USDA Boxed Beef Cutout Midday 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 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: 207.31 187.51 Change from prior day: (1.24) (1.58) ------------------------------------------------------------------------------- Choice/Select spread: 19.80

Total Load Count (Cuts, Trimmings, Grids): 97 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 320.87 268.15 Primal Chuck 156.75 153.25 Primal Round 157.80 156.38 Primal Loin 324.86 265.19 Primal Brisket 133.67 132.18 Primal Short Plate 139.04 142.97 Primal Flank 114.30 112.79 -------------------------------------------------------------------------------- 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 44.27 loads 1,770,610 pounds Select Cuts 32.60 loads 1,303,959 pounds Trimmings 10.41 loads 416,519 pounds Ground Beef 10.20 load 408,101 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 4,827 630.00 671.00 657.70 112A 3 Rib, ribeye, bnls, light 5 10,363 736.47 766.00 739.28 112A 3 Rib, ribeye, bnls, heavy 27 83,740 680.00 750.11 729.33 113C 1 Chuck, semi-bnls, neck/off 5 8,796 204.00 215.00 207.18 114 1 Chuck, shoulder clod 7 28,595 198.00 216.00 201.58 114A 3 Chuck, shoulder clod, trmd 25 122,710 199.92 245.00 208.89 114D 3 Chuck, clod, top blade 11 25,458 279.75 304.50 298.64 114E 3 Chuck, clod, arm roast 5 4,973 236.50 247.14 243.82 114F 5 Chuck, clod tender (IM) 10 17,516 420.00 425.00 420.61 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 34 196,638 214.00 241.26 218.95 116B 1 Chuck, chuck tender (IM) 18 106,088 194.77 217.00 201.13

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 28 113,306 195.00 211.00 201.17 120A 3 Brisket, point/off, bnls 7 9,387 345.00 375.00 358.15 123A 3 Short Plate, short rib 14 20,784 402.80 481.00 451.58 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 29 104,607 210.00 241.00 218.50 168 1 Round, top inside round 16 89,767 193.00 209.80 197.75 168 3 Round, top inside round 15 138,794 204.50 235.00 207.51 169 5 Round, top inside, denuded 7 10,057 234.00 252.00 245.77

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 6,191 191.00 200.00 196.72 171B 3 Round, outside round 30 115,967 188.65 210.00 198.51 171C 3 Round, eye of round (IM) 20 51,282 195.00 213.50 207.00 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 10 13,416 710.28 747.00 717.35 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 4 4,505 700.00 735.67 723.08 180 3 Loin, strip, bnls, 0x1 26 65,501 792.00 850.00 835.41 184 1 Loin, top butt, bnls, heavy 7 9,414 335.00 361.00 338.45 184 3 Loin, top butt, boneless 16 33,934 342.00 391.11 367.61 185A 4 Loin, bottom sirloin, flap 16 59,168 513.00 556.00 525.49 185B 1 Loin, ball-tip, bnls, heavy 15 33,891 300.00 317.00 302.91 185C 1 Loin, sirloin, tri-tip (IM) 8 4,312 365.00 377.00 365.20 185D 4 Loin, tri-tip, pld (IM) 11 13,982 475.00 492.00 481.75 189A 4 Loin, tndrloin, trmd, heavy 21 36,743 1000.00 1076.00 1033.24 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 12,909 456.00 481.00 467.84 ------------------------------------------------------------------------------- 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 2,984 531.00 541.00 533.17 112A 3 Rib, ribeye, bnls, light 4 2,256 590.00 590.00 590.00 112A 3 Rib, ribeye, bnls, heavy 18 50,873 550.00 596.00 557.41 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 4 18,097 200.00 211.13 207.52 114A 3 Chuck, shoulder clod, trmd 7 25,681 200.00 220.21 206.20 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 7 12,978 371.86 422.14 397.80 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 37 563,751 209.00 226.00 212.78 116B 1 Chuck, chuck tender (IM) 10 32,679 199.50 218.00 202.65

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 14 64,732 193.00 211.00 199.09 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 5 11,221 377.00 470.00 434.79 130 4 Chuck, short rib 5 6,685 306.00 320.00 317.65 160 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 10 49,650 212.00 229.83 215.69 168 1 Round, top inside round 7 27,939 190.00 204.69 193.08 168 3 Round, top inside round 7 67,839 204.24 211.70 207.03 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 7 22,452 178.00 199.69 181.85 171B 3 Round, outside round 8 16,398 194.85 206.00 197.86 171C 3 Round, eye of round (IM) 4 1,912 205.00 215.00 209.99 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 10,056 558.00 590.00 570.66 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 13 36,032 555.00 610.00 590.70 184 1 Loin, top butt, bnls, heavy 6 13,821 274.00 315.00 296.39 184 3 Loin, top butt, boneless 8 67,574 275.00 299.50 286.77 185A 4 Loin, bottom sirloin, flap 8 12,148 489.00 520.00 501.95 185B 1 Loin, ball-tip, bnls, heavy 16 21,148 280.00 296.50 284.17 185C 1 Loin, sirloin, tri-tip (IM) 3 40,561 290.00 300.00 290.78 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 11 17,980 882.70 976.00 896.28 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 6 12,896 440.00 480.00 463.35 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 20 70,436 375.00 395.00 381.74 121C 4 Plate, Outside Skirt (IM) 18 25,162 459.08 546.00 501.39 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 12 21,137 225.00 250.00 229.64

Pectoral Meat 10 39,534 210.67 240.00 214.51 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 9 105,075 158.32 185.00 163.38 Ground Beef 75% 0 0 Ground Beef 81% 11 49,947 173.00 198.67 185.81 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 3 12,821 240.46 248.50 246.55 Ground Beef Chuck 80% 9 180,138 171.36 202.00 182.68 Ground Beef Round 85% 5 15,114 208.68 225.00 210.98 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% 3 16,400 194.05 199.25 198.65 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 12 416,519 83.00 98.00 86.95 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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