USDA Boxed Beef Cutout Midday Prices for January 2

January 2 (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: 194.01 182.45 Change from prior day: (0.14) 1.40 ------------------------------------------------------------------------------- Choice/Select spread: 11.56

Total Load Count (Cuts, Trimmings, Grids): 62 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 267.83 240.25 Primal Chuck 166.47 166.78 Primal Round 175.67 174.33 Primal Loin 262.05 223.23 Primal Brisket 136.99 133.60 Primal Short Plate 130.24 134.64 Primal Flank 102.08 97.49 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 12/31 77 55 13 29 175 194.15 181.05 12/28 95 54 8 15 172 193.47 180.29 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.84 179.56 -------------------------------------------------------------------------------- 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 23.35 loads 933,801 pounds Select Cuts 22.88 loads 915,358 pounds Trimmings 0.00 loads 0 pounds Ground Beef 16.12 load 644,601 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 3 8,308 521.00 572.00 535.41 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 10 46,404 577.40 635.00 590.93 113C 1 Chuck, semi-bnls, neck/off 3 2,866 210.72 215.00 214.50 114 1 Chuck, shoulder clod 7 52,861 206.00 217.00 207.48 114A 3 Chuck, shoulder clod, trmd 8 17,581 215.20 227.30 220.94 114D 3 Chuck, clod, top blade 4 2,027 275.00 289.00 281.49 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 1,522 296.00 330.00 328.10 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 16 112,429 237.00 250.00 243.75 116B 1 Chuck, chuck tender (IM) 7 10,419 227.72 236.00 229.94

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 16 43,318 204.44 227.00 212.18 120A 3 Brisket, point/off, bnls 7 4,206 349.40 360.00 353.91 123A 3 Short Plate, short rib 12 26,477 370.00 382.00 375.11 130 4 Chuck, short rib 13 45,327 249.70 277.00 257.39 160 1 Round, bone-in 5 14,373 204.00 220.07 204.35 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 23 87,700 229.00 245.50 240.73 168 1 Round, top inside round 10 16,779 214.00 230.00 223.02 168 3 Round, top inside round 4 42,495 220.00 235.07 220.52 169 5 Round, top inside, denuded 6 5,365 266.00 273.00 271.43

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 7 24,533 220.87 245.00 229.77 171C 3 Round, eye of round (IM) 12 44,800 244.60 265.00 248.93 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 4 5,424 525.00 535.00 525.62 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 5 5,102 445.00 521.00 478.94 180 3 Loin, strip, bnls, 0x1 11 12,028 505.27 515.00 508.77 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 185A 4 Loin, bottom sirloin, flap 10 13,169 380.44 395.00 388.19 185B 1 Loin, ball-tip, bnls, heavy 4 5,499 235.00 242.22 237.54 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 4 14,332 397.23 435.00 404.38 189A 4 Loin, tndrloin, trmd, heavy 18 87,220 925.00 1227.00 974.15 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 3,622 410.00 450.00 434.18 ------------------------------------------------------------------------------- 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 112A 3 Rib, ribeye, bnls, light 3 2,323 525.00 530.00 526.23 112A 3 Rib, ribeye, bnls, heavy 8 17,995 515.00 520.00 515.33 113C 1 Chuck, semi-bnls, neck/off 5 6,071 210.00 213.99 211.44 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 8 91,426 209.17 226.00 219.28 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 3,648 260.00 265.00 261.65 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 9 25,607 233.20 250.00 238.92 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 9 127,789 200.39 220.00 203.79 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 2,721 300.00 360.00 333.32 130 4 Chuck, short rib 7 21,969 249.00 272.00 264.37 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 5 17,931 233.00 245.00 234.61 168 1 Round, top inside round 5 10,535 221.07 230.00 228.80 168 3 Round, top inside round 6 60,043 223.39 240.00 232.22 169 5 Round, top inside, denuded 3 5,328 258.20 273.00 270.26

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 8 46,620 217.17 240.00 232.57 171C 3 Round, eye of round (IM) 7 9,144 235.70 255.00 244.27 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 54,249 387.17 426.00 414.95 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 6 15,327 390.00 405.00 397.18 184 1 Loin, top butt, bnls, heavy 7 50,810 253.87 284.00 261.57 184 3 Loin, top butt, boneless 10 54,867 267.40 285.00 283.70 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 4 2,334 225.00 235.00 226.64 185C 1 Loin, sirloin, tri-tip (IM) 9 147,230 274.00 280.00 277.48 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 11 11,799 810.00 847.00 824.67 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 5 22,325 80.59 110.00 90.93 121D 4 Plate, Inside Skirt (IM) 10 15,614 345.00 360.00 353.65 121C 4 Plate, Outside Skirt (IM) 6 5,736 460.00 491.00 473.74 121E 6 Outside Skirt, pld (IM) 0 0

Cap, Wedge Meat & (IM) Lean 22 71,465 254.00 270.00 258.37

Pectoral Meat 8 11,603 259.00 275.00 269.16 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 68,565 159.47 171.00 162.51 Ground Beef 75% 0 0 Ground Beef 81% 34 231,694 194.00 226.00 217.19 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 19 111,992 270.47 277.50 274.62 Ground Beef Chuck 80% 14 61,447 213.27 232.00 222.81 Ground Beef Round 85% 16 74,173 229.63 244.00 241.87 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% 0 0 Blended Ground Beef 81% 0 0 Blended Ground Beef 85% 0 0 Blended Ground Beef 90% 0 0 Blended Ground Beef 93% 0 0 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 0 0 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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