USDA Boxed Beef Cutout Closing Prices for October 29

October 29 (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: 197.50 179.08 Change from prior day: 0.68 (0.62) ------------------------------------------------------------------------------- Choice/Select spread: 18.42

Total Load Count (Cuts, Trimmings, Grids): 151 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 306.41 238.70 Primal Chuck 166.85 160.40 Primal Round 178.81 171.04 Primal Loin 257.49 222.77 Primal Brisket 137.71 135.68 Primal Short Plate 124.97 128.92 Primal Flank 90.76 92.55 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/26 43 65 0 26 134 196.82 179.70 10/25 51 45 17 37 151 199.37 182.55 10/24 68 73 14 34 189 199.38 183.92 10/23 53 57 13 40 163 198.52 183.34 10/22 51 61 25 24 160 198.35 181.53 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 198.49 182.21 -------------------------------------------------------------------------------- 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 61.43 loads 2,457,143 pounds Select Cuts 47.82 loads 1,912,633 pounds Trimmings 13.65 loads 546,114 pounds Ground Beef 28.27 load 1,130,743 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 48 260,998 610.00 694.50 637.82 112A 3 Rib, ribeye, bnls, light 9 22,129 690.00 796.00 770.56 112A 3 Rib, ribeye, bnls, heavy 27 82,284 670.00 741.00 676.18 113C 1 Chuck, semi-bnls, neck/off 6 47,461 210.00 240.00 215.58 114 1 Chuck, shoulder clod 6 33,068 198.00 208.31 207.04 114A 3 Chuck, shoulder clod, trmd 17 102,256 204.07 221.26 214.04 114D 3 Chuck, clod, top blade 4 2,351 275.00 277.00 275.95 114E 3 Chuck, clod, arm roast 15 34,473 248.65 280.00 259.94 114F 5 Chuck, clod tender (IM) 13 7,838 325.00 392.00 359.23 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 97,844 278.00 325.60 302.87 116B 1 Chuck, chuck tender (IM) 13 16,797 207.00 230.00 218.02

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 25 61,447 208.29 235.00 216.74 120A 3 Brisket, point/off, bnls 13 19,266 360.00 396.00 371.37 123A 3 Short Plate, short rib 28 62,934 258.34 372.00 331.76 130 4 Chuck, short rib 18 28,331 233.00 265.00 253.18 160 1 Round, bone-in 5 2,440 213.00 232.00 218.35 161 1 Round, boneless 4 12,213 220.00 225.00 223.25

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 48 114,540 235.00 260.00 247.76 168 1 Round, top inside round 12 39,833 209.00 227.00 221.00 168 3 Round, top inside round 15 100,323 218.00 233.00 223.69 169 5 Round, top inside, denuded 26 110,862 250.00 263.60 259.47

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 5,182 216.00 229.00 219.53 171B 3 Round, outside round 44 180,251 240.00 283.60 260.04 171C 3 Round, eye of round (IM) 39 108,932 253.10 282.60 269.67 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 21 154,442 480.00 526.00 508.39 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 7 6,753 442.00 497.00 445.53 180 3 Loin, strip, bnls, 0x1 43 121,495 500.00 541.50 517.54 184 1 Loin, top butt, bnls, heavy 4 2,545 294.62 320.00 303.01 184 3 Loin, top butt, boneless 27 163,816 310.00 335.00 320.33 185A 4 Loin, bottom sirloin, flap 10 28,033 355.00 374.00 363.22 185B 1 Loin, ball-tip, bnls, heavy 9 32,569 235.84 245.00 239.78 185C 1 Loin, sirloin, tri-tip (IM) 8 16,428 248.01 280.00 255.85 185D 4 Loin, tri-tip, pld (IM) 15 33,019 333.50 380.00 363.91 189A 4 Loin, tndrloin, trmd, heavy 31 63,232 1019.00 1186.00 1077.74 191A 4 Loin, butt tender, trimmed 4 3,305 1048.00 1125.00 1085.22 193 4 Flank, flank steak (IM) 22 20,392 320.00 405.00 350.08 ------------------------------------------------------------------------------- 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 15 21,685 459.20 502.34 478.96 112A 3 Rib, ribeye, bnls, light 9 53,953 495.00 567.00 499.26 112A 3 Rib, ribeye, bnls, heavy 24 68,586 510.00 560.39 521.68 113C 1 Chuck, semi-bnls, neck/off 5 48,600 207.00 217.00 211.05 114 1 Chuck, shoulder clod 3 2,907 203.34 215.15 206.97 114A 3 Chuck, shoulder clod, trmd 12 106,736 202.00 223.50 212.58 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 7,645 260.00 325.15 293.47 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 20 112,127 245.00 278.60 262.23 116B 1 Chuck, chuck tender (IM) 8 12,324 208.00 235.00 218.39

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 115,457 207.50 225.00 211.87 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 8,612 300.00 356.00 338.38 130 4 Chuck, short rib 8 11,396 184.20 265.00 231.80 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 12 42,769 233.20 257.00 239.56 168 1 Round, top inside round 8 10,250 208.28 218.00 211.99 168 3 Round, top inside round 16 99,855 212.00 227.00 214.65 169 5 Round, top inside, denuded 3 3,909 243.00 257.00 255.00

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 9 72,390 234.00 273.00 243.76 171C 3 Round, eye of round (IM) 10 59,656 220.00 255.00 230.23 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 99,073 380.00 435.00 416.16 175 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 50,390 358.00 423.00 386.32 184 1 Loin, top butt, bnls, heavy 3 4,265 258.00 260.00 258.09 184 3 Loin, top butt, boneless 20 159,368 252.22 284.00 266.47 185A 4 Loin, bottom sirloin, flap 6 41,916 328.00 353.71 333.71 185B 1 Loin, ball-tip, bnls, heavy 8 16,558 213.46 241.00 221.90 185C 1 Loin, sirloin, tri-tip (IM) 8 44,336 243.01 272.50 246.13 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 13 18,504 901.00 965.00 920.43 191A 4 Loin, butt tender, trimmed 8 3,967 875.00 913.00 887.37 193 4 Flank, flank steak (IM) 13 38,756 342.00 417.00 365.49 ------------------------------------------------------------------------------- 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) 34 250,926 308.00 340.00 314.69 121C 4 Plate, Outside Skirt (IM) 13 29,069 493.66 540.00 509.72 121E 6 Outside Skirt, pld (IM) 7 20,270 740.60 800.00 755.73

Cap, Wedge Meat & (IM) Lean 45 365,065 239.00 284.00 255.73

Pectoral Meat 17 61,455 234.00 284.71 264.61 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 19 329,526 137.50 165.00 145.34 Ground Beef 75% Ground Beef 81% 26 75,459 176.00 218.50 187.54 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 9 35,077 243.75 267.00 246.15 Ground Beef Chuck 80% 12 51,747 185.00 219.75 194.70 Ground Beef Round 85% 12 137,279 213.00 235.00 220.29 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% 19 279,186 190.93 202.45 197.22 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 17 546,114 64.50 73.00 69.17 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.