USDA Boxed Beef Cutout Midday Prices for February 1

February 1 (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: 183.99 179.56 Change from prior day: (1.33) (0.69) ------------------------------------------------------------------------------- Choice/Select spread: 4.43

Total Load Count (Cuts, Trimmings, Grids): 112 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 267.92 254.86 Primal Chuck 159.11 157.17 Primal Round 160.08 160.67 Primal Loin 244.37 231.42 Primal Brisket 126.47 126.56 Primal Short Plate 128.79 134.48 Primal Flank 102.71 97.40 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 01/31 108 51 31 37 227 185.32 180.25 01/30 125 84 8 31 246 186.76 181.02 01/29 78 57 7 28 170 186.89 181.10 01/28 118 30 16 25 189 187.61 182.42 01/25 79 38 14 23 154 187.44 181.86 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 186.80 181.33 -------------------------------------------------------------------------------- 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 65.12 loads 2,604,884 pounds Select Cuts 28.63 loads 1,145,364 pounds Trimmings 9.35 loads 374,117 pounds Ground Beef 9.16 load 366,203 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 16 131,582 504.65 557.00 505.78 112A 3 Rib, ribeye, bnls, light 7 59,958 579.00 625.00 588.38 112A 3 Rib, ribeye, bnls, heavy 25 130,385 540.40 606.00 574.69 113C 1 Chuck, semi-bnls, neck/off 4 18,427 197.00 225.00 199.83 114 1 Chuck, shoulder clod 11 71,655 194.89 207.98 199.58 114A 3 Chuck, shoulder clod, trmd 34 375,962 200.00 217.00 209.14 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 4 50,579 231.21 260.00 256.75 114F 5 Chuck, clod tender (IM) 6 5,126 272.59 320.00 295.20 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 20 149,365 226.00 244.50 229.40 116B 1 Chuck, chuck tender (IM) 12 50,662 213.15 228.00 217.60

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 30 178,083 181.00 216.00 191.07 120A 3 Brisket, point/off, bnls 8 5,612 330.00 375.00 340.81 123A 3 Short Plate, short rib 11 23,054 390.00 423.00 397.89 130 4 Chuck, short rib 10 44,692 265.00 300.00 294.95 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 34 346,764 210.00 245.00 216.57 168 1 Round, top inside round 20 88,237 183.13 198.00 188.50 168 3 Round, top inside round 23 364,895 189.75 210.00 195.24 169 5 Round, top inside, denuded 13 47,957 225.00 241.00 229.17

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 2,422 208.00 220.00 212.92 171B 3 Round, outside round 21 138,460 207.00 229.50 213.96 171C 3 Round, eye of round (IM) 16 29,652 220.00 255.50 237.27 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 10 29,432 475.00 500.00 482.67 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 4 5,747 420.00 435.00 428.76 180 3 Loin, strip, bnls, 0x1 23 31,987 470.00 523.00 483.69 184 1 Loin, top butt, bnls, heavy 4 6,147 300.00 300.00 300.00 184 3 Loin, top butt, boneless 8 12,679 300.00 348.00 320.70 185A 4 Loin, bottom sirloin, flap 20 44,970 365.00 391.00 372.46 185B 1 Loin, ball-tip, bnls, heavy 10 13,970 225.00 251.00 227.31 185C 1 Loin, sirloin, tri-tip (IM) 6 7,929 280.00 295.50 290.25 185D 4 Loin, tri-tip, pld (IM) 7 10,298 380.00 439.00 405.96 189A 4 Loin, tndrloin, trmd, heavy 17 66,633 875.88 955.00 895.12 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 2,486 425.00 465.00 434.28 ------------------------------------------------------------------------------- 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 2,788 495.00 508.00 500.85 112A 3 Rib, ribeye, bnls, light 8 16,198 530.00 560.00 542.70 112A 3 Rib, ribeye, bnls, heavy 17 32,066 545.43 569.65 555.13 113C 1 Chuck, semi-bnls, neck/off 6 12,960 206.00 215.00 213.62 114 1 Chuck, shoulder clod 8 37,406 197.00 214.08 202.70 114A 3 Chuck, shoulder clod, trmd 7 56,312 203.00 217.00 205.60 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 10,024 275.95 293.34 281.45 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 14 80,886 208.14 233.75 225.21 116B 1 Chuck, chuck tender (IM) 3 2,312 215.00 226.00 225.24

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 14 129,085 189.00 199.00 191.09 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 5 6,521 380.00 401.00 390.87 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless 4 9,764 206.00 216.00 215.27

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 13 25,322 204.62 228.00 212.98 168 1 Round, top inside round 14 41,195 188.00 224.08 199.45 168 3 Round, top inside round 12 108,610 192.00 212.00 196.93 169 5 Round, top inside, denuded 3 20,328 225.00 235.66 230.53

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 4,123 181.62 211.00 201.42 171B 3 Round, outside round 6 16,240 208.00 215.00 211.39 171C 3 Round, eye of round (IM) 4 14,102 224.00 240.00 228.46 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 31,998 425.00 447.00 438.67 175 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 6 4,125 430.00 447.33 435.03 184 1 Loin, top butt, bnls, heavy 4 12,195 275.00 275.00 275.00 184 3 Loin, top butt, boneless 5 10,663 296.15 301.00 300.04 185A 4 Loin, bottom sirloin, flap 16 274,046 350.00 376.00 366.15 185B 1 Loin, ball-tip, bnls, heavy 6 22,616 222.00 225.00 224.98 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 9 14,775 885.00 890.00 885.50 191A 4 Loin, butt tender, trimmed 0 0 193 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 121D 4 Plate, Inside Skirt (IM) 13 20,786 348.59 375.00 360.72 121C 4 Plate, Outside Skirt (IM) 9 10,769 500.00 530.00 505.12 121E 6 Outside Skirt, pld (IM) 0 0

Cap, Wedge Meat & (IM) Lean 25 80,732 258.00 265.30 262.92

Pectoral Meat 5 4,883 253.00 275.00 260.29 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 12 51,634 148.38 175.89 158.69 Ground Beef 75% Ground Beef 81% 11 97,730 183.84 214.00 197.00 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% Ground Beef Chuck 80% 10 63,125 200.00 222.00 211.28 Ground Beef Round 85% 6 22,239 223.00 241.00 227.87 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% Blended Ground Beef 81% 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 10 256,867 66.00 72.00 68.17 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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