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USDA Boxed Beef Cutout Closing Prices for October 2

October 2 (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: 190.49 176.76 Change from prior day: 1.30 0.14 ------------------------------------------------------------------------------- Choice/Select spread: 13.73

Total Load Count (Cuts, Trimmings, Grids): 211 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 288.91 245.23 Primal Chuck 164.32 156.56 Primal Round 171.25 166.97 Primal Loin 242.91 215.87 Primal Brisket 132.42 131.67 Primal Short Plate 126.93 132.37 Primal Flank 109.43 104.54 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/01 84 61 19 27 191 189.19 176.62 09/28 53 46 38 13 150 188.98 177.85 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.07 179.61 -------------------------------------------------------------------------------- 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 79.78 loads 3,191,098 pounds Select Cuts 75.86 loads 3,034,251 pounds Trimmings 23.38 loads 935,389 pounds Ground Beef 31.98 load 1,279,111 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 27 73,710 550.31 630.00 562.75 112A 3 Rib, ribeye, bnls, light 5 3,670 673.11 700.00 690.95 112A 3 Rib, ribeye, bnls, heavy 51 113,905 640.00 700.00 655.43 113C 1 Chuck, semi-bnls, neck/off 8 31,745 195.00 230.00 221.40 114 1 Chuck, shoulder clod 15 46,122 201.00 220.03 210.23 114A 3 Chuck, shoulder clod, trmd 41 250,979 207.00 228.00 212.03 114D 3 Chuck, clod, top blade 13 12,106 270.00 306.00 282.28 114E 3 Chuck, clod, arm roast 8 10,299 259.55 284.00 261.19 114F 5 Chuck, clod tender (IM) 13 21,066 334.00 384.62 346.22 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 48 346,166 280.00 305.00 293.72 116B 1 Chuck, chuck tender (IM) 23 67,738 236.00 261.50 240.46

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 36 319,266 203.00 224.00 207.61 120A 3 Brisket, point/off, bnls 13 16,750 349.45 380.00 352.12 123A 3 Short Plate, short rib 25 41,267 280.00 361.00 333.58 130 4 Chuck, short rib 25 50,849 201.74 243.00 229.25 160 1 Round, bone-in 6 32,839 205.00 232.50 216.79 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 59 158,387 232.97 255.00 244.94 168 1 Round, top inside round 24 71,482 198.00 212.99 201.34 168 3 Round, top inside round 33 193,381 205.00 224.00 211.75 169 5 Round, top inside, denuded 16 40,734 241.00 255.00 243.86

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 42 92,126 226.00 252.00 233.92 171C 3 Round, eye of round (IM) 38 69,244 241.00 280.00 257.69 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 33 61,236 479.35 522.25 494.18 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 6 13,704 440.00 453.00 442.03 180 3 Loin, strip, bnls, 0x1 40 37,265 476.00 520.39 492.89 184 1 Loin, top butt, bnls, heavy 9 5,421 280.00 300.00 294.14 184 3 Loin, top butt, boneless 15 120,658 291.00 322.80 301.93 185A 4 Loin, bottom sirloin, flap 22 75,880 332.74 376.00 344.98 185B 1 Loin, ball-tip, bnls, heavy 26 310,572 215.00 235.00 223.96 185C 1 Loin, sirloin, tri-tip (IM) 8 29,209 233.51 254.14 238.01 185D 4 Loin, tri-tip, pld (IM) 16 32,177 341.00 371.00 351.28 189A 4 Loin, tndrloin, trmd, heavy 31 141,863 944.21 1025.00 955.75 191A 4 Loin, butt tender, trimmed 7 1,646 940.00 982.00 966.82 193 4 Flank, flank steak (IM) 27 14,453 472.30 526.25 497.09 ------------------------------------------------------------------------------- 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 22 22,719 450.00 501.77 472.40 112A 3 Rib, ribeye, bnls, light 8 41,981 525.00 597.00 543.97 112A 3 Rib, ribeye, bnls, heavy 46 143,690 525.00 583.00 536.74 113C 1 Chuck, semi-bnls, neck/off 13 23,789 205.00 227.75 213.00 114 1 Chuck, shoulder clod 13 203,728 194.47 220.03 196.21 114A 3 Chuck, shoulder clod, trmd 22 148,543 205.00 222.25 210.02 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 10,762 279.00 335.00 309.24 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 43 507,953 249.60 278.00 255.00 116B 1 Chuck, chuck tender (IM) 14 25,994 236.90 254.25 247.27

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 18 183,532 203.00 218.00 205.81 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 10 28,946 267.00 361.00 291.05 130 4 Chuck, short rib 13 27,518 202.00 234.00 228.81 160 1 Round, bone-in 161 1 Round, boneless 4 3,073 216.00 226.00 221.15

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 19 47,939 232.97 250.00 239.05 168 1 Round, top inside round 19 33,729 190.00 212.90 198.58 168 3 Round, top inside round 18 83,960 205.00 219.00 212.04 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 34 328,311 217.00 240.00 221.27 171C 3 Round, eye of round (IM) 24 141,995 235.00 261.25 240.86 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 20 20,798 399.68 445.00 430.59 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 30 115,700 374.00 429.00 381.64 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 26 103,047 253.20 279.50 260.33 185A 4 Loin, bottom sirloin, flap 12 51,520 323.00 365.00 332.82 185B 1 Loin, ball-tip, bnls, heavy 30 198,373 215.00 246.25 224.46 185C 1 Loin, sirloin, tri-tip (IM) 7 22,635 233.95 261.85 240.21 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 25 185,014 849.21 942.25 855.33 191A 4 Loin, butt tender, trimmed 11 4,133 845.00 900.00 874.67 193 4 Flank, flank steak (IM) 12 11,606 432.97 481.00 456.47 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 14,061 93.00 119.00 104.77 121D 4 Plate, Inside Skirt (IM) 32 59,144 342.00 371.00 346.78 121C 4 Plate, Outside Skirt (IM) 9 5,522 550.00 611.00 566.30 121E 6 Outside Skirt, pld (IM) 6 7,040 839.97 875.00 872.96

Cap, Wedge Meat & (IM) Lean 32 167,960 242.00 263.50 250.19

Pectoral Meat 20 43,563 255.00 270.00 260.70 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 30 357,127 134.06 169.00 143.48 Ground Beef 75% Ground Beef 81% 48 230,975 168.00 209.00 182.83 Ground Beef 85% Ground Beef 90% Ground Beef 93% 18 95,602 235.00 270.00 249.06 Ground Beef Chuck 80% 24 253,790 177.00 212.75 186.41 Ground Beef Round 85% 15 19,449 211.00 232.90 216.06 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% 12 44,050 175.50 203.25 196.90 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 32 935,389 48.00 54.61 51.38 Frozen 50% lean trimmings 0 0 -------------------------------------------------------------------------------- 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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