USDA Boxed Beef Cutout Midday Prices for November 16

November 16 (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: 192.83 172.33 Change from prior day: (0.10) (0.80) ------------------------------------------------------------------------------- Choice/Select spread: 20.51

Total Load Count (Cuts, Trimmings, Grids): 117 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 317.76 238.03 Primal Chuck 153.50 152.69 Primal Round 165.78 164.11 Primal Loin 263.25 211.76 Primal Brisket 135.82 132.10 Primal Short Plate 123.28 127.36 Primal Flank 88.29 86.10 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/15 74 64 10 47 194 192.93 173.13 11/14 104 92 4 40 240 193.22 174.30 11/13 82 86 7 19 195 193.39 174.59 11/12 60 51 7 39 157 193.30 173.71 11/09 67 70 6 28 172 191.87 173.56 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 192.94 173.86 -------------------------------------------------------------------------------- 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 42.93 loads 1,717,195 pounds Select Cuts 35.25 loads 1,410,090 pounds Trimmings 17.60 loads 703,934 pounds Ground Beef 21.61 load 864,249 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 14 58,700 661.00 707.00 683.95 112A 3 Rib, ribeye, bnls, light 5 2,463 736.00 785.00 768.90 112A 3 Rib, ribeye, bnls, heavy 33 34,136 696.00 800.00 750.50 113C 1 Chuck, semi-bnls, neck/off 4 3,696 195.00 215.00 210.71 114 1 Chuck, shoulder clod 7 11,415 186.43 203.00 198.69 114A 3 Chuck, shoulder clod, trmd 30 245,652 190.00 225.00 209.11 114D 3 Chuck, clod, top blade 10 52,500 271.00 280.00 275.21 114E 3 Chuck, clod, arm roast 4 2,121 253.30 269.20 261.18 114F 5 Chuck, clod tender (IM) 8 4,342 328.00 370.00 350.59 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 99,257 230.00 250.00 237.70 116B 1 Chuck, chuck tender (IM) 9 30,913 203.81 220.00 214.49

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 26,364 206.00 215.00 211.41 120A 3 Brisket, point/off, bnls 7 10,429 339.96 370.00 362.81 123A 3 Short Plate, short rib 15 23,444 299.75 349.00 323.21 130 4 Chuck, short rib 4 4,695 235.00 280.00 248.47 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 25 82,978 218.00 236.00 222.00 168 1 Round, top inside round 15 48,373 197.04 215.00 206.20 168 3 Round, top inside round 20 381,811 200.00 226.00 221.25 169 5 Round, top inside, denuded 5 7,122 245.00 257.00 245.74

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 21 139,139 209.55 238.00 223.09 171C 3 Round, eye of round (IM) 14 53,198 235.00 260.00 247.55 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 11,314 505.42 540.00 520.34 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 4 2,603 445.00 485.00 448.49 180 3 Loin, strip, bnls, 0x1 16 21,461 500.00 540.00 516.54 184 1 Loin, top butt, bnls, heavy 10 7,953 290.00 318.60 297.06 184 3 Loin, top butt, boneless 10 43,877 310.00 335.00 311.07 185A 4 Loin, bottom sirloin, flap 29 66,058 340.21 366.00 353.15 185B 1 Loin, ball-tip, bnls, heavy 20 117,589 219.00 245.00 231.94 185C 1 Loin, sirloin, tri-tip (IM) 8 7,727 254.98 289.00 265.70 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 11 11,607 1099.00 1240.00 1166.28 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 6 5,178 325.96 345.00 338.52 ------------------------------------------------------------------------------- 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 6 44,096 475.00 500.00 488.81 112A 3 Rib, ribeye, bnls, light 3 2,701 525.00 530.00 529.69 112A 3 Rib, ribeye, bnls, heavy 12 94,148 474.72 529.80 479.63 113C 1 Chuck, semi-bnls, neck/off 8 18,703 198.00 218.00 203.67 114 1 Chuck, shoulder clod 5 32,121 195.00 201.00 199.17 114A 3 Chuck, shoulder clod, trmd 14 84,549 195.00 214.00 207.02 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 0 0 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 13 88,608 221.00 245.61 230.44 116B 1 Chuck, chuck tender (IM) 5 2,941 200.00 210.80 209.57

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 14 117,421 200.33 212.00 203.08 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 49,957 242.34 356.00 259.40 130 4 Chuck, short rib 5 13,638 222.00 265.00 248.83 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 5 9,387 215.00 225.00 218.49 168 1 Round, top inside round 9 29,490 200.00 214.00 205.58 168 3 Round, top inside round 7 17,823 210.00 223.00 214.40 169 5 Round, top inside, denuded 3 3,443 242.00 261.35 247.54

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 11,457 199.85 220.00 201.23 171B 3 Round, outside round 15 53,789 219.85 235.00 223.06 171C 3 Round, eye of round (IM) 8 29,186 217.00 238.43 227.73 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 71,944 395.20 430.33 396.28 175 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 3 7,059 387.00 399.99 387.22 184 1 Loin, top butt, bnls, heavy 3 5,391 255.00 266.10 261.30 184 3 Loin, top butt, boneless 10 95,175 246.00 275.00 248.70 185A 4 Loin, bottom sirloin, flap 14 173,724 330.00 360.00 337.32 185B 1 Loin, ball-tip, bnls, heavy 8 30,384 210.00 230.00 219.22 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 11 128,398 790.00 878.00 802.99 191A 4 Loin, butt tender, trimmed 4 6,954 854.58 900.00 856.16 193 4 Flank, flank steak (IM) 6 11,442 309.00 348.00 328.39 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 12,977 109.00 115.00 113.17 121D 4 Plate, Inside Skirt (IM) 15 19,920 307.00 330.00 313.05 121C 4 Plate, Outside Skirt (IM) 16 19,220 446.92 496.00 465.34 121E 6 Outside Skirt, pld (IM) 0 0

Cap, Wedge Meat & (IM) Lean 25 92,259 242.24 261.00 247.19

Pectoral Meat 10 18,739 253.00 307.00 258.65 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 11 138,198 143.00 152.45 148.20 Ground Beef 75% Ground Beef 81% 24 165,235 175.30 205.00 184.47 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 9 98,435 177.00 195.00 190.19 Ground Beef Round 85% 3 2,593 220.00 235.00 231.85 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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% 7 27,056 186.27 195.98 193.76 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 30 698,404 59.00 80.00 69.91 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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