USDA Boxed Beef Cutout Midday 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 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: 197.48 186.50 Change from prior day: 0.84 0.72 ------------------------------------------------------------------------------- Choice/Select spread: 10.99

Total Load Count (Cuts, Trimmings, Grids): 96 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 315.95 277.83 Primal Chuck 157.96 154.88 Primal Round 159.47 154.63 Primal Loin 274.23 251.67 Primal Brisket 139.78 139.78 Primal Short Plate 141.44 144.23 Primal Flank 121.77 118.80 -------------------------------------------------------------------------------- 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 45.24 loads 1,809,493 pounds Select Cuts 21.49 loads 859,451 pounds Trimmings 6.61 loads 264,308 pounds Ground Beef 22.85 load 913,807 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 25 47,102 615.60 655.00 621.69 112A 3 Rib, ribeye, bnls, light 13 21,805 686.00 756.50 715.27 112A 3 Rib, ribeye, bnls, heavy 32 61,211 677.16 760.00 693.73 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 6 24,645 179.06 195.00 183.43 114A 3 Chuck, shoulder clod, trmd 21 97,619 196.00 204.28 198.85 114D 3 Chuck, clod, top blade 9 7,744 262.50 297.00 286.97 114E 3 Chuck, clod, arm roast 13 162,830 209.00 237.60 211.97 114F 5 Chuck, clod tender (IM) 9 6,254 401.00 446.00 420.55 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 53,110 209.06 240.00 224.45 116B 1 Chuck, chuck tender (IM) 16 15,696 203.68 216.00 209.55

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 34 96,293 195.00 216.70 208.10 120A 3 Brisket, point/off, bnls 15 12,208 351.28 385.00 355.69 123A 3 Short Plate, short rib 19 28,371 410.00 470.00 446.25 130 4 Chuck, short rib 26 76,309 306.50 340.00 314.94 160 1 Round, bone-in 161 1 Round, boneless 3 2,521 195.00 199.00 196.04

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 40 97,067 204.26 238.50 213.17 168 1 Round, top inside round 10 32,384 195.00 207.28 202.99 168 3 Round, top inside round 14 37,812 211.00 232.00 215.67 169 5 Round, top inside, denuded 19 52,684 236.00 249.72 243.37

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 41 107,384 193.00 215.60 203.59 171C 3 Round, eye of round (IM) 37 105,475 198.00 225.80 204.85 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 95,663 524.72 584.50 559.89 175 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 26 53,114 530.00 624.00 567.81 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 20 46,413 310.10 340.03 332.58 185A 4 Loin, bottom sirloin, flap 13 73,817 450.34 521.00 476.70 185B 1 Loin, ball-tip, bnls, heavy 4 6,026 305.00 320.00 307.81 185C 1 Loin, sirloin, tri-tip (IM) 6 4,097 360.00 391.00 369.97 185D 4 Loin, tri-tip, pld (IM) 13 7,743 490.30 532.00 497.43 189A 4 Loin, tndrloin, trmd, heavy 20 65,226 900.00 941.70 917.10 191A 4 Loin, butt tender, trimmed 9 3,245 890.60 947.00 903.97 193 4 Flank, flank steak (IM) 19 12,406 469.15 496.00 486.99 ------------------------------------------------------------------------------- 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 14 12,419 523.00 555.00 537.67 112A 3 Rib, ribeye, bnls, light 8 28,339 589.65 602.00 599.93 112A 3 Rib, ribeye, bnls, heavy 16 7,683 585.00 624.00 604.80 113C 1 Chuck, semi-bnls, neck/off 8 9,524 199.75 207.50 201.42 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 5 44,540 194.00 201.75 196.85 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 150,250 209.06 232.50 218.88 116B 1 Chuck, chuck tender (IM) 6 15,759 202.00 208.00 203.70

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 8 33,320 200.11 216.70 207.08 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 10 26,880 308.00 340.00 310.66 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 9 11,034 205.68 212.00 207.72 168 1 Round, top inside round 5 44,274 177.73 209.00 179.88 168 3 Round, top inside round 8 32,491 202.75 217.34 207.35 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 12 48,575 193.00 212.80 198.01 171C 3 Round, eye of round (IM) 9 35,059 198.00 210.00 202.96 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 16 27,538 515.00 545.00 528.70 175 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 19 39,354 499.20 555.00 517.97 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 24 68,123 252.00 290.00 268.67 185A 4 Loin, bottom sirloin, flap 5 3,690 480.00 500.00 494.52 185B 1 Loin, ball-tip, bnls, heavy 5 19,623 275.00 285.00 283.20 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 14 14,078 835.00 875.00 862.82 191A 4 Loin, butt tender, trimmed 10 3,166 813.00 880.00 845.06 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 23,114 90.00 115.00 105.85 121D 4 Plate, Inside Skirt (IM) 22 32,675 347.00 396.50 383.54 121C 4 Plate, Outside Skirt (IM) 3 2,568 430.00 465.00 460.06 121E 6 Outside Skirt, pld (IM) 5 30,839 525.00 585.60 542.51

Cap, Wedge Meat & (IM) Lean 22 160,198 211.50 246.00 222.71

Pectoral Meat 20 47,733 214.26 242.80 228.41 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 27 301,162 158.00 184.28 170.32 Ground Beef 75% Ground Beef 81% 19 126,255 175.92 201.28 187.27 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 14 51,730 225.24 262.00 242.96 Ground Beef Chuck 80% 14 144,558 186.00 202.00 194.58 Ground Beef Round 85% 16 59,073 212.00 223.00 221.75 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% Blended Ground Beef 81% 6 65,680 191.25 204.00 201.08 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 16 264,308 98.00 105.84 103.10 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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