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USDA Boxed Beef Cutout Closing Prices for December 28

December 28 (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: 193.49 180.29 Change from prior day: (0.77) 0.80 ------------------------------------------------------------------------------- Choice/Select spread: 13.19

Total Load Count (Cuts, Trimmings, Grids): 172 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 271.40 239.09 Primal Chuck 162.98 165.19 Primal Round 174.59 172.83 Primal Loin 265.24 217.61 Primal Brisket 133.52 136.37 Primal Short Plate 128.63 133.42 Primal Flank 100.96 95.27 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 12/27 93 65 18 41 217 194.26 179.49 12/26 137 69 32 54 292 194.24 179.19 12/21 64 50 6 27 146 193.09 177.79 12/20 72 47 17 26 163 192.06 176.70 12/19 107 67 10 57 241 193.55 176.45 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.44 177.92 -------------------------------------------------------------------------------- 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 94.78 loads 3,791,215 pounds Select Cuts 53.70 loads 2,148,178 pounds Trimmings 8.10 loads 323,882 pounds Ground Beef 15.49 load 619,735 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 29 158,948 491.00 603.00 517.46 112A 3 Rib, ribeye, bnls, light 14 93,227 560.00 666.00 591.42 112A 3 Rib, ribeye, bnls, heavy 52 230,917 560.00 670.00 591.48 113C 1 Chuck, semi-bnls, neck/off 6 9,495 210.00 216.00 211.82 114 1 Chuck, shoulder clod 17 148,082 198.74 216.00 206.46 114A 3 Chuck, shoulder clod, trmd 43 177,994 203.34 238.00 218.10 114D 3 Chuck, clod, top blade 6 23,452 270.10 293.01 275.62 114E 3 Chuck, clod, arm roast 6 14,465 249.54 253.60 251.87 114F 5 Chuck, clod tender (IM) 7 3,567 300.00 340.00 309.40 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 46 284,168 221.00 260.60 241.49 116B 1 Chuck, chuck tender (IM) 18 45,180 218.00 239.00 225.24

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 46 384,627 193.88 226.00 203.23 120A 3 Brisket, point/off, bnls 12 27,343 350.60 377.00 358.30 123A 3 Short Plate, short rib 12 18,291 300.00 386.00 347.97 130 4 Chuck, short rib 26 59,920 214.20 277.00 247.24 160 1 Round, bone-in 4 16,118 210.00 227.00 212.22 161 1 Round, boneless 3 4,699 220.50 227.00 224.89

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 42 102,577 217.94 251.48 233.85 168 1 Round, top inside round 24 130,425 213.39 228.00 223.16 168 3 Round, top inside round 16 141,828 221.00 244.50 228.38 169 5 Round, top inside, denuded 18 54,785 260.00 277.00 263.49

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 12,884 202.33 230.00 218.90 171B 3 Round, outside round 39 198,660 210.88 254.60 231.31 171C 3 Round, eye of round (IM) 32 65,280 230.00 271.00 252.97 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 15 112,251 497.40 541.00 507.02 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 12 53,811 437.40 472.00 441.69 180 3 Loin, strip, bnls, 0x1 50 205,539 479.53 527.00 496.31 184 1 Loin, top butt, bnls, heavy 6 5,099 308.64 329.50 318.36 184 3 Loin, top butt, boneless 35 200,514 315.00 366.00 331.75 185A 4 Loin, bottom sirloin, flap 23 56,275 378.27 406.00 389.06 185B 1 Loin, ball-tip, bnls, heavy 35 365,240 219.25 247.50 235.22 185C 1 Loin, sirloin, tri-tip (IM) 10 29,474 293.97 306.00 298.25 185D 4 Loin, tri-tip, pld (IM) 8 13,341 395.00 426.00 412.53 189A 4 Loin, tndrloin, trmd, heavy 40 103,563 1045.00 1208.00 1131.34 191A 4 Loin, butt tender, trimmed 8 31,083 1028.66 1125.00 1041.76 193 4 Flank, flank steak (IM) 19 15,958 395.00 451.00 421.09 ------------------------------------------------------------------------------- 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 13 57,262 430.31 501.78 441.22 112A 3 Rib, ribeye, bnls, light 22 310,186 485.00 530.00 511.44 112A 3 Rib, ribeye, bnls, heavy 34 129,814 485.00 537.00 498.39 113C 1 Chuck, semi-bnls, neck/off 8 27,231 210.00 216.00 212.11 114 1 Chuck, shoulder clod 6 37,088 207.07 215.00 208.39 114A 3 Chuck, shoulder clod, trmd 9 61,622 213.05 236.00 220.08 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 9 21,141 260.00 265.00 264.75 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 28 121,591 229.24 256.00 242.00 116B 1 Chuck, chuck tender (IM) 13 47,509 219.37 240.50 225.15

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 13 109,356 196.74 212.54 209.67 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 8 13,673 248.34 375.00 313.06 130 4 Chuck, short rib 22 64,753 214.20 280.00 225.00 160 1 Round, bone-in 161 1 Round, boneless 4 4,415 220.50 227.00 223.04

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 20 112,621 222.59 245.00 231.98 168 1 Round, top inside round 6 37,658 212.39 233.50 216.44 168 3 Round, top inside round 7 20,741 221.00 245.00 226.85 169 5 Round, top inside, denuded 5 7,873 218.00 273.00 245.88

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 16 98,529 211.62 245.00 225.06 171C 3 Round, eye of round (IM) 17 31,041 234.74 260.00 244.41 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 15 24,595 394.99 425.00 403.76 175 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 20 111,208 379.21 415.00 392.15 184 1 Loin, top butt, bnls, heavy 3 2,042 259.00 264.50 262.04 184 3 Loin, top butt, boneless 17 46,479 255.00 289.37 276.23 185A 4 Loin, bottom sirloin, flap 6 12,481 337.00 385.00 367.05 185B 1 Loin, ball-tip, bnls, heavy 14 47,390 209.25 241.00 225.09 185C 1 Loin, sirloin, tri-tip (IM) 5 9,268 253.00 282.80 267.93 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 21 184,978 808.95 840.00 823.24 191A 4 Loin, butt tender, trimmed 5 13,748 785.00 825.00 787.01 193 4 Flank, flank steak (IM) 13 50,624 363.00 405.00 373.92 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 144,361 75.86 116.00 84.29 121D 4 Plate, Inside Skirt (IM) 21 32,738 331.50 362.00 346.80 121C 4 Plate, Outside Skirt (IM) 13 33,616 410.00 487.50 453.09 121E 6 Outside Skirt, pld (IM) 7 10,411 559.75 675.00 596.51

Cap, Wedge Meat & (IM) Lean 45 144,945 237.00 270.00 255.67

Pectoral Meat 24 62,193 230.00 281.00 270.36 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 20 117,898 141.36 168.00 155.20 Ground Beef 75% Ground Beef 81% 17 63,435 192.00 226.00 209.50 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 18 56,927 251.00 273.50 271.51 Ground Beef Chuck 80% 22 55,891 189.82 231.00 221.24 Ground Beef Round 85% 13 46,206 223.00 243.00 233.89 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% 5 112,495 186.90 212.75 197.75 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% 0 0 Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 11 282,362 70.00 75.00 72.59 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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