USDA Boxed Beef Cutout Closing Prices for November 13

November 13 (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: 193.39 174.59 Change from prior day: 0.09 0.88 ------------------------------------------------------------------------------- Choice/Select spread: 18.79

Total Load Count (Cuts, Trimmings, Grids): 195 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 319.67 243.78 Primal Chuck 157.66 156.67 Primal Round 164.58 161.66 Primal Loin 259.48 215.22 Primal Brisket 134.88 132.74 Primal Short Plate 126.10 129.61 Primal Flank 88.96 87.86 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/12 60 51 7 39 157 193.30 173.71 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.20 175.17 -------------------------------------------------------------------------------- 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 82.18 loads 3,287,279 pounds Select Cuts 86.16 loads 3,446,573 pounds Trimmings 7.40 loads 295,851 pounds Ground Beef 18.77 load 750,998 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 23 52,542 646.00 689.00 660.52 112A 3 Rib, ribeye, bnls, light 11 56,224 733.00 765.63 748.99 112A 3 Rib, ribeye, bnls, heavy 21 17,058 696.00 765.00 735.66 113C 1 Chuck, semi-bnls, neck/off 12 137,691 192.00 211.00 194.42 114 1 Chuck, shoulder clod 18 60,422 187.11 201.00 194.73 114A 3 Chuck, shoulder clod, trmd 31 196,150 197.00 231.00 207.33 114D 3 Chuck, clod, top blade 9 6,790 242.00 284.00 271.47 114E 3 Chuck, clod, arm roast 10 13,852 242.00 266.00 251.58 114F 5 Chuck, clod tender (IM) 20 75,571 308.00 345.00 311.44 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 44 254,041 221.30 257.60 236.98 116B 1 Chuck, chuck tender (IM) 27 45,409 200.90 225.00 214.18

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 25 76,085 203.00 222.00 208.22 120A 3 Brisket, point/off, bnls 8 14,630 344.00 389.00 358.71 123A 3 Short Plate, short rib 15 24,271 300.00 363.00 338.70 130 4 Chuck, short rib 20 44,791 250.00 280.50 260.33 160 1 Round, bone-in 10 17,729 200.00 234.50 224.03 161 1 Round, boneless 6 7,245 208.25 227.50 212.50

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 51 162,636 218.00 243.00 224.31 168 1 Round, top inside round 29 228,829 199.00 219.00 201.37 168 3 Round, top inside round 32 240,084 202.00 226.00 213.52 169 5 Round, top inside, denuded 25 82,004 245.00 259.71 251.90

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 8 4,200 196.00 217.00 208.11 171B 3 Round, outside round 34 174,987 210.00 249.00 219.46 171C 3 Round, eye of round (IM) 49 197,463 221.74 265.00 241.01 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 23 58,193 484.26 545.00 499.24 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 45 103,359 481.00 540.00 494.71 184 1 Loin, top butt, bnls, heavy 8 4,657 280.00 322.29 307.47 184 3 Loin, top butt, boneless 37 255,930 300.00 330.83 304.81 185A 4 Loin, bottom sirloin, flap 30 127,370 330.00 363.00 346.30 185B 1 Loin, ball-tip, bnls, heavy 11 48,480 222.00 258.00 227.53 185C 1 Loin, sirloin, tri-tip (IM) 12 87,089 245.00 265.00 250.86 185D 4 Loin, tri-tip, pld (IM) 12 17,804 354.55 370.00 360.14 189A 4 Loin, tndrloin, trmd, heavy 21 62,198 1114.00 1284.00 1129.70 191A 4 Loin, butt tender, trimmed 9 9,075 1080.60 1197.49 1089.64 193 4 Flank, flank steak (IM) 35 80,214 301.00 344.50 323.48 ------------------------------------------------------------------------------- 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 25 148,828 444.63 509.00 459.67 112A 3 Rib, ribeye, bnls, light 5 61,099 501.20 561.00 505.17 112A 3 Rib, ribeye, bnls, heavy 24 32,009 478.62 552.00 504.73 113C 1 Chuck, semi-bnls, neck/off 19 38,215 191.00 225.00 198.14 114 1 Chuck, shoulder clod 15 174,864 187.11 203.25 191.56 114A 3 Chuck, shoulder clod, trmd 24 178,955 200.00 212.25 203.53 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 1,566 250.00 282.00 270.58 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 34 315,799 227.00 250.25 232.81 116B 1 Chuck, chuck tender (IM) 15 26,996 203.86 220.00 212.23

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 17 151,299 200.00 225.00 208.21 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 2,041 300.00 326.85 322.66 130 4 Chuck, short rib 16 88,335 225.00 265.00 252.72 160 1 Round, bone-in 161 1 Round, boneless 3 4,014 205.17 227.50 213.98

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 30 193,853 215.00 256.50 219.85 168 1 Round, top inside round 19 111,152 195.00 212.80 203.63 168 3 Round, top inside round 31 233,525 200.00 218.00 208.69 169 5 Round, top inside, denuded 9 49,443 234.00 259.22 242.38

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 4,904 187.00 211.00 191.38 171B 3 Round, outside round 26 212,707 210.00 240.00 216.09 171C 3 Round, eye of round (IM) 27 77,016 215.00 246.00 225.21 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 25 53,238 379.63 440.00 401.54 175 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 42 222,824 342.00 417.25 374.98 184 1 Loin, top butt, bnls, heavy 6 40,574 235.00 267.00 246.03 184 3 Loin, top butt, boneless 22 65,546 250.00 277.25 259.52 185A 4 Loin, bottom sirloin, flap 15 119,023 332.00 354.00 336.54 185B 1 Loin, ball-tip, bnls, heavy 23 168,748 215.00 251.25 225.44 185C 1 Loin, sirloin, tri-tip (IM) 15 70,798 245.00 271.25 248.12 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 20 167,335 824.00 907.25 833.02 191A 4 Loin, butt tender, trimmed 7 1,456 875.00 954.00 884.05 193 4 Flank, flank steak (IM) 18 65,513 307.00 340.00 318.73 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 6,374 94.61 109.00 95.77 121D 4 Plate, Inside Skirt (IM) 29 74,753 302.00 332.00 307.44 121C 4 Plate, Outside Skirt (IM) 17 17,944 450.03 485.00 470.48 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 41 217,295 242.00 264.20 249.55

Pectoral Meat 33 42,619 247.00 290.00 261.86 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 19 188,532 145.00 164.71 156.13 Ground Beef 75% 0 0 Ground Beef 81% 23 134,616 180.00 210.25 197.01 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 23 93,146 243.78 273.25 253.88 Ground Beef Chuck 80% 6 92,137 185.75 196.00 188.34 Ground Beef Round 85% 13 29,013 206.00 224.00 212.99 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 27,480 186.27 211.00 193.65 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% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 12 245,101 75.00 81.00 77.97 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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