USDA Boxed Beef Cutout Midday Prices for May 10

May 10 (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: 205.55 191.11 Change from prior day: 0.06 0.08 ------------------------------------------------------------------------------- Choice/Select spread: 14.43

Total Load Count (Cuts, Trimmings, Grids): 121 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 306.72 268.78 Primal Chuck 163.15 161.15 Primal Round 164.42 162.34 Primal Loin 307.94 264.55 Primal Brisket 134.06 133.79 Primal Short Plate 140.03 143.06 Primal Flank 113.19 110.21 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/09 63 44 5 19 131 205.49 191.03 05/08 68 72 16 43 199 204.67 190.63 05/07 60 47 8 33 147 201.19 190.26 05/06 53 38 11 24 125 200.26 189.61 05/03 49 40 7 17 114 201.68 190.13 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 202.66 190.33 -------------------------------------------------------------------------------- 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 58.81 loads 2,352,312 pounds Select Cuts 47.95 loads 1,918,093 pounds Trimmings 4.08 loads 163,007 pounds Ground Beef 10.19 load 407,504 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 69,916 602.00 627.00 615.49 112A 3 Rib, ribeye, bnls, light 5 6,260 625.00 696.00 674.42 112A 3 Rib, ribeye, bnls, heavy 14 35,256 615.00 686.89 667.99 113C 1 Chuck, semi-bnls, neck/off 4 38,886 189.00 215.00 190.08 114 1 Chuck, shoulder clod 4 10,021 206.00 212.89 208.75 114A 3 Chuck, shoulder clod, trmd 14 28,578 218.21 227.00 221.78 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 4 2,172 236.50 256.00 252.50 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 22 66,835 223.29 241.89 234.35 116B 1 Chuck, chuck tender (IM) 13 51,158 200.00 216.89 211.17

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 25 129,606 187.00 210.00 197.33 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 8 14,613 390.00 486.00 454.47 130 4 Chuck, short rib 4 7,580 287.00 350.00 305.01 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 34 120,266 224.00 242.50 229.62 168 1 Round, top inside round 9 32,997 204.00 217.50 207.30 168 3 Round, top inside round 15 107,646 214.50 232.00 219.26 169 5 Round, top inside, denuded 8 52,606 243.00 257.00 246.00

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 4,585 191.00 205.00 193.73 171B 3 Round, outside round 14 58,118 200.00 215.00 205.61 171C 3 Round, eye of round (IM) 23 102,972 210.00 222.89 211.11 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 7 2,925 685.00 717.00 696.42 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 4 2,828 680.00 700.43 684.00 180 3 Loin, strip, bnls, 0x1 26 106,815 744.76 800.00 758.52 184 1 Loin, top butt, bnls, heavy 5 13,920 320.00 334.00 322.76 184 3 Loin, top butt, boneless 15 106,064 332.75 366.50 348.81 185A 4 Loin, bottom sirloin, flap 7 11,664 480.00 519.00 486.02 185B 1 Loin, ball-tip, bnls, heavy 7 41,178 275.00 305.00 292.32 185C 1 Loin, sirloin, tri-tip (IM) 3 1,284 320.00 340.00 332.78 185D 4 Loin, tri-tip, pld (IM) 5 3,063 431.00 451.00 437.25 189A 4 Loin, tndrloin, trmd, heavy 26 35,692 927.00 1024.00 974.38 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 7 7,654 419.00 465.00 438.55 ------------------------------------------------------------------------------- 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 31,604 492.48 520.00 513.30 112A 3 Rib, ribeye, bnls, light 6 21,366 554.00 590.19 568.27 112A 3 Rib, ribeye, bnls, heavy 13 31,591 539.00 590.00 554.29 113C 1 Chuck, semi-bnls, neck/off 5 13,000 189.00 210.00 202.84 114 1 Chuck, shoulder clod 4 11,489 205.00 209.68 205.89 114A 3 Chuck, shoulder clod, trmd 9 37,040 214.00 224.00 219.03 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 3 4,861 380.00 400.30 387.52 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 12 97,308 223.29 238.00 227.63 116B 1 Chuck, chuck tender (IM) 4 15,646 211.50 214.00 213.13

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 9 83,087 195.00 203.00 198.11 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 7 6,312 410.96 471.00 442.56 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 7 18,545 227.00 236.00 229.38 168 1 Round, top inside round 10 59,542 197.00 206.16 201.27 168 3 Round, top inside round 5 21,885 203.00 217.00 210.23 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 1,665 199.68 205.00 202.96 171B 3 Round, outside round 7 59,000 200.00 208.00 204.83 171C 3 Round, eye of round (IM) 9 29,061 198.00 215.00 210.23 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 4,607 570.00 580.00 574.06 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 3 8,689 576.43 600.00 578.54 184 1 Loin, top butt, bnls, heavy 3 9,876 290.00 335.00 294.29 184 3 Loin, top butt, boneless 8 12,815 315.00 333.27 317.91 185A 4 Loin, bottom sirloin, flap 3 14,163 490.00 524.18 503.07 185B 1 Loin, ball-tip, bnls, heavy 4 20,383 255.00 265.00 260.81 185C 1 Loin, sirloin, tri-tip (IM) 8 23,651 275.00 280.65 275.58 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 10 48,714 851.00 966.00 872.69 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 36,140 411.00 431.00 419.40 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 3,314 100.00 130.00 106.23 121D 4 Plate, Inside Skirt (IM) 22 172,255 349.74 380.00 363.17 121C 4 Plate, Outside Skirt (IM) 16 23,837 423.00 517.00 463.47 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 98 1,889,956 214.67 246.00 217.38

Pectoral Meat 21 94,470 217.29 255.00 230.06 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 11 94,792 168.27 184.00 172.94 Ground Beef 75% 0 0 Ground Beef 81% 17 53,816 179.00 209.89 188.94 Ground Beef 85% Ground Beef 90% Ground Beef 93% 4 3,354 256.50 267.50 258.61 Ground Beef Chuck 80% 9 15,885 189.45 205.00 196.81 Ground Beef Round 85% 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% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 7 163,007 94.00 96.50 95.70 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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