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USDA Boxed Beef Cutout Midday Prices for October 22

October 22 (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: 198.02 180.70 Change from prior day: 1.34 0.25 ------------------------------------------------------------------------------- Choice/Select spread: 17.32

Total Load Count (Cuts, Trimmings, Grids): 95 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 299.15 241.97 Primal Chuck 172.88 162.20 Primal Round 181.45 172.78 Primal Loin 251.75 223.79 Primal Brisket 138.55 136.49 Primal Short Plate 123.34 127.79 Primal Flank 98.31 97.11 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/19 60 75 20 8 164 196.68 180.45 10/18 69 56 25 17 167 196.81 180.88 10/17 70 80 21 44 214 195.71 180.75 10/16 69 58 18 28 173 195.10 180.55 10/15 64 51 13 23 152 193.96 178.89 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.65 180.31 -------------------------------------------------------------------------------- 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 35.17 loads 1,406,786 pounds Select Cuts 33.68 loads 1,347,063 pounds Trimmings 10.11 loads 404,531 pounds Ground Beef 16.33 load 653,068 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 21 175,007 603.62 663.59 614.15 112A 3 Rib, ribeye, bnls, light 3 44,448 715.00 738.00 717.96 112A 3 Rib, ribeye, bnls, heavy 9 11,730 650.00 715.39 670.24 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 0 0 114A 3 Chuck, shoulder clod, trmd 11 77,270 214.00 223.76 219.70 114D 3 Chuck, clod, top blade 3 3,656 280.00 288.40 284.21 114E 3 Chuck, clod, arm roast 9 24,266 250.00 270.00 261.46 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 4 15,423 320.00 330.00 325.76 116B 1 Chuck, chuck tender (IM) 5 8,003 228.32 230.00 229.47

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 11 39,263 205.00 230.00 217.88 120A 3 Brisket, point/off, bnls 6 5,957 339.26 385.10 353.40 123A 3 Short Plate, short rib 7 22,367 305.00 372.00 340.09 130 4 Chuck, short rib 10 23,980 225.00 265.00 241.59 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 30 118,987 233.00 259.50 245.19 168 1 Round, top inside round 7 39,097 210.00 223.00 216.90 168 3 Round, top inside round 6 53,656 220.00 227.50 227.14 169 5 Round, top inside, denuded 15 91,344 250.00 269.00 253.32

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 2,583 219.01 220.00 219.47 171B 3 Round, outside round 17 57,703 260.09 293.00 278.30 171C 3 Round, eye of round (IM) 22 49,816 255.00 280.00 264.24 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 25,917 490.00 508.00 496.17 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 9,436 430.00 430.00 430.00 180 3 Loin, strip, bnls, 0x1 21 101,023 498.62 528.00 509.50 184 1 Loin, top butt, bnls, heavy 8 9,991 300.00 321.00 302.22 184 3 Loin, top butt, boneless 22 174,951 300.00 330.25 321.88 185A 4 Loin, bottom sirloin, flap 10 17,132 324.62 360.00 346.77 185B 1 Loin, ball-tip, bnls, heavy 7 8,690 232.50 244.50 239.52 185C 1 Loin, sirloin, tri-tip (IM) 4 3,775 252.00 275.00 256.63 185D 4 Loin, tri-tip, pld (IM) 6 4,032 350.00 379.50 360.91 189A 4 Loin, tndrloin, trmd, heavy 24 63,244 975.00 1025.80 989.35 191A 4 Loin, butt tender, trimmed 4 2,821 985.50 991.00 990.84 193 4 Flank, flank steak (IM) 7 19,064 400.00 450.00 403.39 ------------------------------------------------------------------------------- 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 3 10,459 474.00 480.00 474.41 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 9 28,681 520.00 560.09 525.80 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 4 5,056 205.00 207.00 205.92 114A 3 Chuck, shoulder clod, trmd 11 149,185 206.21 225.00 214.65 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 2,800 286.50 325.00 317.89 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 17 90,418 260.00 283.60 269.78 116B 1 Chuck, chuck tender (IM) 3 45,363 210.00 226.50 211.38

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 5 14,525 210.00 226.00 214.39 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 4 3,769 233.70 250.00 236.02 168 1 Round, top inside round 15 399,702 204.13 212.00 207.90 168 3 Round, top inside round 9 212,700 209.75 219.00 212.07 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 8 32,588 242.00 267.80 252.19 171C 3 Round, eye of round (IM) 8 45,289 223.00 250.00 235.33 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 8 5,658 410.00 436.00 432.42 175 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 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 6 8,262 250.00 276.00 260.87 185A 4 Loin, bottom sirloin, flap 5 10,626 337.13 360.09 339.86 185B 1 Loin, ball-tip, bnls, heavy 3 15,478 233.00 235.01 234.46 185C 1 Loin, sirloin, tri-tip (IM) 6 93,642 243.33 250.50 246.21 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 5 10,158 886.00 915.00 896.80 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 15,077 372.91 400.39 374.46 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 6 10,198 306.00 340.00 316.05 121C 4 Plate, Outside Skirt (IM) 4 6,929 499.00 550.00 517.21 121E 6 Outside Skirt, pld (IM) 3 7,072 870.00 900.00 877.61

Cap, Wedge Meat & (IM) Lean 17 93,218 241.00 280.00 254.88

Pectoral Meat 9 10,146 243.76 285.00 257.80 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 3 48,227 162.50 171.50 163.43 Ground Beef 75% Ground Beef 81% 21 226,662 182.00 206.50 189.60 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 15 114,051 191.00 207.00 193.34 Ground Beef Round 85% 4 79,236 217.00 218.75 218.73 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% 6 90,434 195.25 204.60 198.39 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 11 403,131 58.20 65.00 60.36 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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