USDA Boxed Beef Cutout Midday 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 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: 196.76 195.75 Change from prior day: (0.73) (0.25) ------------------------------------------------------------------------------- Choice/Select spread: 1.01

Total Load Count (Cuts, Trimmings, Grids): 69 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 282.95 285.09 Primal Chuck 174.59 172.98 Primal Round 172.03 172.28 Primal Loin 253.39 249.36 Primal Brisket 140.44 139.77 Primal Short Plate 141.65 144.78 Primal Flank 111.17 106.05 -------------------------------------------------------------------------------- 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 46.64 loads 1,865,717 pounds Select Cuts 14.56 loads 582,485 pounds Trimmings 0.00 loads 0 pounds Ground Beef 7.53 load 301,338 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 14 11,840 565.00 591.00 572.92 112A 3 Rib, ribeye, bnls, light 14 71,144 575.00 656.00 597.48 112A 3 Rib, ribeye, bnls, heavy 38 144,168 570.00 645.30 609.70 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 13 23,201 210.00 221.00 216.65 114A 3 Chuck, shoulder clod, trmd 22 77,612 212.00 232.00 220.84 114D 3 Chuck, clod, top blade 6 6,844 273.00 286.00 278.06 114E 3 Chuck, clod, arm roast 5 12,808 256.74 289.00 279.15 114F 5 Chuck, clod tender (IM) 6 7,817 360.00 370.71 363.29 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 28 88,879 254.46 277.00 258.68 116B 1 Chuck, chuck tender (IM) 9 46,274 227.00 248.00 240.88

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 22 62,607 193.00 220.00 207.14 120A 3 Brisket, point/off, bnls 9 9,207 354.00 367.00 358.05 123A 3 Short Plate, short rib 9 11,825 415.00 468.50 431.60 130 4 Chuck, short rib 14 19,666 316.50 359.00 331.44 160 1 Round, bone-in 0 0 161 1 Round, boneless 3 4,127 212.50 216.00 214.65

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 36 88,773 225.00 255.00 238.38 168 1 Round, top inside round 18 80,976 196.00 222.00 206.72 168 3 Round, top inside round 18 81,542 213.28 237.00 219.32 169 5 Round, top inside, denuded 8 7,703 240.00 251.00 245.24

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 8 5,202 206.50 231.00 214.82 171B 3 Round, outside round 29 246,873 206.28 232.88 219.38 171C 3 Round, eye of round (IM) 32 80,629 240.00 267.00 244.67 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 102,699 457.00 545.00 480.94 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 8,116 453.00 473.63 464.57 180 3 Loin, strip, bnls, 0x1 33 175,097 488.00 541.00 510.62 184 1 Loin, top butt, bnls, heavy 8 15,082 295.00 323.63 305.64 184 3 Loin, top butt, boneless 19 44,790 315.00 334.50 324.73 185A 4 Loin, bottom sirloin, flap 21 41,792 394.00 456.00 407.88 185B 1 Loin, ball-tip, bnls, heavy 15 41,155 229.86 250.71 233.77 185C 1 Loin, sirloin, tri-tip (IM) 4 8,462 269.70 285.00 271.02 185D 4 Loin, tri-tip, pld (IM) 8 28,649 376.00 391.00 384.52 189A 4 Loin, tndrloin, trmd, heavy 21 80,871 890.00 975.00 901.31 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 9 4,143 434.00 465.00 441.90 ------------------------------------------------------------------------------- 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 9 12,379 579.61 656.00 610.24 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 4 15,350 207.00 214.00 209.86 114A 3 Chuck, shoulder clod, trmd 6 13,758 216.00 245.00 221.05 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 10 43,295 251.80 265.00 259.18 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 12 34,175 202.00 214.50 207.54 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 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 4 6,736 237.00 260.00 243.35 168 1 Round, top inside round 9 16,673 203.05 221.02 211.92 168 3 Round, top inside round 13 35,106 199.00 235.00 215.75 169 5 Round, top inside, denuded 6 8,029 243.00 260.00 246.54

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 11,252 189.00 217.50 196.38 171B 3 Round, outside round 9 47,302 206.28 244.98 214.93 171C 3 Round, eye of round (IM) 4 6,295 240.00 252.00 243.52 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 10 25,511 485.00 506.00 489.53 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 12 19,487 480.00 529.50 493.53 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 10 38,525 315.00 329.50 315.58 185A 4 Loin, bottom sirloin, flap 3 2,458 405.00 415.00 412.04 185B 1 Loin, ball-tip, bnls, heavy 8 30,709 233.00 236.00 234.45 185C 1 Loin, sirloin, tri-tip (IM) 7 6,601 274.53 306.00 280.15 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 11 14,206 884.67 910.00 900.43 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 8 32,130 383.00 454.00 397.10 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 2,948 103.40 130.00 115.09 121D 4 Plate, Inside Skirt (IM) 9 19,135 360.50 380.00 370.99 121C 4 Plate, Outside Skirt (IM) 4 4,705 461.00 526.00 474.49 121E 6 Outside Skirt, pld (IM) 5 1,612 606.00 745.00 652.35

Cap, Wedge Meat & (IM) Lean 24 34,977 258.63 285.00 271.12

Pectoral Meat 29 60,896 241.00 290.00 264.09 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 9 53,701 167.01 191.50 176.79 Ground Beef 75% Ground Beef 81% 23 48,366 214.20 231.99 220.70 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 6 37,671 269.91 291.50 274.64 Ground Beef Chuck 80% 6 51,001 209.00 229.00 212.26 Ground Beef Round 85% 3 9,874 232.29 248.00 242.97 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% 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 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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