USDA Boxed Beef Cutout Midday Prices for April 18

April 18 (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: 190.89 184.38 Change from prior day: (0.44) (0.11) ------------------------------------------------------------------------------- Choice/Select spread: 6.51

Total Load Count (Cuts, Trimmings, Grids): 122 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 273.66 254.84 Primal Chuck 161.91 162.57 Primal Round 157.55 157.26 Primal Loin 267.31 245.49 Primal Brisket 132.14 132.16 Primal Short Plate 137.80 140.63 Primal Flank 108.62 105.80 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/17 124 71 6 38 238 191.33 184.49 04/16 83 68 13 28 192 190.45 183.93 04/15 77 41 0 16 134 189.89 183.91 04/12 59 28 9 29 125 189.52 184.14 04/11 74 69 8 62 212 190.15 183.99 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 190.27 184.09 -------------------------------------------------------------------------------- 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 61.86 loads 2,474,373 pounds Select Cuts 39.80 loads 1,591,932 pounds Trimmings 0.35 loads 14,000 pounds Ground Beef 20.13 load 805,143 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 12,961 500.00 562.98 513.34 112A 3 Rib, ribeye, bnls, light 11 19,326 555.00 585.00 562.98 112A 3 Rib, ribeye, bnls, heavy 40 81,267 539.00 599.00 557.07 113C 1 Chuck, semi-bnls, neck/off 3 3,968 203.00 205.00 203.57 114 1 Chuck, shoulder clod 12 31,933 185.00 200.00 192.53 114A 3 Chuck, shoulder clod, trmd 34 216,301 193.00 230.00 201.48 114D 3 Chuck, clod, top blade 6 52,714 270.26 289.00 280.23 114E 3 Chuck, clod, arm roast 7 4,099 228.00 245.00 235.70 114F 5 Chuck, clod tender (IM) 12 15,316 385.00 405.00 392.33 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 38 220,481 218.00 237.00 226.16 116B 1 Chuck, chuck tender (IM) 14 46,986 203.00 218.00 208.80

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 27 194,782 187.00 215.00 192.87 120A 3 Brisket, point/off, bnls 10 6,477 339.00 360.00 347.69 123A 3 Short Plate, short rib 11 14,657 395.00 440.00 433.19 130 4 Chuck, short rib 3 3,890 292.00 330.00 309.13 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 32 72,476 217.00 243.00 225.96 168 1 Round, top inside round 29 92,419 189.80 217.98 193.57 168 3 Round, top inside round 25 345,539 198.20 217.89 200.08 169 5 Round, top inside, denuded 7 11,435 235.00 245.00 236.98

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 9,890 183.12 201.25 189.30 171B 3 Round, outside round 30 162,487 182.00 202.00 188.62 171C 3 Round, eye of round (IM) 33 196,590 199.80 237.10 205.73 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 7,461 560.00 569.50 564.42 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 5 12,605 482.00 514.00 488.54 180 3 Loin, strip, bnls, 0x1 15 20,302 580.00 628.00 620.69 184 1 Loin, top butt, bnls, heavy 7 4,708 305.00 328.00 312.89 184 3 Loin, top butt, boneless 25 130,840 315.00 343.50 328.26 185A 4 Loin, bottom sirloin, flap 23 46,707 375.00 451.50 407.24 185B 1 Loin, ball-tip, bnls, heavy 21 71,306 236.00 250.00 239.40 185C 1 Loin, sirloin, tri-tip (IM) 8 24,166 251.00 290.00 267.14 185D 4 Loin, tri-tip, pld (IM) 7 10,527 372.00 395.00 387.39 189A 4 Loin, tndrloin, trmd, heavy 29 129,884 860.00 924.00 865.39 191A 4 Loin, butt tender, trimmed 4 32,798 848.00 873.20 863.78 193 4 Flank, flank steak (IM) 6 15,576 380.00 435.00 395.81 ------------------------------------------------------------------------------- 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 8 15,769 472.35 501.47 481.99 112A 3 Rib, ribeye, bnls, light 10 22,607 490.00 554.50 503.11 112A 3 Rib, ribeye, bnls, heavy 11 67,332 492.47 544.50 502.14 113C 1 Chuck, semi-bnls, neck/off 3 6,099 210.00 211.00 210.52 114 1 Chuck, shoulder clod 10 98,262 185.00 193.00 189.61 114A 3 Chuck, shoulder clod, trmd 9 25,959 193.00 209.98 198.56 114D 3 Chuck, clod, top blade 0 0 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 28 106,448 219.00 245.00 223.78 116B 1 Chuck, chuck tender (IM) 5 17,459 205.00 226.00 208.94

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 13 82,291 191.00 200.00 194.65 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 5 23,369 292.00 330.50 299.47 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 9 83,908 213.00 228.00 219.14 168 1 Round, top inside round 9 48,216 191.00 201.00 193.29 168 3 Round, top inside round 15 222,312 198.20 217.98 200.28 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 3,056 180.90 207.00 203.01 171B 3 Round, outside round 13 24,238 190.00 210.98 192.70 171C 3 Round, eye of round (IM) 12 60,320 200.00 219.00 206.04 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 13,568 510.00 541.00 516.82 175 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 8 16,583 461.00 527.00 495.69 184 1 Loin, top butt, bnls, heavy 3 2,993 290.00 345.00 317.00 184 3 Loin, top butt, boneless 8 13,224 290.00 330.00 296.34 185A 4 Loin, bottom sirloin, flap 9 203,854 375.00 400.00 390.92 185B 1 Loin, ball-tip, bnls, heavy 10 22,429 225.00 240.00 237.62 185C 1 Loin, sirloin, tri-tip (IM) 5 22,632 248.00 275.50 250.03 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 13 17,330 830.00 995.50 852.14 191A 4 Loin, butt tender, trimmed 6 2,745 795.00 873.00 809.11 193 4 Flank, flank steak (IM) 7 21,874 375.00 405.00 379.05 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 3 19,473 100.00 118.49 105.48 121D 4 Plate, Inside Skirt (IM) 29 107,720 346.00 380.00 349.78 121C 4 Plate, Outside Skirt (IM) 9 20,015 395.00 490.00 427.06 121E 6 Outside Skirt, pld (IM) 6 15,784 550.00 695.00 604.78

Cap, Wedge Meat & (IM) Lean 34 156,776 228.00 244.00 233.80

Pectoral Meat 15 24,236 230.00 254.22 232.86 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 20 84,687 166.00 193.00 172.94 Ground Beef 75% Ground Beef 81% 23 256,341 174.37 211.00 181.28 Ground Beef 85% Ground Beef 90% Ground Beef 93% 8 37,349 238.26 250.19 246.72 Ground Beef Chuck 80% 18 334,978 173.50 220.00 212.78 Ground Beef Round 85% 7 19,548 210.00 226.00 218.75 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% 0 0 Blended Ground Beef 81% Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 Blended Ground Beef Round 85% 0 0 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 -------------------------------------------------------------------------------- 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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