral Meat 9 9,079 252.00 265.89 257.77 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% Ground Beef 75% Ground Beef 81% 24 188,866 171.00 206.00 174.18 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 4 8,366 224.06 261.89 229.00 Ground Beef Chuck 80% 5 21,693 169.91 197.00 175.49 Ground Beef Round 85% 3 25,271 205.41 224.00 206.07 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- 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 40,373 192.51 212.95 203.99 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 31 998,486 42.00 53.50 47.06 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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