USDA Boxed Beef Cutout Closing Prices for October 16

October 16 (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: 195.10 180.55 Change from prior day: 1.14 1.66 ------------------------------------------------------------------------------- Choice/Select spread: 14.55

Total Load Count (Cuts, Trimmings, Grids): 173 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 290.48 241.91 Primal Chuck 171.82 162.67 Primal Round 176.76 172.45 Primal Loin 247.89 221.61 Primal Brisket 137.82 137.27 Primal Short Plate 125.22 130.25 Primal Flank 102.75 98.32 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/15 64 51 13 23 152 193.96 178.89 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.83 177.49 -------------------------------------------------------------------------------- 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 68.93 loads 2,757,243 pounds Select Cuts 58.23 loads 2,329,148 pounds Trimmings 18.27 loads 730,948 pounds Ground Beef 27.88 load 1,115,164 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 28 92,349 587.62 660.00 601.03 112A 3 Rib, ribeye, bnls, light 8 24,044 669.00 736.00 691.95 112A 3 Rib, ribeye, bnls, heavy 36 129,800 619.48 700.00 646.46 113C 1 Chuck, semi-bnls, neck/off 3 27,173 220.59 245.00 225.46 114 1 Chuck, shoulder clod 18 64,362 195.00 210.00 201.54 114A 3 Chuck, shoulder clod, trmd 30 278,947 201.00 226.25 210.61 114D 3 Chuck, clod, top blade 7 37,844 265.00 287.50 274.49 114E 3 Chuck, clod, arm roast 17 43,381 247.62 270.55 253.32 114F 5 Chuck, clod tender (IM) 8 17,948 320.00 375.00 328.64 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 29 116,985 302.00 345.82 322.70 116B 1 Chuck, chuck tender (IM) 20 37,354 225.00 240.00 234.11

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 35 297,653 205.00 230.00 215.04 120A 3 Brisket, point/off, bnls 7 3,899 360.00 380.00 369.22 123A 3 Short Plate, short rib 22 24,731 305.00 368.00 347.23 130 4 Chuck, short rib 34 84,545 221.22 265.00 243.83 160 1 Round, bone-in 6 11,240 208.50 241.50 221.70 161 1 Round, boneless 4 6,488 218.50 235.00 220.00

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 58 190,786 231.00 259.50 244.66 168 1 Round, top inside round 18 79,006 200.00 215.00 208.31 168 3 Round, top inside round 35 177,873 209.00 230.00 222.08 169 5 Round, top inside, denuded 25 81,223 239.00 264.00 245.66

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 2,980 207.00 231.00 212.79 171B 3 Round, outside round 44 162,367 234.00 270.65 261.08 171C 3 Round, eye of round (IM) 43 56,524 244.88 285.00 261.66 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 102,128 477.50 506.00 482.02 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 3 5,315 459.00 469.99 460.04 180 3 Loin, strip, bnls, 0x1 48 159,615 464.00 530.45 495.64 184 1 Loin, top butt, bnls, heavy 7 4,933 280.00 295.00 293.96 184 3 Loin, top butt, boneless 18 54,360 307.62 333.00 311.17 185A 4 Loin, bottom sirloin, flap 28 55,547 325.00 376.00 347.71 185B 1 Loin, ball-tip, bnls, heavy 18 38,279 226.00 245.78 234.50 185C 1 Loin, sirloin, tri-tip (IM) 8 23,806 239.45 260.13 252.80 185D 4 Loin, tri-tip, pld (IM) 12 24,564 352.00 386.00 359.00 189A 4 Loin, tndrloin, trmd, heavy 28 47,469 981.00 1057.67 998.90 191A 4 Loin, butt tender, trimmed 10 4,206 964.94 1015.00 975.46 193 4 Flank, flank steak (IM) 19 11,792 444.00 490.62 477.15 ------------------------------------------------------------------------------- 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 20 60,106 465.00 511.45 476.66 112A 3 Rib, ribeye, bnls, light 12 161,968 504.21 589.00 514.37 112A 3 Rib, ribeye, bnls, heavy 33 102,224 505.00 559.90 527.37 113C 1 Chuck, semi-bnls, neck/off 13 46,294 204.75 225.00 213.61 114 1 Chuck, shoulder clod 7 20,726 200.99 210.25 203.13 114A 3 Chuck, shoulder clod, trmd 26 98,747 204.00 218.00 213.08 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 43 319,111 256.50 290.00 270.51 116B 1 Chuck, chuck tender (IM) 22 44,612 225.00 234.00 227.53

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 135,350 210.00 224.80 214.10 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 6 18,510 270.00 355.00 320.64 130 4 Chuck, short rib 11 20,036 225.00 262.00 250.24 160 1 Round, bone-in 161 1 Round, boneless 5 3,642 229.75 239.25 232.78

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 31 110,565 231.00 255.60 244.05 168 1 Round, top inside round 18 70,000 197.00 212.25 204.27 168 3 Round, top inside round 25 186,931 206.63 223.00 212.04 169 5 Round, top inside, denuded 5 3,957 235.00 260.62 246.18

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 33 185,804 233.69 269.00 253.45 171C 3 Round, eye of round (IM) 22 52,156 233.00 255.25 239.85 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 28 38,075 410.00 439.00 422.35 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 20 23,110 369.00 421.26 401.17 184 1 Loin, top butt, bnls, heavy 6 29,222 257.28 277.00 258.07 184 3 Loin, top butt, boneless 27 108,925 250.00 285.00 262.41 185A 4 Loin, bottom sirloin, flap 16 54,807 325.00 360.00 342.75 185B 1 Loin, ball-tip, bnls, heavy 17 38,185 225.00 246.25 232.83 185C 1 Loin, sirloin, tri-tip (IM) 8 55,643 235.00 270.00 241.13 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 9 12,318 905.00 1041.00 952.13 191A 4 Loin, butt tender, trimmed 12 15,017 847.00 900.00 867.80 193 4 Flank, flank steak (IM) 14 44,569 390.00 458.00 414.95 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 11,727 97.98 121.59 106.22 121D 4 Plate, Inside Skirt (IM) 25 59,383 326.00 360.00 336.67 121C 4 Plate, Outside Skirt (IM) 11 8,933 520.00 550.00 531.31 121E 6 Outside Skirt, pld (IM) 3 1,470 841.45 869.00 849.13

Cap, Wedge Meat & (IM) Lean 44 148,785 249.00 287.00 255.61

Pectoral Meat 22 84,899 244.22 293.00 260.18 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 26 246,993 144.04 165.80 153.59 Ground Beef 75% Ground Beef 81% 38 211,008 180.99 208.00 188.93 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 18 104,546 235.68 266.50 248.44 Ground Beef Chuck 80% 17 181,734 182.00 198.00 189.32 Ground Beef Round 85% 10 13,098 210.00 229.90 215.15 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% 8 33,420 175.50 199.00 193.42 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 26 639,198 53.17 59.00 55.99 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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