USDA Boxed Beef Cutout Midday Prices for December 3

December 3 (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: 195.25 174.85 Change from prior day: 0.22 0.65 ------------------------------------------------------------------------------- Choice/Select spread: 20.41

Total Load Count (Cuts, Trimmings, Grids): 100 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 339.04 256.25 Primal Chuck 154.31 156.21 Primal Round 161.55 161.02 Primal Loin 264.71 210.57 Primal Brisket 134.41 131.33 Primal Short Plate 126.68 130.57 Primal Flank 95.41 91.15 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/30 66 54 21 26 167 195.03 174.20 11/29 71 62 7 33 173 196.03 174.90 11/28 84 63 8 49 204 195.73 175.73 11/27 87 60 14 34 194 195.34 174.80 11/26 58 30 12 19 119 196.11 174.03 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.65 174.73 -------------------------------------------------------------------------------- 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 44.24 loads 1,769,673 pounds Select Cuts 31.80 loads 1,271,808 pounds Trimmings 4.50 loads 179,876 pounds Ground Beef 19.27 load 770,736 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 90,482 691.00 783.00 705.99 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 8 27,966 767.00 825.00 774.66 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 5 6,123 200.00 210.00 203.23 114A 3 Chuck, shoulder clod, trmd 13 121,158 200.00 215.68 212.52 114D 3 Chuck, clod, top blade 6 14,702 275.00 285.00 280.57 114E 3 Chuck, clod, arm roast 8 17,300 248.25 278.00 261.11 114F 5 Chuck, clod tender (IM) 5 3,792 324.44 392.00 364.83 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 14 120,401 216.00 247.00 227.54 116B 1 Chuck, chuck tender (IM) 4 29,959 225.00 232.00 230.66

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 16,637 205.00 217.60 209.01 120A 3 Brisket, point/off, bnls 5 4,681 348.00 360.00 350.95 123A 3 Short Plate, short rib 9 20,170 339.55 350.00 342.30 130 4 Chuck, short rib 6 10,765 248.60 275.00 268.42 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 22 199,325 200.00 227.00 209.65 168 1 Round, top inside round 9 41,670 203.00 215.00 209.03 168 3 Round, top inside round 9 47,891 213.59 240.00 219.46 169 5 Round, top inside, denuded 16 80,142 247.50 264.00 250.88

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 2,781 187.90 198.00 195.85 171B 3 Round, outside round 10 55,367 206.00 229.50 209.67 171C 3 Round, eye of round (IM) 17 34,096 230.34 247.00 241.68 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 5 33,793 510.00 538.00 510.61 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 9 44,651 426.00 440.00 431.27 180 3 Loin, strip, bnls, 0x1 30 222,982 457.00 520.00 492.18 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 9 52,276 314.27 319.50 317.14 185A 4 Loin, bottom sirloin, flap 6 15,154 364.30 375.00 368.02 185B 1 Loin, ball-tip, bnls, heavy 16 97,234 224.00 245.00 231.45 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 3 2,407 354.00 381.88 364.59 189A 4 Loin, tndrloin, trmd, heavy 20 71,352 1167.00 1252.00 1203.65 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 10 6,976 349.00 405.00 378.22 ------------------------------------------------------------------------------- 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 4 18,648 500.14 539.59 533.45 112A 3 Rib, ribeye, bnls, light 3 2,842 500.00 575.00 514.90 112A 3 Rib, ribeye, bnls, heavy 11 21,894 500.00 570.00 516.79 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 13 151,488 192.87 215.80 197.91 114A 3 Chuck, shoulder clod, trmd 8 50,716 210.00 223.00 212.28 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 9,294 240.00 250.00 241.69 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 15 69,419 209.00 251.00 230.54 116B 1 Chuck, chuck tender (IM) 6 29,554 220.00 233.00 222.81

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 6 30,340 205.00 220.18 209.99 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 10,238 290.00 330.00 307.93 130 4 Chuck, short rib 8 10,364 215.00 265.00 245.81 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 6 36,906 200.00 222.94 204.07 168 1 Round, top inside round 5 25,974 203.74 225.18 212.12 168 3 Round, top inside round 4 15,718 210.88 230.00 214.88 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 2,744 175.00 208.00 188.37 171B 3 Round, outside round 7 67,402 205.20 230.00 209.22 171C 3 Round, eye of round (IM) 5 13,489 230.00 255.94 242.40 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 10 69,112 355.00 410.00 361.68 175 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 5 4,698 370.00 400.00 374.08 184 1 Loin, top butt, bnls, heavy 6 69,081 240.00 255.00 248.23 184 3 Loin, top butt, boneless 6 70,407 254.40 275.00 258.05 185A 4 Loin, bottom sirloin, flap 7 124,073 355.00 362.94 355.02 185B 1 Loin, ball-tip, bnls, heavy 10 88,369 207.97 226.00 220.34 185C 1 Loin, sirloin, tri-tip (IM) 3 1,695 247.49 270.00 254.56 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 6 16,769 787.40 870.00 809.11 191A 4 Loin, butt tender, trimmed 3 7,891 850.00 870.00 863.99 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 12 43,201 87.00 129.61 98.32 121D 4 Plate, Inside Skirt (IM) 21 78,712 311.30 350.00 324.73 121C 4 Plate, Outside Skirt (IM) 10 22,359 446.00 470.00 456.36 121E 6 Outside Skirt, pld (IM) 3 12,250 590.00 607.00 591.04

Cap, Wedge Meat & (IM) Lean 14 116,482 242.40 263.75 255.46

Pectoral Meat 10 20,349 225.00 277.80 256.73 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 10 216,910 138.00 150.00 143.30 Ground Beef 75% Ground Beef 81% 14 67,789 170.00 210.50 174.92 Ground Beef 85% Ground Beef 90% Ground Beef 93% Ground Beef Chuck 80% 13 181,195 170.00 191.80 174.97 Ground Beef Round 85% 8 28,649 210.00 215.60 213.20 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% 10 192,392 180.00 199.00 192.87 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 6 136,826 75.00 79.10 77.24 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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