USDA Boxed Beef Cutout Midday 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 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: 194.97 180.51 Change from prior day: 1.01 1.62 ------------------------------------------------------------------------------- Choice/Select spread: 14.46

Total Load Count (Cuts, Trimmings, Grids): 104 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 290.98 242.73 Primal Chuck 171.68 163.25 Primal Round 176.39 171.78 Primal Loin 247.50 220.97 Primal Brisket 138.29 137.05 Primal Short Plate 125.18 130.23 Primal Flank 102.72 98.19 -------------------------------------------------------------------------------- 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 47.22 loads 1,888,646 pounds Select Cuts 29.75 loads 1,190,083 pounds Trimmings 10.43 loads 417,229 pounds Ground Beef 16.72 load 668,614 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 21 77,574 587.62 622.00 592.63 112A 3 Rib, ribeye, bnls, light 5 17,714 669.00 702.00 680.08 112A 3 Rib, ribeye, bnls, heavy 29 83,021 620.45 700.00 657.91 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 12 24,086 195.00 210.00 201.21 114A 3 Chuck, shoulder clod, trmd 21 166,317 201.00 223.00 206.91 114D 3 Chuck, clod, top blade 4 33,749 273.50 287.00 274.44 114E 3 Chuck, clod, arm roast 12 33,631 247.62 270.00 252.30 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 18 84,272 302.00 330.15 319.30 116B 1 Chuck, chuck tender (IM) 15 31,666 226.00 240.00 234.93

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 17 118,126 205.00 230.00 215.81 120A 3 Brisket, point/off, bnls 3 1,531 360.17 372.00 368.31 123A 3 Short Plate, short rib 16 15,348 305.00 368.00 348.79 130 4 Chuck, short rib 24 75,277 221.22 264.00 244.01 160 1 Round, bone-in 5 10,443 208.50 241.50 222.21 161 1 Round, boneless 3 6,234 218.50 225.00 219.39

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 41 114,015 231.00 259.50 242.81 168 1 Round, top inside round 14 77,706 200.00 215.00 208.30 168 3 Round, top inside round 25 131,667 209.00 230.00 221.61 169 5 Round, top inside, denuded 20 76,300 239.00 264.00 245.22

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 36 95,400 220.00 270.65 258.33 171C 3 Round, eye of round (IM) 33 49,759 245.00 284.50 261.60 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 15 72,790 477.50 506.00 480.69 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 35 131,809 483.00 527.00 496.07 184 1 Loin, top butt, bnls, heavy 5 4,712 280.00 295.00 294.62 184 3 Loin, top butt, boneless 12 43,738 307.62 326.45 309.63 185A 4 Loin, bottom sirloin, flap 22 46,300 325.00 375.00 345.72 185B 1 Loin, ball-tip, bnls, heavy 11 22,323 226.00 245.78 234.47 185C 1 Loin, sirloin, tri-tip (IM) 4 7,467 239.45 240.00 239.60 185D 4 Loin, tri-tip, pld (IM) 11 18,174 352.00 386.00 356.54 189A 4 Loin, tndrloin, trmd, heavy 23 43,030 981.00 1057.67 997.48 191A 4 Loin, butt tender, trimmed 8 3,809 964.94 1015.00 974.58 193 4 Flank, flank steak (IM) 15 10,475 477.00 490.62 480.27 ------------------------------------------------------------------------------- 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 13 53,261 465.00 498.00 476.20 112A 3 Rib, ribeye, bnls, light 5 53,774 515.00 550.00 517.25 112A 3 Rib, ribeye, bnls, heavy 19 31,162 505.00 559.90 531.44 113C 1 Chuck, semi-bnls, neck/off 10 36,831 204.75 225.00 213.11 114 1 Chuck, shoulder clod 4 13,297 202.68 210.25 203.23 114A 3 Chuck, shoulder clod, trmd 20 83,693 204.00 218.00 213.50 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 30 173,973 256.50 290.00 271.32 116B 1 Chuck, chuck tender (IM) 9 26,239 225.00 229.25 226.19

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 79,120 210.00 224.80 212.70 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 15,284 290.00 355.00 329.55 130 4 Chuck, short rib 7 3,983 225.00 262.00 243.17 160 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 17 43,167 231.00 255.60 243.78 168 1 Round, top inside round 10 16,193 197.00 212.25 206.08 168 3 Round, top inside round 15 106,134 206.63 223.00 211.08 169 5 Round, top inside, denuded 3 2,405 235.00 260.62 244.51

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 19 53,857 234.00 265.00 248.57 171C 3 Round, eye of round (IM) 17 33,131 233.00 255.25 240.26 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 18 11,921 410.00 439.00 426.74 175 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 13 9,593 369.00 421.26 393.88 184 1 Loin, top butt, bnls, heavy 3 1,597 262.00 277.00 264.30 184 3 Loin, top butt, boneless 16 60,047 250.00 285.00 258.36 185A 4 Loin, bottom sirloin, flap 11 46,042 325.00 355.00 342.58 185B 1 Loin, ball-tip, bnls, heavy 14 27,255 225.00 246.25 232.42 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 5 8,028 905.00 942.25 906.44 191A 4 Loin, butt tender, trimmed 9 12,451 847.00 875.00 869.79 193 4 Flank, flank steak (IM) 12 36,288 395.00 450.00 413.16 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 5,067 97.98 121.59 115.71 121D 4 Plate, Inside Skirt (IM) 16 44,897 326.00 352.00 335.37 121C 4 Plate, Outside Skirt (IM) 8 3,992 520.00 550.00 535.60 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 19 43,943 251.50 286.00 255.21

Pectoral Meat 10 37,709 244.22 285.00 262.75 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 11 105,883 152.00 165.80 154.55 Ground Beef 75% 0 0 Ground Beef 81% 18 126,030 180.99 203.25 190.11 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 13 91,314 239.53 252.00 248.51 Ground Beef Chuck 80% 7 85,370 187.50 198.00 190.14 Ground Beef Round 85% 3 2,035 214.00 229.90 216.72 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% 3 26,400 188.30 199.00 195.31 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 13 413,729 53.17 59.00 56.06 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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