USDA Boxed Beef Cutout Closing Prices for May 31

May 31 (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: 206.65 187.20 Change from prior day: (1.90) (1.89) ------------------------------------------------------------------------------- Choice/Select spread: 19.44

Total Load Count (Cuts, Trimmings, Grids): 162 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 318.59 268.24 Primal Chuck 155.59 152.10 Primal Round 157.64 156.51 Primal Loin 324.87 265.27 Primal Brisket 133.75 132.37 Primal Short Plate 138.65 142.58 Primal Flank 114.39 112.83 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/30 75 63 13 28 178 208.55 189.09 05/29 83 87 19 42 231 209.53 190.33 05/28 66 72 12 41 191 208.54 189.93 05/24 44 33 10 25 111 208.87 190.44 05/23 60 52 14 19 145 211.37 191.52 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 209.37 190.26 -------------------------------------------------------------------------------- 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 75.91 loads 3,036,202 pounds Select Cuts 58.93 loads 2,357,315 pounds Trimmings 12.61 loads 504,441 pounds Ground Beef 14.59 load 583,730 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 12 5,942 629.00 671.00 655.62 112A 3 Rib, ribeye, bnls, light 11 15,775 698.00 766.00 737.91 112A 3 Rib, ribeye, bnls, heavy 44 117,046 658.00 750.11 721.62 113C 1 Chuck, semi-bnls, neck/off 7 16,162 204.00 220.00 206.13 114 1 Chuck, shoulder clod 10 34,250 198.00 216.00 202.73 114A 3 Chuck, shoulder clod, trmd 41 247,548 199.92 245.00 208.63 114D 3 Chuck, clod, top blade 12 26,649 279.75 304.50 298.70 114E 3 Chuck, clod, arm roast 9 7,670 236.50 256.85 246.82 114F 5 Chuck, clod tender (IM) 11 17,696 420.00 429.00 420.70 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 47 253,430 214.00 241.26 219.70 116B 1 Chuck, chuck tender (IM) 29 123,458 194.77 217.00 201.97

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 43 141,591 195.00 217.00 201.29 120A 3 Brisket, point/off, bnls 9 10,023 345.00 375.00 358.52 123A 3 Short Plate, short rib 16 30,540 402.00 481.00 440.55 130 4 Chuck, short rib 8 22,368 297.00 350.00 315.26 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 48 177,254 210.00 244.00 218.20 168 1 Round, top inside round 27 154,613 193.00 213.00 196.81 168 3 Round, top inside round 30 224,603 197.74 235.00 207.44 169 5 Round, top inside, denuded 8 11,249 234.00 252.00 246.11

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 10,028 178.00 200.00 193.66 171B 3 Round, outside round 51 291,141 188.65 219.00 196.79 171C 3 Round, eye of round (IM) 29 78,566 195.00 215.00 203.59 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 18 18,432 700.10 750.09 720.98 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 5,624 700.00 735.67 725.18 180 3 Loin, strip, bnls, 0x1 35 69,330 792.00 850.00 835.00 184 1 Loin, top butt, bnls, heavy 12 13,871 331.00 361.00 339.48 184 3 Loin, top butt, boneless 26 42,355 342.00 391.11 366.69 185A 4 Loin, bottom sirloin, flap 25 84,449 513.00 565.00 529.99 185B 1 Loin, ball-tip, bnls, heavy 21 38,540 288.31 317.00 302.66 185C 1 Loin, sirloin, tri-tip (IM) 10 12,113 345.00 377.00 352.47 185D 4 Loin, tri-tip, pld (IM) 15 16,518 475.00 501.96 484.01 189A 4 Loin, tndrloin, trmd, heavy 28 45,804 1000.00 1076.00 1030.20 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 20 17,227 450.00 482.00 468.18 ------------------------------------------------------------------------------- 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 13,288 525.00 541.00 527.53 112A 3 Rib, ribeye, bnls, light 9 10,070 575.00 591.00 587.73 112A 3 Rib, ribeye, bnls, heavy 29 68,668 550.00 596.00 563.22 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 8 23,856 197.00 211.13 205.88 114A 3 Chuck, shoulder clod, trmd 12 31,689 200.00 220.21 207.00 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 8 13,619 371.86 422.14 398.84 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 43 578,357 209.00 226.00 212.90 116B 1 Chuck, chuck tender (IM) 15 43,809 195.10 218.00 201.25

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 19 77,040 193.00 211.00 199.45 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 11,787 377.00 470.00 434.56 130 4 Chuck, short rib 7 10,467 290.00 329.50 314.76 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 13 56,335 212.00 229.83 216.10 168 1 Round, top inside round 13 34,460 190.00 204.69 193.84 168 3 Round, top inside round 12 94,105 204.24 217.00 207.45 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 8 22,928 178.00 199.69 181.77 171B 3 Round, outside round 14 25,746 191.00 206.00 197.32 171C 3 Round, eye of round (IM) 7 4,416 204.39 215.00 207.32 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 16 16,295 558.00 590.00 570.97 175 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 17 37,687 555.00 610.00 590.88 184 1 Loin, top butt, bnls, heavy 10 18,907 274.00 322.00 298.44 184 3 Loin, top butt, boneless 13 71,666 275.00 322.50 288.36 185A 4 Loin, bottom sirloin, flap 12 17,759 489.00 520.00 499.05 185B 1 Loin, ball-tip, bnls, heavy 18 23,128 280.00 312.00 286.52 185C 1 Loin, sirloin, tri-tip (IM) 5 41,075 285.00 303.00 290.77 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 25,744 878.00 976.00 892.66 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 7 13,584 440.00 480.00 463.69 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 23 506,712 80.00 115.00 80.77 121D 4 Plate, Inside Skirt (IM) 24 83,906 375.00 395.00 382.22 121C 4 Plate, Outside Skirt (IM) 22 29,735 445.00 546.00 494.57 121E 6 Outside Skirt, pld (IM) 3 16,691 719.75 777.05 775.25

Cap, Wedge Meat & (IM) Lean 47 758,701 214.67 250.00 215.85

Pectoral Meat 16 87,776 210.00 240.00 219.20 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 16 155,810 155.72 185.00 164.39 Ground Beef 75% Ground Beef 81% 25 117,851 169.40 198.67 184.72 Ground Beef 85% Ground Beef 90% Ground Beef 93% 5 15,372 240.46 248.50 246.52 Ground Beef Chuck 80% 17 207,728 171.36 207.74 184.13 Ground Beef Round 85% 10 22,572 208.68 228.76 215.58 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 17,680 187.00 199.25 197.81 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% Blended Ground Beef Sirloin 90% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 16 485,791 83.00 98.00 86.97 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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