USDA Boxed Beef Cutout Midday Prices for October 11

October 11 (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: 191.46 177.88 Change from prior day: 0.48 0.96 ------------------------------------------------------------------------------- Choice/Select spread: 13.58

Total Load Count (Cuts, Trimmings, Grids): 147 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 288.60 245.18 Primal Chuck 165.89 157.83 Primal Round 170.62 167.96 Primal Loin 245.78 218.86 Primal Brisket 136.65 134.09 Primal Short Plate 126.21 131.45 Primal Flank 106.83 99.90 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/10 138 121 24 59 342 190.98 176.92 10/09 112 68 16 42 237 191.20 177.29 10/08 67 40 10 21 138 190.57 176.42 10/05 54 62 16 20 151 189.99 175.64 10/04 79 82 21 29 211 191.35 177.09 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.82 176.67 -------------------------------------------------------------------------------- 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 77.35 loads 3,094,023 pounds Select Cuts 34.28 loads 1,371,028 pounds Trimmings 11.92 loads 476,653 pounds Ground Beef 23.09 load 923,657 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 7 9,480 591.95 630.80 611.40 112A 3 Rib, ribeye, bnls, light 3 12,318 675.00 735.00 687.10 112A 3 Rib, ribeye, bnls, heavy 35 40,714 640.00 695.00 666.56 113C 1 Chuck, semi-bnls, neck/off 3 18,365 213.00 225.00 213.92 114 1 Chuck, shoulder clod 11 51,222 192.30 210.00 196.99 114A 3 Chuck, shoulder clod, trmd 39 429,742 203.00 227.00 206.84 114D 3 Chuck, clod, top blade 4 17,479 265.00 281.00 271.95 114E 3 Chuck, clod, arm roast 13 8,097 250.00 270.00 260.33 114F 5 Chuck, clod tender (IM) 8 8,208 320.00 375.00 343.79 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 87,810 293.30 320.00 311.34 116B 1 Chuck, chuck tender (IM) 8 20,899 227.50 251.00 232.60

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 49 385,312 202.99 230.00 214.00 120A 3 Brisket, point/off, bnls 10 5,915 349.00 391.17 374.37 123A 3 Short Plate, short rib 18 21,389 300.00 366.00 336.42 130 4 Chuck, short rib 19 105,364 224.88 245.50 228.48 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 39 257,259 234.30 251.00 238.65 168 1 Round, top inside round 37 69,290 200.00 218.00 205.39 168 3 Round, top inside round 26 426,650 205.00 230.00 212.64 169 5 Round, top inside, denuded 6 3,944 243.00 255.00 244.04

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 30 278,989 235.00 258.00 237.85 171C 3 Round, eye of round (IM) 20 71,493 245.50 279.60 259.59 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 13 26,073 480.00 520.50 485.86 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 12 11,236 427.00 447.00 438.65 180 3 Loin, strip, bnls, 0x1 24 64,886 476.00 529.00 501.18 184 1 Loin, top butt, bnls, heavy 17 11,887 290.00 309.00 297.65 184 3 Loin, top butt, boneless 33 62,139 295.50 325.50 305.70 185A 4 Loin, bottom sirloin, flap 30 45,779 330.00 371.00 345.43 185B 1 Loin, ball-tip, bnls, heavy 20 37,387 229.00 244.50 235.55 185C 1 Loin, sirloin, tri-tip (IM) 11 24,049 240.00 280.80 260.61 185D 4 Loin, tri-tip, pld (IM) 9 9,576 335.00 370.61 341.85 189A 4 Loin, tndrloin, trmd, heavy 31 137,396 950.00 1087.00 972.42 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 26,300 460.00 491.00 467.63 ------------------------------------------------------------------------------- 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 17,096 468.00 500.56 492.45 112A 3 Rib, ribeye, bnls, light 5 55,723 523.80 600.00 526.03 112A 3 Rib, ribeye, bnls, heavy 18 39,850 510.00 555.00 523.94 113C 1 Chuck, semi-bnls, neck/off 3 2,077 218.00 220.33 219.83 114 1 Chuck, shoulder clod 10 22,038 192.30 205.00 196.38 114A 3 Chuck, shoulder clod, trmd 17 217,773 203.00 215.00 205.24 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 25,376 277.00 325.00 286.78 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 30 237,962 254.70 275.00 263.67 116B 1 Chuck, chuck tender (IM) 8 9,364 220.50 236.00 226.41

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 7 16,530 206.88 225.00 211.88 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 2,802 300.00 356.00 316.59 130 4 Chuck, short rib 5 52,117 214.00 240.00 231.05 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 14 31,557 234.50 251.00 239.26 168 1 Round, top inside round 17 65,665 199.00 209.25 201.23 168 3 Round, top inside round 14 66,705 210.00 221.00 212.81 169 5 Round, top inside, denuded 5 3,378 242.00 249.00 243.93

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 5,903 211.00 220.00 215.71 171B 3 Round, outside round 19 88,578 222.68 243.50 232.20 171C 3 Round, eye of round (IM) 11 34,694 234.00 256.00 237.98 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 5 2,020 420.00 430.00 427.38 175 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 6 7,682 387.45 414.50 391.52 184 1 Loin, top butt, bnls, heavy 9 12,375 245.00 270.00 258.66 184 3 Loin, top butt, boneless 9 8,715 260.00 276.50 271.83 185A 4 Loin, bottom sirloin, flap 12 86,298 319.00 335.00 331.21 185B 1 Loin, ball-tip, bnls, heavy 10 36,624 215.00 247.00 225.72 185C 1 Loin, sirloin, tri-tip (IM) 7 18,415 241.42 265.00 244.39 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 9 23,158 876.00 928.00 882.43 191A 4 Loin, butt tender, trimmed 3 20,503 835.00 900.61 835.97 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 1,740 106.00 120.00 114.12 121D 4 Plate, Inside Skirt (IM) 13 30,669 326.00 360.00 346.09 121C 4 Plate, Outside Skirt (IM) 10 12,401 522.84 590.00 553.83 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 25 96,906 245.00 275.00 253.54

Pectoral Meat 18 38,073 237.00 265.00 256.00 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 35 275,017 141.86 163.00 151.02 Ground Beef 75% Ground Beef 81% 21 158,674 161.00 187.50 167.91 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 4 8,199 239.00 258.50 248.90 Ground Beef Chuck 80% 6 52,701 182.00 195.00 192.63 Ground Beef Round 85% 3 14,059 210.81 215.00 211.41 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% 6 29,180 183.30 200.70 194.75 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 8 256,153 50.00 54.00 51.74 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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