USDA Boxed Beef Cutout Midday Prices for March 21

March 21 (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: 192.00 191.90 Change from prior day: (1.41) (1.13) ------------------------------------------------------------------------------- Choice/Select spread: 0.10

Total Load Count (Cuts, Trimmings, Grids): 100 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 280.68 283.08 Primal Chuck 167.16 167.11 Primal Round 166.34 166.98 Primal Loin 251.35 248.88 Primal Brisket 135.19 134.09 Primal Short Plate 137.12 140.14 Primal Flank 110.74 106.45 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/20 114 37 5 39 195 193.41 193.03 03/19 96 39 15 30 180 194.18 193.65 03/18 79 27 10 16 132 195.84 193.71 03/15 41 20 8 25 93 195.76 193.93 03/14 70 25 4 22 121 196.32 195.13 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.10 193.89 -------------------------------------------------------------------------------- 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 62.51 loads 2,500,583 pounds Select Cuts 22.45 loads 898,105 pounds Trimmings 0.00 loads 0 pounds Ground Beef 14.70 load 588,161 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 9 13,817 558.00 586.00 561.54 112A 3 Rib, ribeye, bnls, light 7 33,026 588.00 627.00 596.22 112A 3 Rib, ribeye, bnls, heavy 38 116,887 575.22 644.70 602.48 113C 1 Chuck, semi-bnls, neck/off 3 15,905 189.00 213.00 212.86 114 1 Chuck, shoulder clod 6 5,947 189.00 207.00 201.76 114A 3 Chuck, shoulder clod, trmd 17 54,918 207.00 225.50 210.84 114D 3 Chuck, clod, top blade 7 22,297 265.28 280.50 273.07 114E 3 Chuck, clod, arm roast 4 6,062 264.50 267.00 266.65 114F 5 Chuck, clod tender (IM) 16 10,354 345.00 415.00 369.30 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 60 833,008 225.65 266.00 235.44 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 73,962 195.00 216.50 201.31 120A 3 Brisket, point/off, bnls 10 13,282 328.00 360.50 349.14 123A 3 Short Plate, short rib 20 14,669 365.00 473.50 439.14 130 4 Chuck, short rib 5 3,693 325.00 346.00 334.73 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 31 105,833 219.00 244.50 224.72 168 1 Round, top inside round 18 90,450 192.00 210.00 196.24 168 3 Round, top inside round 21 90,223 204.50 222.00 206.05 169 5 Round, top inside, denuded 16 52,403 234.00 254.00 236.41

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 1,923 210.50 219.50 212.98 171B 3 Round, outside round 20 98,389 203.00 228.50 209.42 171C 3 Round, eye of round (IM) 12 30,687 234.00 252.70 249.36 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 8 10,810 474.00 507.58 485.52 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 5 6,789 455.00 465.00 458.33 180 3 Loin, strip, bnls, 0x1 35 208,958 485.00 544.50 493.01 184 1 Loin, top butt, bnls, heavy 4 3,799 295.00 315.00 300.40 184 3 Loin, top butt, boneless 17 59,813 310.00 336.00 318.18 185A 4 Loin, bottom sirloin, flap 20 40,553 405.00 440.50 410.68 185B 1 Loin, ball-tip, bnls, heavy 21 42,756 228.00 243.80 237.11 185C 1 Loin, sirloin, tri-tip (IM) 14 46,232 250.00 274.00 254.17 185D 4 Loin, tri-tip, pld (IM) 6 4,119 345.15 379.00 356.07 189A 4 Loin, tndrloin, trmd, heavy 40 236,386 843.00 1046.00 868.74 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 14 9,579 399.00 466.00 431.67 ------------------------------------------------------------------------------- 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 6 5,943 558.00 560.80 560.27 112A 3 Rib, ribeye, bnls, light 3 9,857 613.00 630.00 617.83 112A 3 Rib, ribeye, bnls, heavy 9 9,855 619.00 640.00 626.02 113C 1 Chuck, semi-bnls, neck/off 4 8,727 205.00 219.50 213.26 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 9 82,668 207.67 227.50 208.58 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 3,205 335.00 355.50 335.73 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 205,830 234.00 257.50 235.32 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 7 11,463 190.59 210.00 195.83 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 9 73,380 222.00 238.50 224.06 168 1 Round, top inside round 13 82,594 193.52 210.50 194.66 168 3 Round, top inside round 7 29,545 204.15 222.00 207.72 169 5 Round, top inside, denuded 5 4,529 235.00 245.50 238.82

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 6 13,467 203.00 227.50 210.13 171C 3 Round, eye of round (IM) 15 46,464 231.00 253.70 245.64 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 12,998 495.50 525.00 500.13 175 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 5 9,676 499.50 529.50 522.62 184 1 Loin, top butt, bnls, heavy 3 4,372 295.00 305.00 297.85 184 3 Loin, top butt, boneless 12 31,255 304.49 343.00 311.32 185A 4 Loin, bottom sirloin, flap 5 8,658 385.00 420.00 403.93 185B 1 Loin, ball-tip, bnls, heavy 8 18,185 233.00 240.00 238.30 185C 1 Loin, sirloin, tri-tip (IM) 11 79,760 250.00 275.00 256.73 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 7 3,045 845.12 910.00 890.07 191A 4 Loin, butt tender, trimmed 5 3,656 805.00 850.50 824.25 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 13 34,345 110.00 121.00 112.20 121D 4 Plate, Inside Skirt (IM) 8 18,030 356.00 374.00 362.27 121C 4 Plate, Outside Skirt (IM) 13 57,652 387.59 536.00 421.79 121E 6 Outside Skirt, pld (IM) 6 5,113 560.00 745.00 580.03

Cap, Wedge Meat & (IM) Lean 18 43,772 240.00 285.00 260.69

Pectoral Meat 19 59,649 235.50 290.00 246.86 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 24 98,630 175.00 196.50 181.88 Ground Beef 75% Ground Beef 81% 23 140,237 184.00 233.50 207.29 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 5 24,845 269.75 289.50 278.89 Ground Beef Chuck 80% 5 32,426 193.00 223.89 210.33 Ground Beef Round 85% 3 14,399 211.76 242.42 229.52 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% 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% -------------------------------------------------------------------------------- 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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