USDA Boxed Beef Cutout Midday Prices for November 12

November 12 (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: 193.37 173.76 Change from prior day: 1.50 0.20 ------------------------------------------------------------------------------- Choice/Select spread: 19.61

Total Load Count (Cuts, Trimmings, Grids): 101 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 317.73 239.82 Primal Chuck 155.71 153.53 Primal Round 166.01 163.28 Primal Loin 261.82 216.86 Primal Brisket 134.70 130.94 Primal Short Plate 125.65 128.92 Primal Flank 88.95 87.11 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/09 67 70 6 28 172 191.87 173.56 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.14 175.48 -------------------------------------------------------------------------------- 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 39.43 loads 1,577,117 pounds Select Cuts 26.64 loads 1,065,512 pounds Trimmings 4.98 loads 199,019 pounds Ground Beef 29.72 load 1,188,892 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 13 100,360 639.00 674.80 660.00 112A 3 Rib, ribeye, bnls, light 3 6,505 760.00 780.00 774.07 112A 3 Rib, ribeye, bnls, heavy 11 36,365 700.00 765.13 712.13 113C 1 Chuck, semi-bnls, neck/off 6 31,921 203.00 215.00 211.18 114 1 Chuck, shoulder clod 4 3,856 195.00 214.99 198.75 114A 3 Chuck, shoulder clod, trmd 8 13,259 198.95 210.00 204.27 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 18,382 313.34 360.00 322.38 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 13 38,894 232.20 253.50 241.32 116B 1 Chuck, chuck tender (IM) 8 26,101 204.50 220.00 215.01

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 15 96,451 196.00 222.80 204.65 120A 3 Brisket, point/off, bnls 5 5,713 339.02 360.00 342.13 123A 3 Short Plate, short rib 10 36,024 315.00 358.79 335.45 130 4 Chuck, short rib 8 12,598 250.00 275.00 264.79 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 19 56,173 217.10 240.23 222.29 168 1 Round, top inside round 18 84,311 200.00 222.99 206.59 168 3 Round, top inside round 6 23,291 214.00 222.00 215.85 169 5 Round, top inside, denuded 10 54,334 247.00 260.00 252.95

3 Round, top inside, side off 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 27 413,208 210.00 240.00 220.31 171C 3 Round, eye of round (IM) 10 25,382 240.00 275.00 253.74 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 3 2,561 440.00 445.00 441.30 180 3 Loin, strip, bnls, 0x1 23 127,430 489.26 508.00 502.07 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 10 35,343 310.00 324.00 312.14 185A 4 Loin, bottom sirloin, flap 11 85,616 346.00 363.00 348.97 185B 1 Loin, ball-tip, bnls, heavy 9 37,050 221.00 245.00 239.50 185C 1 Loin, sirloin, tri-tip (IM) 5 16,575 255.00 277.80 257.14 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 59,059 1072.86 1200.00 1129.81 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 6,056 315.00 340.00 319.53 ------------------------------------------------------------------------------- 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 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 4 23,942 481.90 530.00 497.67 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 7 35,910 192.00 215.18 194.94 114A 3 Chuck, shoulder clod, trmd 8 26,811 198.95 207.00 203.28 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 7,402 250.50 315.00 292.61 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 5 17,309 233.00 240.00 236.56 116B 1 Chuck, chuck tender (IM) 3 12,895 204.30 207.65 205.61

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 135,008 196.00 225.00 196.39 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 4 7,468 223.95 266.00 248.35 160 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 6 24,858 214.59 226.36 219.24 168 1 Round, top inside round 9 28,294 195.50 225.18 203.14 168 3 Round, top inside round 8 122,226 207.50 218.63 213.94 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 9 55,991 215.00 242.80 220.52 171C 3 Round, eye of round (IM) 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 5 34,352 379.50 387.00 381.16 184 1 Loin, top butt, bnls, heavy 4 41,590 238.52 261.12 249.50 184 3 Loin, top butt, boneless 4 3,815 262.50 267.00 264.81 185A 4 Loin, bottom sirloin, flap 16 189,722 325.00 342.65 330.65 185B 1 Loin, ball-tip, bnls, heavy 4 40,682 224.50 232.12 226.62 185C 1 Loin, sirloin, tri-tip (IM) 5 31,060 245.00 252.00 249.72 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 5 8,877 871.50 890.00 889.73 191A 4 Loin, butt tender, trimmed 4 7,078 863.13 888.50 872.97 193 4 Flank, flank steak (IM) 5 4,241 307.50 342.00 324.14 ------------------------------------------------------------------------------- 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) 13 31,406 302.00 340.00 310.89 121C 4 Plate, Outside Skirt (IM) 10 72,414 457.30 498.97 471.96 121E 6 Outside Skirt, pld (IM) 4 8,547 675.00 720.00 679.73

Cap, Wedge Meat & (IM) Lean 12 54,112 248.00 264.20 252.19

Pectoral Meat 12 24,889 250.52 290.00 257.94 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 33 813,882 142.50 153.00 150.38 Ground Beef 75% Ground Beef 81% 13 122,547 180.00 196.50 188.87 Ground Beef 85% Ground Beef 90% Ground Beef 93% 7 32,403 229.32 240.00 238.85 Ground Beef Chuck 80% 9 117,315 186.00 216.50 191.29 Ground Beef Round 85% 7 27,177 215.00 222.00 217.08 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% 0 0 Blended Ground Beef 81% 3 5,960 191.60 192.45 191.65 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 6 199,019 77.00 81.00 78.18 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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