USDA Boxed Beef Cutout Closing Prices for November 9

November 9 (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: 191.87 173.56 Change from prior day: (1.37) (2.39) ------------------------------------------------------------------------------- Choice/Select spread: 18.31

Total Load Count (Cuts, Trimmings, Grids): 172 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 309.21 243.10 Primal Chuck 153.58 153.29 Primal Round 167.02 162.39 Primal Loin 261.14 215.32 Primal Brisket 135.07 132.50 Primal Short Plate 125.66 128.91 Primal Flank 88.71 85.49 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/08 112 77 15 22 225 193.24 175.95 11/07 94 73 11 35 213 193.93 176.16 11/06 72 52 14 32 169 193.65 176.45 11/05 63 68 5 36 172 193.02 175.29 11/02 63 65 0 31 160 192.74 175.54 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.32 175.88 -------------------------------------------------------------------------------- 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 67.25 loads 2,689,832 pounds Select Cuts 70.41 loads 2,816,540 pounds Trimmings 6.32 loads 252,831 pounds Ground Beef 27.70 load 1,107,808 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 13 22,282 620.00 685.50 635.70 112A 3 Rib, ribeye, bnls, light 4 13,728 749.50 775.00 773.90 112A 3 Rib, ribeye, bnls, heavy 17 24,934 691.00 786.00 719.52 113C 1 Chuck, semi-bnls, neck/off 7 10,703 204.00 220.00 211.22 114 1 Chuck, shoulder clod 17 33,193 194.00 205.61 195.70 114A 3 Chuck, shoulder clod, trmd 38 234,339 198.00 215.50 206.05 114D 3 Chuck, clod, top blade 6 22,794 265.50 290.00 278.60 114E 3 Chuck, clod, arm roast 7 3,593 264.61 270.00 267.55 114F 5 Chuck, clod tender (IM) 13 31,630 295.29 366.00 306.12 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 64 706,713 222.60 261.50 236.91 116B 1 Chuck, chuck tender (IM) 13 19,474 208.00 225.00 213.40

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 35 135,909 203.00 223.95 206.68 120A 3 Brisket, point/off, bnls 7 60,479 345.00 367.00 363.45 123A 3 Short Plate, short rib 15 35,141 315.00 385.00 359.66 130 4 Chuck, short rib 25 51,559 184.20 280.00 239.49 160 1 Round, bone-in 4 11,464 197.00 205.00 200.27 161 1 Round, boneless 3 9,196 215.00 227.00 215.76

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 55 297,771 210.75 240.89 220.21 168 1 Round, top inside round 27 65,328 205.00 220.00 208.36 168 3 Round, top inside round 20 79,429 200.00 226.50 214.27 169 5 Round, top inside, denuded 4 19,185 235.88 267.65 253.24

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 6,021 195.00 220.00 204.72 171B 3 Round, outside round 34 133,230 210.00 246.00 227.34 171C 3 Round, eye of round (IM) 23 47,529 215.00 275.00 243.14 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 12,144 460.00 532.00 493.73 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 7 6,377 440.00 466.00 444.65 180 3 Loin, strip, bnls, 0x1 13 17,229 490.00 533.00 509.64 184 1 Loin, top butt, bnls, heavy 7 11,878 300.00 326.00 315.48 184 3 Loin, top butt, boneless 14 54,845 295.00 335.00 306.99 185A 4 Loin, bottom sirloin, flap 21 80,159 345.00 365.00 348.02 185B 1 Loin, ball-tip, bnls, heavy 20 53,568 218.01 247.00 227.56 185C 1 Loin, sirloin, tri-tip (IM) 11 24,384 248.00 270.00 251.90 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 20 28,275 1084.00 1276.00 1146.73 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 30 97,009 315.09 352.00 321.98 ------------------------------------------------------------------------------- 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 9 4,004 466.15 522.00 499.06 112A 3 Rib, ribeye, bnls, light 4 13,147 501.00 530.39 507.92 112A 3 Rib, ribeye, bnls, heavy 19 46,476 481.90 579.14 496.67 113C 1 Chuck, semi-bnls, neck/off 4 7,785 204.50 210.00 208.83 114 1 Chuck, shoulder clod 17 204,675 189.00 200.00 190.02 114A 3 Chuck, shoulder clod, trmd 21 186,706 200.00 210.00 203.79 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 3,279 250.00 317.50 300.91 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 39 462,161 223.70 252.00 234.00 116B 1 Chuck, chuck tender (IM) 11 34,350 195.00 220.00 206.38

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 25 271,744 190.00 221.63 199.99 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 9 13,044 300.00 355.00 336.86 130 4 Chuck, short rib 8 54,031 184.20 256.00 222.78 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 20 148,318 205.00 235.00 220.48 168 1 Round, top inside round 14 35,970 195.00 218.16 203.37 168 3 Round, top inside round 26 62,956 200.00 220.00 210.78 169 5 Round, top inside, denuded 3 1,266 239.89 259.00 246.07

3 Round, top inside, side off 170 1 Round, bottom gooseneck 8 50,744 191.04 220.00 198.41 171B 3 Round, outside round 23 63,725 211.63 240.14 222.38 171C 3 Round, eye of round (IM) 36 124,653 195.88 240.14 217.22 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 7 26,976 370.85 435.00 400.56 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 15 61,822 338.00 425.00 360.31 184 1 Loin, top butt, bnls, heavy 10 68,711 252.00 265.00 253.80 184 3 Loin, top butt, boneless 10 54,064 250.07 285.00 255.99 185A 4 Loin, bottom sirloin, flap 11 85,682 329.19 355.00 337.18 185B 1 Loin, ball-tip, bnls, heavy 10 112,642 215.01 235.00 225.32 185C 1 Loin, sirloin, tri-tip (IM) 8 22,302 243.01 262.85 252.80 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 17 42,338 838.00 916.00 865.50 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 42,985 270.88 349.14 307.63 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 3 1,954 100.00 130.00 115.15 121D 4 Plate, Inside Skirt (IM) 39 223,724 295.00 327.00 307.72 121C 4 Plate, Outside Skirt (IM) 31 220,296 449.00 511.50 463.03 121E 6 Outside Skirt, pld (IM) 5 7,011 650.00 730.00 712.42

Cap, Wedge Meat & (IM) Lean 45 168,297 242.00 265.00 248.21

Pectoral Meat 24 45,906 230.00 283.50 249.36 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 15 300,742 139.32 155.00 145.63 Ground Beef 75% Ground Beef 81% 31 244,178 177.23 208.50 186.61 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 4 26,783 249.00 274.50 250.61 Ground Beef Chuck 80% 21 149,131 184.00 199.00 189.18 Ground Beef Round 85% 7 9,732 214.00 223.00 215.49 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 95,026 189.00 199.00 197.23 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 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 12 252,831 75.00 80.00 76.90 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.

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