USDA Boxed Beef Cutout Midday Prices for October 17

October 17 (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: 195.95 180.98 Change from prior day: 0.85 0.43 ------------------------------------------------------------------------------- Choice/Select spread: 14.97

Total Load Count (Cuts, Trimmings, Grids): 136 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 291.34 241.14 Primal Chuck 171.94 162.88 Primal Round 177.84 172.75 Primal Loin 249.29 223.33 Primal Brisket 138.33 137.31 Primal Short Plate 125.56 130.40 Primal Flank 106.45 98.57 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/16 69 58 18 28 173 195.10 180.55 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 192.61 178.15 -------------------------------------------------------------------------------- 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 38.64 loads 1,545,623 pounds Select Cuts 47.24 loads 1,889,453 pounds Trimmings 18.47 loads 738,666 pounds Ground Beef 31.24 load 1,249,770 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 26,793 598.00 672.40 634.48 112A 3 Rib, ribeye, bnls, light 11 8,375 702.50 750.00 724.50 112A 3 Rib, ribeye, bnls, heavy 47 58,888 646.00 725.00 684.16 113C 1 Chuck, semi-bnls, neck/off 7 9,071 215.00 235.00 233.28 114 1 Chuck, shoulder clod 6 23,859 195.61 211.00 201.82 114A 3 Chuck, shoulder clod, trmd 23 49,586 211.00 225.00 216.41 114D 3 Chuck, clod, top blade 9 12,484 275.39 300.00 286.51 114E 3 Chuck, clod, arm roast 11 21,842 259.00 270.00 265.72 114F 5 Chuck, clod tender (IM) 8 4,011 321.00 392.00 365.61 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 75,973 305.00 331.00 325.32 116B 1 Chuck, chuck tender (IM) 17 62,057 223.00 234.00 224.65

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 43 38,106 209.00 231.00 223.26 120A 3 Brisket, point/off, bnls 14 6,787 360.00 380.00 372.54 123A 3 Short Plate, short rib 23 30,993 301.15 362.00 328.91 130 4 Chuck, short rib 33 56,149 225.00 265.00 241.68 160 1 Round, bone-in 4 7,974 205.00 222.00 215.06 161 1 Round, boneless 5 8,688 220.50 239.60 221.89

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 42 53,584 240.00 256.32 248.65 168 1 Round, top inside round 41 59,221 201.94 220.00 208.49 168 3 Round, top inside round 21 163,276 209.73 227.21 220.16 169 5 Round, top inside, denuded 22 187,528 239.00 260.10 259.20

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 21 54,799 245.00 267.00 259.24 171C 3 Round, eye of round (IM) 23 20,063 255.00 276.32 270.66 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 29 24,931 495.00 526.85 499.98 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 15 11,069 435.00 459.00 441.83 180 3 Loin, strip, bnls, 0x1 50 75,208 493.00 533.09 510.64 184 1 Loin, top butt, bnls, heavy 24 18,659 295.00 317.28 301.38 184 3 Loin, top butt, boneless 23 29,406 307.00 330.00 315.66 185A 4 Loin, bottom sirloin, flap 29 48,226 328.00 375.00 355.04 185B 1 Loin, ball-tip, bnls, heavy 35 39,239 221.00 251.89 237.45 185C 1 Loin, sirloin, tri-tip (IM) 11 49,193 233.04 276.89 244.09 185D 4 Loin, tri-tip, pld (IM) 8 15,478 344.00 371.58 363.18 189A 4 Loin, tndrloin, trmd, heavy 45 77,698 978.67 1121.00 1015.30 191A 4 Loin, butt tender, trimmed 3 1,213 1009.00 1010.00 1009.75 193 4 Flank, flank steak (IM) 10 6,845 437.61 466.00 454.13 ------------------------------------------------------------------------------- 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 16 14,845 450.00 511.32 469.59 112A 3 Rib, ribeye, bnls, light 22 139,830 510.00 600.00 516.68 112A 3 Rib, ribeye, bnls, heavy 46 91,264 510.00 563.00 525.36 113C 1 Chuck, semi-bnls, neck/off 17 47,543 208.00 225.00 214.50 114 1 Chuck, shoulder clod 8 15,973 198.00 207.00 202.88 114A 3 Chuck, shoulder clod, trmd 24 95,921 207.00 217.00 213.31 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 4,391 325.00 363.19 339.62 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 34 183,183 264.00 290.30 267.97 116B 1 Chuck, chuck tender (IM) 12 15,861 218.00 228.00 224.96

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 88,640 209.00 226.00 213.97 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 8 17,829 270.00 315.00 291.75 130 4 Chuck, short rib 19 28,720 225.00 260.00 231.26 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 26 101,949 231.00 250.00 240.88 168 1 Round, top inside round 26 44,942 201.29 211.00 204.87 168 3 Round, top inside round 23 64,322 209.00 220.00 213.82 169 5 Round, top inside, denuded 7 21,503 245.00 260.00 245.61

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 24 99,283 229.00 260.00 246.93 171C 3 Round, eye of round (IM) 23 52,455 231.00 249.00 239.18 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 33 117,357 415.32 443.00 423.78 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 24 90,783 390.00 414.00 399.70 184 1 Loin, top butt, bnls, heavy 12 13,527 250.02 266.00 257.86 184 3 Loin, top butt, boneless 27 39,274 262.00 285.00 271.14 185A 4 Loin, bottom sirloin, flap 10 95,757 339.00 360.00 358.21 185B 1 Loin, ball-tip, bnls, heavy 23 39,331 221.00 244.00 232.10 185C 1 Loin, sirloin, tri-tip (IM) 11 28,344 235.00 266.58 243.55 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 33 56,485 868.00 1082.00 919.73 191A 4 Loin, butt tender, trimmed 7 2,110 890.32 900.00 898.88 193 4 Flank, flank steak (IM) 16 25,004 383.00 461.11 413.28 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 7,884 101.89 110.00 106.06 121D 4 Plate, Inside Skirt (IM) 22 102,466 322.56 352.00 326.02 121C 4 Plate, Outside Skirt (IM) 10 23,600 515.00 541.00 530.94 121E 6 Outside Skirt, pld (IM) 8 6,949 795.00 880.00 834.58

Cap, Wedge Meat & (IM) Lean 51 78,520 247.37 293.00 259.96

Pectoral Meat 37 88,844 249.00 289.00 265.97 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 52 225,056 149.00 163.00 157.60 Ground Beef 75% Ground Beef 81% 67 411,591 178.00 198.89 188.54 Ground Beef 85% Ground Beef 90% Ground Beef 93% 32 77,445 239.68 263.28 251.71 Ground Beef Chuck 80% 39 223,805 187.00 197.00 191.56 Ground Beef Round 85% 35 134,465 213.75 222.00 219.03 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% 0 0 Blended Ground Beef 81% 4 20,600 193.30 206.70 199.78 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 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 26 671,206 52.85 64.50 58.83 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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