USDA Boxed Beef Cutout Closing Prices for July 2

July 2 (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: 197.10 186.62 Change from prior day: 0.46 0.84 ------------------------------------------------------------------------------- Choice/Select spread: 10.48

Total Load Count (Cuts, Trimmings, Grids): 168 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 316.99 279.27 Primal Chuck 157.77 154.81 Primal Round 159.61 154.79 Primal Loin 272.04 251.55 Primal Brisket 139.92 139.33 Primal Short Plate 141.33 144.12 Primal Flank 121.30 118.68 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/01 47 42 20 28 137 196.64 185.78 06/28 55 29 3 24 111 197.50 187.15 06/27 82 52 16 19 170 197.38 187.62 06/26 97 74 14 30 215 196.51 186.51 06/25 86 58 8 20 172 197.57 185.92 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 197.12 186.60 -------------------------------------------------------------------------------- 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 74.83 loads 2,993,000 pounds Select Cuts 46.61 loads 1,864,598 pounds Trimmings 13.39 loads 535,509 pounds Ground Beef 33.19 load 1,327,653 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 39 108,727 599.00 677.00 625.00 112A 3 Rib, ribeye, bnls, light 23 31,859 684.50 761.00 716.16 112A 3 Rib, ribeye, bnls, heavy 54 102,351 673.69 760.00 697.59 113C 1 Chuck, semi-bnls, neck/off 3 2,835 200.00 205.00 202.41 114 1 Chuck, shoulder clod 13 40,237 179.06 195.00 185.34 114A 3 Chuck, shoulder clod, trmd 35 124,637 194.00 210.00 199.26 114D 3 Chuck, clod, top blade 10 10,221 262.50 297.00 283.88 114E 3 Chuck, clod, arm roast 16 174,053 209.00 245.00 212.48 114F 5 Chuck, clod tender (IM) 15 13,075 401.00 460.00 428.65 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 48 190,562 209.06 245.00 227.41 116B 1 Chuck, chuck tender (IM) 26 49,703 203.00 216.00 206.53

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 55 328,101 195.00 226.33 208.01 120A 3 Brisket, point/off, bnls 20 17,555 346.00 385.00 356.14 123A 3 Short Plate, short rib 27 38,615 410.00 470.00 449.90 130 4 Chuck, short rib 36 88,686 306.50 345.00 316.36 160 1 Round, bone-in 161 1 Round, boneless 5 5,949 195.00 201.00 198.43

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 53 121,334 200.00 238.50 214.05 168 1 Round, top inside round 17 54,818 195.00 207.28 201.71 168 3 Round, top inside round 22 81,377 209.00 229.00 215.43 169 5 Round, top inside, denuded 24 55,316 236.00 250.00 243.48

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 7 15,020 182.00 199.00 184.44 171B 3 Round, outside round 54 144,948 193.00 220.00 204.88 171C 3 Round, eye of round (IM) 53 136,921 194.00 225.80 204.22 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 30 125,436 475.69 584.50 545.94 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 8 9,465 490.00 531.00 512.88 180 3 Loin, strip, bnls, 0x1 39 74,781 530.00 624.00 566.14 184 1 Loin, top butt, bnls, heavy 6 4,805 300.00 317.28 308.44 184 3 Loin, top butt, boneless 28 76,102 305.00 340.03 324.29 185A 4 Loin, bottom sirloin, flap 38 117,449 450.34 536.83 485.07 185B 1 Loin, ball-tip, bnls, heavy 8 9,153 305.00 320.00 311.98 185C 1 Loin, sirloin, tri-tip (IM) 10 6,741 360.00 391.00 370.15 185D 4 Loin, tri-tip, pld (IM) 14 8,336 490.30 511.70 496.39 189A 4 Loin, tndrloin, trmd, heavy 38 103,893 900.00 999.00 926.10 191A 4 Loin, butt tender, trimmed 10 3,814 890.60 947.00 905.62 193 4 Flank, flank steak (IM) 31 33,727 456.00 496.51 481.50 ------------------------------------------------------------------------------- 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 25 40,279 523.00 556.00 535.14 112A 3 Rib, ribeye, bnls, light 13 35,212 589.65 610.00 599.97 112A 3 Rib, ribeye, bnls, heavy 30 58,016 572.00 624.00 598.58 113C 1 Chuck, semi-bnls, neck/off 10 14,410 197.00 207.50 200.31 114 1 Chuck, shoulder clod 11 223,223 180.03 194.00 185.44 114A 3 Chuck, shoulder clod, trmd 12 90,340 194.00 209.89 196.51 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 29,180 385.00 426.50 385.61 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 43 246,643 209.06 232.50 218.95 116B 1 Chuck, chuck tender (IM) 9 18,439 202.00 210.00 203.90

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 16 95,612 195.00 216.70 205.63 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 15,259 376.00 465.00 416.99 130 4 Chuck, short rib 14 33,836 305.00 340.00 312.69 160 1 Round, bone-in 161 1 Round, boneless 3 1,915 194.00 200.00 199.14

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 66,242 200.00 213.54 204.56 168 1 Round, top inside round 9 55,318 177.73 209.00 184.26 168 3 Round, top inside round 15 55,543 202.00 217.34 208.57 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 19,280 181.00 199.00 182.54 171B 3 Round, outside round 17 56,803 193.00 212.80 198.99 171C 3 Round, eye of round (IM) 18 59,344 198.00 210.00 203.62 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 25 49,763 490.00 550.00 521.95 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 33 84,144 480.00 562.28 514.66 184 1 Loin, top butt, bnls, heavy 7 14,666 260.00 283.00 263.40 184 3 Loin, top butt, boneless 32 89,688 252.00 294.00 269.98 185A 4 Loin, bottom sirloin, flap 8 5,277 457.50 506.50 490.53 185B 1 Loin, ball-tip, bnls, heavy 6 22,689 275.00 286.00 283.58 185C 1 Loin, sirloin, tri-tip (IM) 9 122,062 291.00 315.00 294.21 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 26 28,281 835.00 880.00 859.29 191A 4 Loin, butt tender, trimmed 14 4,362 779.00 880.00 836.48 193 4 Flank, flank steak (IM) 8 14,506 456.00 475.00 463.62 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 10 27,003 90.00 115.00 104.35 121D 4 Plate, Inside Skirt (IM) 34 44,817 347.00 401.00 383.98 121C 4 Plate, Outside Skirt (IM) 11 21,093 419.00 515.00 448.11 121E 6 Outside Skirt, pld (IM) 14 37,302 525.00 725.00 549.61

Cap, Wedge Meat & (IM) Lean 32 184,402 211.50 246.00 222.51

Pectoral Meat 35 203,880 214.26 242.80 227.78 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 42 479,263 158.00 184.28 170.36 Ground Beef 75% Ground Beef 81% 34 220,076 175.92 201.28 184.75 Ground Beef 85% Ground Beef 90% Ground Beef 93% 16 52,518 225.24 262.00 243.02 Ground Beef Chuck 80% 19 194,945 185.22 202.00 192.61 Ground Beef Round 85% 19 64,594 210.00 224.00 221.27 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% 13 111,870 191.25 204.00 199.26 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 25 409,509 92.50 105.84 101.02 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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