USDA Boxed Beef Cutout Midday Prices for November 19

November 19 (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: 194.08 172.92 Change from prior day: 1.06 (0.16) ------------------------------------------------------------------------------- Choice/Select spread: 21.16

Total Load Count (Cuts, Trimmings, Grids): 139 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 326.84 240.51 Primal Chuck 155.73 153.82 Primal Round 166.10 163.97 Primal Loin 260.27 210.90 Primal Brisket 136.61 133.89 Primal Short Plate 123.93 128.08 Primal Flank 89.17 87.57 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/16 87 69 18 33 207 193.02 173.08 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.17 173.76 -------------------------------------------------------------------------------- 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 57.24 loads 2,289,622 pounds Select Cuts 55.28 loads 2,211,200 pounds Trimmings 15.55 loads 622,179 pounds Ground Beef 11.10 load 443,890 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 15 116,090 663.00 696.00 671.66 112A 3 Rib, ribeye, bnls, light 4 3,625 785.00 790.00 786.88 112A 3 Rib, ribeye, bnls, heavy 6 4,669 758.00 800.00 787.98 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 5 8,391 199.00 204.99 201.24 114A 3 Chuck, shoulder clod, trmd 23 266,700 206.00 220.20 212.07 114D 3 Chuck, clod, top blade 8 28,105 275.00 290.00 277.03 114E 3 Chuck, clod, arm roast 4 6,158 248.25 270.00 259.35 114F 5 Chuck, clod tender (IM) 8 64,887 285.00 314.00 286.41 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 23 254,736 223.45 253.00 234.68 116B 1 Chuck, chuck tender (IM) 4 9,181 211.59 233.00 226.27

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 14 118,060 206.00 221.00 211.61 120A 3 Brisket, point/off, bnls 3 6,495 350.00 364.50 355.47 123A 3 Short Plate, short rib 11 28,983 315.00 340.00 334.16 130 4 Chuck, short rib 13 30,499 220.00 275.00 262.09 160 1 Round, bone-in 3 8,514 195.25 205.00 197.87 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 23 201,546 215.00 236.00 221.14 168 1 Round, top inside round 6 29,842 204.10 216.00 212.86 168 3 Round, top inside round 13 95,669 214.00 224.46 217.67 169 5 Round, top inside, denuded 10 57,694 245.00 252.00 249.55

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 15 79,146 217.00 228.79 220.33 171C 3 Round, eye of round (IM) 13 83,059 235.00 255.00 239.62 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 5 31,268 479.04 550.00 484.42 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 9 16,835 422.00 523.00 443.75 180 3 Loin, strip, bnls, 0x1 23 85,739 485.00 525.00 503.53 184 1 Loin, top butt, bnls, heavy 10 4,643 280.00 315.00 295.37 184 3 Loin, top butt, boneless 16 96,290 310.00 330.00 314.26 185A 4 Loin, bottom sirloin, flap 26 76,909 341.00 366.00 360.68 185B 1 Loin, ball-tip, bnls, heavy 14 203,084 222.00 245.00 235.53 185C 1 Loin, sirloin, tri-tip (IM) 12 110,720 260.00 283.00 265.44 185D 4 Loin, tri-tip, pld (IM) 6 9,041 346.00 376.04 353.70 189A 4 Loin, tndrloin, trmd, heavy 19 51,442 1148.50 1225.00 1154.73 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- 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 3 11,657 469.72 530.00 486.98 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 10 25,592 459.55 558.00 499.31 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 8 55,065 190.00 211.00 201.77 114A 3 Chuck, shoulder clod, trmd 9 177,614 207.00 212.00 209.78 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 19,706 240.00 310.00 246.46 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 32 936,768 225.74 255.58 230.12 116B 1 Chuck, chuck tender (IM) 6 7,802 205.00 220.00 210.41

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 6 45,476 204.00 220.00 208.30 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 3,178 315.00 320.00 315.68 130 4 Chuck, short rib 6 6,630 225.00 265.00 238.23 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 14 166,497 215.00 225.40 221.94 168 1 Round, top inside round 6 8,923 200.00 216.00 203.01 168 3 Round, top inside round 4 41,699 212.12 220.00 214.68 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 7 21,975 208.00 225.00 213.20 171C 3 Round, eye of round (IM) 7 7,271 223.00 245.00 240.43 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 13 26,437 362.36 430.58 386.19 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 3 24,637 360.00 391.00 362.09 184 1 Loin, top butt, bnls, heavy 5 4,406 250.00 255.00 252.81 184 3 Loin, top butt, boneless 6 3,401 264.25 280.00 267.50 185A 4 Loin, bottom sirloin, flap 8 89,984 340.00 360.00 345.96 185B 1 Loin, ball-tip, bnls, heavy 4 9,232 221.00 230.00 224.49 185C 1 Loin, sirloin, tri-tip (IM) 6 45,756 245.00 260.00 253.39 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 3 2,999 830.00 857.00 837.65 191A 4 Loin, butt tender, trimmed 5 3,789 864.63 875.00 871.21 193 4 Flank, flank steak (IM) 3 2,388 335.00 355.00 347.40 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 30,937 85.00 115.00 87.58 121D 4 Plate, Inside Skirt (IM) 16 24,879 299.00 324.75 312.45 121C 4 Plate, Outside Skirt (IM) 8 13,215 451.74 471.00 455.73 121E 6 Outside Skirt, pld (IM) 7 14,987 620.00 680.00 640.15

Cap, Wedge Meat & (IM) Lean 25 306,231 245.00 264.20 249.01

Pectoral Meat 14 55,227 235.00 290.00 241.65 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 5 57,208 147.00 156.00 152.03 Ground Beef 75% Ground Beef 81% 10 46,748 175.00 196.50 182.41 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 6 13,392 245.00 258.50 247.22 Ground Beef Chuck 80% 11 132,202 177.98 203.25 190.13 Ground Beef Round 85% 6 29,493 215.00 222.00 217.08 Ground Beef Sirloin 90% ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% Blended Ground Beef 75% Blended Ground Beef 81% 7 82,240 189.00 199.00 197.57 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 25 622,179 67.65 80.00 72.30 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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