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USDA Boxed Beef Cutout Closing Prices for October 3

October 3 (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: 190.70 177.53 Change from prior day: 0.21 0.77 ------------------------------------------------------------------------------- Choice/Select spread: 13.17

Total Load Count (Cuts, Trimmings, Grids): 242 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 287.05 244.54 Primal Chuck 165.23 157.98 Primal Round 170.43 166.48 Primal Loin 244.11 218.59 Primal Brisket 133.84 132.57 Primal Short Plate 126.82 132.15 Primal Flank 110.02 102.71 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/02 80 76 23 32 211 190.49 176.76 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.63 178.65 -------------------------------------------------------------------------------- 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 92.43 loads 3,697,398 pounds Select Cuts 77.73 loads 3,109,083 pounds Trimmings 19.66 loads 786,457 pounds Ground Beef 52.53 load 2,101,068 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 41 67,371 549.00 645.00 588.06 112A 3 Rib, ribeye, bnls, light 12 102,521 675.00 731.00 677.08 112A 3 Rib, ribeye, bnls, heavy 114 124,072 645.00 708.00 675.88 113C 1 Chuck, semi-bnls, neck/off 6 18,362 206.45 230.00 218.21 114 1 Chuck, shoulder clod 18 94,830 193.00 218.00 195.29 114A 3 Chuck, shoulder clod, trmd 40 101,344 209.00 232.00 215.74 114D 3 Chuck, clod, top blade 5 3,464 244.00 300.00 284.84 114E 3 Chuck, clod, arm roast 20 101,907 238.40 300.00 254.73 114F 5 Chuck, clod tender (IM) 20 29,014 315.00 375.00 334.33 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 65 118,796 269.00 296.00 292.45 116B 1 Chuck, chuck tender (IM) 31 103,102 234.00 261.00 246.73

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 87 253,280 206.00 230.25 211.62 120A 3 Brisket, point/off, bnls 19 16,574 347.00 380.00 364.49 123A 3 Short Plate, short rib 30 40,839 295.00 365.00 330.40 130 4 Chuck, short rib 52 74,356 190.00 246.44 218.71 160 1 Round, bone-in 7 9,443 207.00 224.00 209.86 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 93 209,488 235.00 258.00 243.65 168 1 Round, top inside round 74 155,205 197.00 214.00 201.88 168 3 Round, top inside round 33 221,388 204.00 232.00 210.57 169 5 Round, top inside, denuded 20 33,409 240.00 254.73 242.78

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 3,379 195.00 221.00 215.66 171B 3 Round, outside round 42 291,292 217.00 243.00 230.35 171C 3 Round, eye of round (IM) 56 105,882 245.00 280.00 258.97 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 26 72,108 480.00 524.00 493.40 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 19 14,562 414.00 449.00 434.09 180 3 Loin, strip, bnls, 0x1 78 150,178 476.60 528.00 502.42 184 1 Loin, top butt, bnls, heavy 36 32,754 283.00 317.00 291.63 184 3 Loin, top butt, boneless 55 129,143 297.00 329.00 305.97 185A 4 Loin, bottom sirloin, flap 71 399,985 323.00 380.00 335.47 185B 1 Loin, ball-tip, bnls, heavy 42 102,896 216.01 240.00 226.02 185C 1 Loin, sirloin, tri-tip (IM) 26 92,314 233.51 275.00 245.10 185D 4 Loin, tri-tip, pld (IM) 10 32,500 349.70 355.00 354.14 189A 4 Loin, tndrloin, trmd, heavy 60 65,573 960.00 1111.00 991.18 191A 4 Loin, butt tender, trimmed 3 1,926 995.00 998.81 997.07 193 4 Flank, flank steak (IM) 13 13,475 484.52 545.00 502.61 ------------------------------------------------------------------------------- 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 39 102,847 450.00 501.44 473.82 112A 3 Rib, ribeye, bnls, light 27 92,200 533.20 600.00 540.06 112A 3 Rib, ribeye, bnls, heavy 86 343,597 494.00 565.50 529.49 113C 1 Chuck, semi-bnls, neck/off 19 39,550 198.00 218.25 213.39 114 1 Chuck, shoulder clod 18 30,065 196.50 210.36 202.58 114A 3 Chuck, shoulder clod, trmd 29 164,426 205.00 224.00 210.90 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 12 6,908 325.00 335.81 328.06 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 48 356,743 248.00 281.50 255.60 116B 1 Chuck, chuck tender (IM) 24 36,242 240.00 250.00 244.96

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 18 90,872 205.44 227.00 209.42 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 16 19,240 265.00 315.00 288.22 130 4 Chuck, short rib 36 44,878 195.00 248.00 218.26 160 1 Round, bone-in 161 1 Round, boneless 7 6,704 209.98 224.00 217.84

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 34 121,625 224.55 250.00 236.07 168 1 Round, top inside round 27 79,836 193.00 210.00 198.15 168 3 Round, top inside round 24 223,641 204.00 219.94 210.19 169 5 Round, top inside, denuded 13 23,512 240.98 250.00 242.49

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 44 200,550 215.98 231.89 222.61 171C 3 Round, eye of round (IM) 27 48,978 240.00 265.00 247.92 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 30 62,202 399.58 436.50 423.46 175 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 39 62,186 373.00 428.00 397.79 184 1 Loin, top butt, bnls, heavy 12 12,181 240.45 271.50 250.50 184 3 Loin, top butt, boneless 29 133,051 251.62 276.94 265.75 185A 4 Loin, bottom sirloin, flap 18 123,460 313.00 375.00 321.88 185B 1 Loin, ball-tip, bnls, heavy 31 68,019 213.01 239.10 226.50 185C 1 Loin, sirloin, tri-tip (IM) 14 93,148 224.00 255.00 242.34 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 39 47,057 865.00 1074.00 925.25 191A 4 Loin, butt tender, trimmed 9 7,081 850.00 901.44 857.93 193 4 Flank, flank steak (IM) 11 19,372 426.00 490.00 445.03 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 16 32,107 92.00 134.37 115.82 121D 4 Plate, Inside Skirt (IM) 30 58,342 335.58 368.25 347.58 121C 4 Plate, Outside Skirt (IM) 22 26,062 513.00 620.00 555.63 121E 6 Outside Skirt, pld (IM) 3 1,245 829.15 875.00 855.63

Cap, Wedge Meat & (IM) Lean 54 200,289 243.00 275.00 253.17

Pectoral Meat 29 65,856 240.00 271.00 257.16 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 63 358,284 139.99 162.00 148.37 Ground Beef 75% Ground Beef 81% 108 465,091 179.57 212.50 185.83 Ground Beef 85% Ground Beef 90% Ground Beef 93% 29 75,799 246.00 270.28 253.15 Ground Beef Chuck 80% 50 241,390 179.73 207.00 190.39 Ground Beef Round 85% 45 139,811 209.24 222.06 217.42 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% 14 357,249 183.41 195.25 188.14 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 32 759,257 48.00 60.84 52.92 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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