USDA Boxed Beef Cutout Closing Prices for October 15

October 15 (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: 193.96 178.89 Change from prior day: 2.29 1.85 ------------------------------------------------------------------------------- Choice/Select spread: 15.06

Total Load Count (Cuts, Trimmings, Grids): 152 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 288.54 242.48 Primal Chuck 170.71 161.70 Primal Round 175.18 170.45 Primal Loin 247.45 218.13 Primal Brisket 137.55 135.46 Primal Short Plate 123.50 128.63 Primal Flank 102.50 97.03 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/12 66 55 7 21 150 191.67 177.04 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.15 177.00 -------------------------------------------------------------------------------- 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 64.07 loads 2,562,620 pounds Select Cuts 50.63 loads 2,025,161 pounds Trimmings 13.37 loads 534,841 pounds Ground Beef 23.45 load 938,054 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 31 191,397 590.00 626.50 602.06 112A 3 Rib, ribeye, bnls, light 11 85,849 655.00 736.50 683.22 112A 3 Rib, ribeye, bnls, heavy 23 100,341 619.00 687.23 634.48 113C 1 Chuck, semi-bnls, neck/off 3 1,380 217.00 235.00 229.37 114 1 Chuck, shoulder clod 9 21,517 190.00 212.54 206.72 114A 3 Chuck, shoulder clod, trmd 16 61,260 204.00 226.33 214.98 114D 3 Chuck, clod, top blade 7 8,217 280.00 288.00 281.81 114E 3 Chuck, clod, arm roast 13 59,364 234.40 290.00 247.61 114F 5 Chuck, clod tender (IM) 8 7,569 325.00 375.00 334.63 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 17 52,813 300.00 331.50 317.09 116B 1 Chuck, chuck tender (IM) 14 41,298 223.00 240.00 230.77

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 26 111,750 209.00 235.00 217.19 120A 3 Brisket, point/off, bnls 10 17,735 355.60 387.00 360.96 123A 3 Short Plate, short rib 13 34,594 305.00 367.00 352.29 130 4 Chuck, short rib 28 94,342 184.20 260.00 217.79 160 1 Round, bone-in 161 1 Round, boneless 3 3,069 219.00 220.50 220.40

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 44 246,427 230.00 255.21 244.15 168 1 Round, top inside round 20 77,023 200.00 221.00 203.10 168 3 Round, top inside round 23 134,034 210.00 238.00 218.04 169 5 Round, top inside, denuded 21 101,063 239.00 260.00 248.03

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 3,579 216.00 221.00 218.13 171B 3 Round, outside round 18 130,219 233.50 265.82 254.23 171C 3 Round, eye of round (IM) 26 103,981 257.27 276.75 270.53 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 160,368 474.00 512.00 492.74 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 9 8,110 427.00 443.00 427.83 180 3 Loin, strip, bnls, 0x1 43 110,800 482.00 537.37 496.89 184 1 Loin, top butt, bnls, heavy 7 8,495 295.00 311.50 300.71 184 3 Loin, top butt, boneless 38 246,457 303.00 337.65 313.63 185A 4 Loin, bottom sirloin, flap 15 27,196 330.00 360.00 340.63 185B 1 Loin, ball-tip, bnls, heavy 10 29,035 224.50 256.37 231.14 185C 1 Loin, sirloin, tri-tip (IM) 6 4,467 250.00 281.37 278.47 185D 4 Loin, tri-tip, pld (IM) 5 9,073 339.00 370.00 348.55 189A 4 Loin, tndrloin, trmd, heavy 30 54,951 970.00 1111.00 1010.88 191A 4 Loin, butt tender, trimmed 6 7,210 969.60 1000.00 970.80 193 4 Flank, flank steak (IM) 17 49,047 410.00 505.00 439.89 ------------------------------------------------------------------------------- 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 14 124,014 450.00 499.00 460.52 112A 3 Rib, ribeye, bnls, light 5 22,253 504.00 550.00 516.29 112A 3 Rib, ribeye, bnls, heavy 22 58,723 475.47 544.99 510.78 113C 1 Chuck, semi-bnls, neck/off 5 29,149 211.00 226.50 214.73 114 1 Chuck, shoulder clod 6 122,640 189.00 206.00 200.35 114A 3 Chuck, shoulder clod, trmd 21 168,736 207.00 217.58 211.42 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 14,493 275.00 325.00 296.90 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 88,585 256.00 288.60 268.33 116B 1 Chuck, chuck tender (IM) 6 26,203 226.00 233.75 228.30

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 16 112,321 205.00 225.00 215.19 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 7 12,788 270.71 310.00 290.79 130 4 Chuck, short rib 24 76,443 184.20 260.00 205.57 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 18 52,549 231.00 253.59 244.17 168 1 Round, top inside round 12 75,511 202.00 211.45 205.05 168 3 Round, top inside round 19 106,350 203.21 220.00 211.79 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 18 97,094 227.98 259.00 241.76 171C 3 Round, eye of round (IM) 16 36,590 233.45 255.00 240.21 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 30,896 416.00 440.00 423.02 175 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 24 117,146 370.45 418.00 397.97 184 1 Loin, top butt, bnls, heavy 5 37,534 250.51 264.00 257.81 184 3 Loin, top butt, boneless 13 92,547 253.20 285.00 267.17 185A 4 Loin, bottom sirloin, flap 6 7,601 324.00 366.50 335.23 185B 1 Loin, ball-tip, bnls, heavy 7 35,398 226.00 241.00 235.54 185C 1 Loin, sirloin, tri-tip (IM) 4 4,329 250.00 270.00 268.71 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 21,401 846.36 942.37 893.08 191A 4 Loin, butt tender, trimmed 4 2,777 850.00 902.80 872.19 193 4 Flank, flank steak (IM) 7 25,891 395.00 460.00 419.32 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 4,588 105.05 132.00 106.43 121D 4 Plate, Inside Skirt (IM) 27 144,335 325.00 361.00 334.15 121C 4 Plate, Outside Skirt (IM) 13 19,884 513.00 556.50 530.41 121E 6 Outside Skirt, pld (IM) 8 19,049 840.00 910.00 876.80

Cap, Wedge Meat & (IM) Lean 35 128,639 242.00 280.00 254.29

Pectoral Meat 19 97,935 247.58 285.30 257.88 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 28 419,607 144.21 165.00 154.51 Ground Beef 75% 0 0 Ground Beef 81% 25 68,549 181.00 208.00 186.59 Ground Beef 85% Ground Beef 90% Ground Beef 93% 11 56,239 240.00 254.87 244.39 Ground Beef Chuck 80% 21 129,834 183.80 193.00 188.47 Ground Beef Round 85% 14 65,404 208.49 222.00 217.74 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% 5 29,645 187.51 195.25 191.76 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 25 534,841 51.50 58.50 54.83 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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