USDA Boxed Beef Cutout Closing Prices for March 14

March 14 (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: 196.32 195.13 Change from prior day: (1.17) (0.87) ------------------------------------------------------------------------------- Choice/Select spread: 1.19

Total Load Count (Cuts, Trimmings, Grids): 121 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 283.16 284.86 Primal Chuck 173.51 172.71 Primal Round 172.06 172.06 Primal Loin 253.31 247.81 Primal Brisket 140.24 139.61 Primal Short Plate 139.99 143.21 Primal Flank 111.01 105.63 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/13 86 37 0 36 159 197.49 196.00 03/12 67 43 6 20 135 197.28 195.70 03/11 60 18 6 18 103 196.88 195.60 03/08 61 25 7 29 122 197.28 194.93 03/07 59 29 7 23 118 196.90 195.09 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.17 195.46 -------------------------------------------------------------------------------- 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 69.50 loads 2,779,969 pounds Select Cuts 24.97 loads 998,654 pounds Trimmings 3.80 loads 152,058 pounds Ground Beef 22.25 load 890,089 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 20 23,442 529.00 591.00 569.94 112A 3 Rib, ribeye, bnls, light 15 71,560 565.00 656.00 597.29 112A 3 Rib, ribeye, bnls, heavy 56 170,872 570.00 665.00 610.74 113C 1 Chuck, semi-bnls, neck/off 7 98,827 200.00 235.00 201.60 114 1 Chuck, shoulder clod 20 66,980 203.00 221.00 214.39 114A 3 Chuck, shoulder clod, trmd 31 166,446 212.00 238.00 220.77 114D 3 Chuck, clod, top blade 8 7,909 273.00 286.00 278.00 114E 3 Chuck, clod, arm roast 11 58,572 245.00 289.00 254.90 114F 5 Chuck, clod tender (IM) 7 8,197 360.00 370.71 363.63 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 37 124,383 254.46 277.00 258.30 116B 1 Chuck, chuck tender (IM) 17 62,964 227.00 249.00 241.53

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 29 112,118 193.00 220.00 207.78 120A 3 Brisket, point/off, bnls 11 11,459 340.00 367.00 356.87 123A 3 Short Plate, short rib 26 21,652 401.00 471.00 435.58 130 4 Chuck, short rib 17 25,277 316.50 359.00 330.28 160 1 Round, bone-in 161 1 Round, boneless 4 5,125 212.50 216.00 214.72

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 49 123,344 225.00 260.00 237.81 168 1 Round, top inside round 25 126,259 196.00 222.00 207.29 168 3 Round, top inside round 28 124,414 210.00 237.00 217.51 169 5 Round, top inside, denuded 13 14,092 240.00 260.21 247.81

3 Round, top inside, side off 170 1 Round, bottom gooseneck 8 5,202 206.50 231.00 214.82 171B 3 Round, outside round 36 286,695 206.28 233.56 220.60 171C 3 Round, eye of round (IM) 43 106,811 235.00 267.00 243.89 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 104,987 457.00 545.00 481.50 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 10 10,138 453.00 473.63 463.79 180 3 Loin, strip, bnls, 0x1 38 193,222 488.00 541.00 508.96 184 1 Loin, top butt, bnls, heavy 20 24,238 295.00 336.00 309.60 184 3 Loin, top butt, boneless 29 79,335 315.00 340.00 324.76 185A 4 Loin, bottom sirloin, flap 33 60,356 394.00 441.00 409.16 185B 1 Loin, ball-tip, bnls, heavy 21 50,858 229.86 255.00 235.76 185C 1 Loin, sirloin, tri-tip (IM) 8 21,283 269.00 296.00 279.97 185D 4 Loin, tri-tip, pld (IM) 11 39,016 360.00 391.00 379.77 189A 4 Loin, tndrloin, trmd, heavy 30 87,443 890.00 1036.00 904.34 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 11,030 424.00 465.00 442.24 ------------------------------------------------------------------------------- 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 6 42,756 607.00 635.00 627.11 112A 3 Rib, ribeye, bnls, heavy 11 15,083 579.61 656.00 606.68 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 7 25,644 207.00 221.00 210.03 114A 3 Chuck, shoulder clod, trmd 11 68,809 216.00 245.00 221.81 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 18 52,447 251.80 270.30 259.57 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 17 48,079 196.00 221.00 207.61 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 5 32,792 404.00 433.56 405.45 130 4 Chuck, short rib 4 2,313 320.00 320.00 320.00 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 7 47,510 233.00 260.00 235.66 168 1 Round, top inside round 12 32,518 203.05 221.02 208.55 168 3 Round, top inside round 16 46,949 199.00 235.00 215.13 169 5 Round, top inside, denuded 8 11,661 243.00 260.00 246.20

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 14,599 189.00 220.00 198.42 171B 3 Round, outside round 11 48,781 206.28 244.98 215.50 171C 3 Round, eye of round (IM) 7 16,704 235.00 252.00 238.71 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 12 27,165 485.00 506.00 489.33 175 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 15 33,287 480.00 529.50 489.83 184 1 Loin, top butt, bnls, heavy 3 3,097 295.00 310.00 304.80 184 3 Loin, top butt, boneless 17 119,653 303.01 330.00 308.01 185A 4 Loin, bottom sirloin, flap 4 4,201 405.00 416.00 413.68 185B 1 Loin, ball-tip, bnls, heavy 9 31,723 229.00 236.00 234.28 185C 1 Loin, sirloin, tri-tip (IM) 10 8,689 269.00 306.00 279.52 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 21 25,114 861.00 910.00 886.30 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 9 35,184 383.00 454.00 396.39 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 11 4,724 103.40 130.00 117.31 121D 4 Plate, Inside Skirt (IM) 16 64,365 358.00 380.00 363.30 121C 4 Plate, Outside Skirt (IM) 9 14,438 441.01 530.00 456.58 121E 6 Outside Skirt, pld (IM) 7 9,052 576.90 745.00 599.31

Cap, Wedge Meat & (IM) Lean 33 73,522 258.63 285.00 267.59

Pectoral Meat 43 96,916 240.00 290.00 260.63 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 20 89,627 167.01 201.00 179.33 Ground Beef 75% Ground Beef 81% 30 165,866 212.00 236.00 217.92 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 8 57,257 252.27 291.50 268.24 Ground Beef Chuck 80% 10 106,805 209.00 229.00 214.27 Ground Beef Round 85% 4 10,418 232.29 248.00 243.23 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 27,300 212.00 231.70 212.84 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 5 152,058 85.00 88.00 87.08 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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