USDA Boxed Beef Cutout Midday Prices for October 12

October 12 (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: 191.45 177.47 Change from prior day: 0.14 0.15 ------------------------------------------------------------------------------- Choice/Select spread: 13.97

Total Load Count (Cuts, Trimmings, Grids): 96 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 285.74 240.33 Primal Chuck 167.05 160.08 Primal Round 171.20 167.76 Primal Loin 245.96 217.78 Primal Brisket 136.76 134.46 Primal Short Plate 123.84 129.11 Primal Flank 105.82 96.90 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/11 114 70 19 41 243 191.31 177.32 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.81 176.72 -------------------------------------------------------------------------------- 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 41.09 loads 1,643,627 pounds Select Cuts 32.44 loads 1,297,449 pounds Trimmings 7.67 loads 306,847 pounds Ground Beef 15.06 load 602,366 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 5 19,827 576.50 615.57 581.14 112A 3 Rib, ribeye, bnls, light 9 37,455 666.00 735.00 677.12 112A 3 Rib, ribeye, bnls, heavy 17 32,152 645.00 686.00 663.02 113C 1 Chuck, semi-bnls, neck/off 3 5,733 218.50 225.80 223.20 114 1 Chuck, shoulder clod 4 35,681 189.59 214.89 201.45 114A 3 Chuck, shoulder clod, trmd 25 178,252 205.50 218.00 211.41 114D 3 Chuck, clod, top blade 3 2,502 285.00 300.00 290.52 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 34,681 325.00 366.14 325.91 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 13 109,458 300.00 327.00 313.36 116B 1 Chuck, chuck tender (IM) 19 63,311 224.00 241.00 231.36

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 20 105,524 210.00 235.00 217.24 120A 3 Brisket, point/off, bnls 5 4,852 345.00 368.00 354.83 123A 3 Short Plate, short rib 5 25,632 331.00 366.00 341.96 130 4 Chuck, short rib 14 16,737 215.00 251.00 239.16 160 1 Round, bone-in 4 18,643 205.00 222.00 213.38 161 1 Round, boneless 6 5,717 219.00 224.00 223.51

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 23 75,863 237.50 254.00 243.17 168 1 Round, top inside round 17 80,906 200.00 214.89 201.92 168 3 Round, top inside round 29 317,422 209.26 222.00 215.87 169 5 Round, top inside, denuded 8 29,128 243.00 261.69 255.14

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 9,705 211.00 225.99 215.64 171B 3 Round, outside round 11 35,473 239.00 260.00 249.46 171C 3 Round, eye of round (IM) 18 43,962 240.00 279.60 262.59 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 3,052 495.00 521.64 499.60 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 5 6,604 427.00 446.00 427.20 180 3 Loin, strip, bnls, 0x1 19 48,800 485.00 524.50 511.97 184 1 Loin, top butt, bnls, heavy 7 5,875 295.00 315.00 296.53 184 3 Loin, top butt, boneless 15 16,012 310.00 326.64 317.81 185A 4 Loin, bottom sirloin, flap 16 34,547 320.00 356.00 344.31 185B 1 Loin, ball-tip, bnls, heavy 12 43,626 230.00 245.00 234.46 185C 1 Loin, sirloin, tri-tip (IM) 4 5,715 240.00 280.00 257.12 185D 4 Loin, tri-tip, pld (IM) 7 19,946 351.00 361.00 355.58 189A 4 Loin, tndrloin, trmd, heavy 7 81,545 970.00 1003.00 973.95 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 6 2,898 466.00 507.00 477.41 ------------------------------------------------------------------------------- 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 12 57,104 463.00 489.00 474.41 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 12 8,792 522.50 561.00 535.84 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 4 40,309 199.58 205.45 203.30 114A 3 Chuck, shoulder clod, trmd 8 25,125 204.00 215.00 211.57 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 23 72,297 254.00 280.00 271.77 116B 1 Chuck, chuck tender (IM) 7 14,653 215.33 235.00 223.83

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 13 114,215 204.00 226.00 210.22 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 13,517 272.17 351.00 312.88 130 4 Chuck, short rib 4 4,481 230.00 245.00 238.66 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 11 15,179 228.84 245.55 236.85 168 1 Round, top inside round 9 46,082 199.00 209.00 202.40 168 3 Round, top inside round 15 60,210 209.50 220.00 213.66 169 5 Round, top inside, denuded 4 2,712 243.00 252.00 250.51

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 4,825 204.79 220.00 214.55 171B 3 Round, outside round 16 39,073 229.00 246.00 236.57 171C 3 Round, eye of round (IM) 17 73,025 225.71 250.00 232.75 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 8 4,006 416.50 432.00 424.45 175 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 32 287,438 350.00 415.00 370.60 184 1 Loin, top butt, bnls, heavy 3 5,101 252.80 269.58 259.21 184 3 Loin, top butt, boneless 9 11,235 263.52 282.00 274.43 185A 4 Loin, bottom sirloin, flap 6 15,668 322.50 351.00 343.23 185B 1 Loin, ball-tip, bnls, heavy 6 11,028 225.38 243.44 238.15 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 4 2,899 859.00 896.00 865.11 191A 4 Loin, butt tender, trimmed 0 0 193 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 6 10,191 104.00 120.00 108.13 121D 4 Plate, Inside Skirt (IM) 17 59,711 320.00 360.00 335.78 121C 4 Plate, Outside Skirt (IM) 15 34,047 475.01 556.50 503.79 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 15 34,798 235.00 270.00 251.05

Pectoral Meat 15 12,256 232.00 270.00 245.96 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 19 262,138 144.33 161.00 154.36 Ground Beef 75% Ground Beef 81% 23 110,233 161.00 200.20 179.03 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 7 41,681 235.81 267.50 236.87 Ground Beef Chuck 80% 5 58,784 180.00 192.15 186.09 Ground Beef Round 85% 4 1,295 200.00 218.33 216.16 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% 5 54,000 187.40 204.10 191.69 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% 0 0 Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 12 298,097 50.00 58.00 53.57 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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