USDA Boxed Beef Cutout Closing Prices for January 24

January 24 (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: 188.01 182.19 Change from prior day: (1.77) (0.71) ------------------------------------------------------------------------------- Choice/Select spread: 5.82

Total Load Count (Cuts, Trimmings, Grids): 201 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 274.15 256.51 Primal Chuck 161.67 161.07 Primal Round 166.66 165.20 Primal Loin 249.06 232.50 Primal Brisket 128.94 129.35 Primal Short Plate 127.69 133.36 Primal Flank 103.86 96.90 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 01/23 124 78 38 49 290 189.78 182.90 01/22 171 122 39 62 394 190.59 183.90 01/18 82 51 26 35 194 189.84 182.61 01/17 107 59 19 31 215 192.20 184.36 01/16 77 57 12 36 183 193.83 186.20 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.25 183.99 -------------------------------------------------------------------------------- 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 112.61 loads 4,504,552 pounds Select Cuts 52.88 loads 2,115,225 pounds Trimmings 12.84 loads 513,782 pounds Ground Beef 22.78 load 911,382 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 12 65,900 494.00 550.00 540.80 112A 3 Rib, ribeye, bnls, light 16 121,034 599.90 631.00 601.33 112A 3 Rib, ribeye, bnls, heavy 50 91,794 585.00 630.00 597.72 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 16 49,172 195.00 216.50 203.52 114A 3 Chuck, shoulder clod, trmd 36 353,606 209.53 225.00 212.66 114D 3 Chuck, clod, top blade 7 28,739 269.00 296.84 271.19 114E 3 Chuck, clod, arm roast 9 10,710 248.85 279.15 266.71 114F 5 Chuck, clod tender (IM) 11 10,917 270.00 330.55 294.07 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 168,455 229.60 250.00 235.88 116B 1 Chuck, chuck tender (IM) 17 39,701 220.00 250.00 229.41

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 37 155,781 189.20 210.00 193.19 120A 3 Brisket, point/off, bnls 8 11,415 338.00 350.06 347.24 123A 3 Short Plate, short rib 45 27,474 363.50 396.00 377.79 130 4 Chuck, short rib 28 61,700 214.20 300.00 245.95 160 1 Round, bone-in 4 2,749 206.00 216.84 210.13 161 1 Round, boneless 3 13,081 210.00 220.00 210.48

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 76 604,899 222.00 245.00 225.39 168 1 Round, top inside round 26 230,770 195.00 211.00 195.31 168 3 Round, top inside round 25 275,096 200.00 220.00 205.92 169 5 Round, top inside, denuded 15 28,092 235.00 259.60 240.48

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 13,553 197.00 216.00 203.32 171B 3 Round, outside round 49 273,260 210.00 232.00 220.02 171C 3 Round, eye of round (IM) 47 157,850 227.00 257.60 242.40 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 17 22,732 490.00 544.50 510.82 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 8 9,276 425.00 455.14 430.93 180 3 Loin, strip, bnls, 0x1 34 299,510 468.50 536.00 480.15 184 1 Loin, top butt, bnls, heavy 28 15,943 308.50 315.00 310.29 184 3 Loin, top butt, boneless 28 215,436 305.00 349.50 315.21 185A 4 Loin, bottom sirloin, flap 61 248,692 362.00 400.00 369.57 185B 1 Loin, ball-tip, bnls, heavy 22 99,489 219.00 242.50 231.01 185C 1 Loin, sirloin, tri-tip (IM) 13 50,283 280.00 301.00 288.28 185D 4 Loin, tri-tip, pld (IM) 4 5,230 409.00 457.00 410.50 189A 4 Loin, tndrloin, trmd, heavy 65 447,843 881.00 1087.00 910.65 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 17 57,245 389.07 460.00 436.69 ------------------------------------------------------------------------------- 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 7 10,723 480.15 520.00 492.11 112A 3 Rib, ribeye, bnls, light 9 20,960 546.00 569.50 557.61 112A 3 Rib, ribeye, bnls, heavy 22 29,250 520.00 567.00 549.29 113C 1 Chuck, semi-bnls, neck/off 5 8,284 207.83 215.00 211.74 114 1 Chuck, shoulder clod 14 53,588 195.00 212.00 202.41 114A 3 Chuck, shoulder clod, trmd 21 89,402 205.00 220.50 212.34 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 9 22,975 280.00 300.00 282.77 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 36 326,577 225.00 242.00 230.73 116B 1 Chuck, chuck tender (IM) 9 14,225 221.00 247.00 225.71

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 14 40,569 189.20 206.00 195.43 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 4 4,496 255.00 380.00 309.89 130 4 Chuck, short rib 23 103,971 214.20 295.50 222.32 160 1 Round, bone-in 161 1 Round, boneless 4 11,029 210.00 220.00 210.87

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 21 42,174 217.30 242.50 226.07 168 1 Round, top inside round 21 144,719 195.00 214.50 196.14 168 3 Round, top inside round 23 283,481 201.65 218.50 203.81 169 5 Round, top inside, denuded 6 7,691 239.00 259.76 241.46

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 6,131 211.00 230.00 217.41 171B 3 Round, outside round 24 103,611 203.00 230.50 216.16 171C 3 Round, eye of round (IM) 34 126,641 221.00 250.50 230.52 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 25 105,963 425.00 453.01 438.13 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 28 78,916 404.00 446.00 426.20 184 1 Loin, top butt, bnls, heavy 7 22,163 272.00 283.00 276.54 184 3 Loin, top butt, boneless 18 17,450 273.00 313.00 294.50 185A 4 Loin, bottom sirloin, flap 9 39,221 365.00 391.00 376.64 185B 1 Loin, ball-tip, bnls, heavy 19 82,955 209.00 236.00 229.04 185C 1 Loin, sirloin, tri-tip (IM) 12 49,679 279.00 298.05 281.35 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 22 15,709 885.00 924.00 891.61 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 9 24,862 379.00 431.00 386.64 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 15 36,384 92.00 125.00 94.24 121D 4 Plate, Inside Skirt (IM) 23 41,771 336.74 376.00 350.68 121C 4 Plate, Outside Skirt (IM) 20 92,846 427.00 511.00 449.80 121E 6 Outside Skirt, pld (IM) 5 6,214 610.00 690.00 618.80

Cap, Wedge Meat & (IM) Lean 35 71,272 252.00 276.00 265.19

Pectoral Meat 16 18,798 251.15 282.00 261.12 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 27 191,474 158.00 180.00 163.67 Ground Beef 75% Ground Beef 81% 22 94,159 190.00 228.00 208.52 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 4 2,334 270.15 281.50 276.71 Ground Beef Chuck 80% 19 148,047 184.00 231.00 205.84 Ground Beef Round 85% 7 20,851 220.13 245.00 225.13 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% 6 21,069 206.92 227.70 219.45 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 18 513,782 62.85 74.00 68.87 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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