USDA Boxed Beef Cutout Midday Prices for August 1

August 1 (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: 186.16 181.93 Change from prior day: (0.16) 0.28 ------------------------------------------------------------------------------- Choice/Select spread: 4.22

Total Load Count (Cuts, Trimmings, Grids): 107 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 282.07 268.23 Primal Chuck 154.95 155.82 Primal Round 156.86 156.79 Primal Loin 245.12 231.68 Primal Brisket 138.72 137.43 Primal Short Plate 143.36 144.87 Primal Flank 123.49 120.71 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/31 112 58 9 34 213 186.32 181.65 07/30 69 53 1 19 142 186.78 181.66 07/29 70 32 14 11 127 186.41 182.22 07/26 67 37 7 24 135 187.15 182.71 07/25 82 48 14 27 171 187.66 182.70 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 186.86 182.19 -------------------------------------------------------------------------------- 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 50.54 loads 2,021,748 pounds Select Cuts 30.44 loads 1,217,508 pounds Trimmings 6.53 loads 261,294 pounds Ground Beef 19.24 load 769,657 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 35,701 515.00 554.50 530.12 112A 3 Rib, ribeye, bnls, light 4 7,524 600.00 625.00 614.06 112A 3 Rib, ribeye, bnls, heavy 44 111,479 575.00 613.00 587.97 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 11 30,740 182.00 188.00 185.53 114A 3 Chuck, shoulder clod, trmd 17 64,350 191.89 209.00 197.23 114D 3 Chuck, clod, top blade 6 9,716 270.00 310.00 281.93 114E 3 Chuck, clod, arm roast 6 7,027 220.00 235.00 226.82 114F 5 Chuck, clod tender (IM) 10 14,587 407.00 445.00 416.69 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 29 324,628 220.00 232.00 223.59 116B 1 Chuck, chuck tender (IM) 13 19,600 202.00 217.00 205.81

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 30 96,882 197.00 217.00 203.73 120A 3 Brisket, point/off, bnls 8 3,867 341.00 375.10 362.59 123A 3 Short Plate, short rib 5 12,525 420.00 445.00 440.46 130 4 Chuck, short rib 9 17,060 311.00 345.00 324.45 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 28 120,993 210.00 234.10 217.34 168 1 Round, top inside round 23 166,209 184.30 204.00 191.91 168 3 Round, top inside round 20 146,938 203.00 216.00 206.53 169 5 Round, top inside, denuded 12 31,267 225.00 250.00 232.99

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 8,103 179.54 195.50 186.37 171B 3 Round, outside round 25 133,508 195.00 210.50 199.81 171C 3 Round, eye of round (IM) 30 104,595 198.40 215.00 201.69 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 13 50,352 424.57 465.00 430.52 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 6 12,209 410.00 420.00 413.64 180 3 Loin, strip, bnls, 0x1 23 86,875 470.00 503.00 472.93 184 1 Loin, top butt, bnls, heavy 12 19,908 290.00 304.00 294.04 184 3 Loin, top butt, boneless 13 64,787 304.27 335.15 313.60 185A 4 Loin, bottom sirloin, flap 25 61,706 339.00 373.00 352.44 185B 1 Loin, ball-tip, bnls, heavy 10 21,809 222.00 241.50 224.27 185C 1 Loin, sirloin, tri-tip (IM) 7 10,168 250.00 263.00 257.81 185D 4 Loin, tri-tip, pld (IM) 5 7,290 355.00 389.00 363.70 189A 4 Loin, tndrloin, trmd, heavy 28 82,014 880.00 951.56 902.23 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 20 26,417 461.00 488.00 474.80 ------------------------------------------------------------------------------- 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 8 4,802 480.69 522.00 511.89 112A 3 Rib, ribeye, bnls, light 5 7,427 550.00 580.00 561.74 112A 3 Rib, ribeye, bnls, heavy 46 87,494 540.18 592.00 565.92 113C 1 Chuck, semi-bnls, neck/off 6 9,207 199.61 205.00 204.22 114 1 Chuck, shoulder clod 5 18,932 182.00 188.00 186.64 114A 3 Chuck, shoulder clod, trmd 6 15,984 197.00 200.50 197.46 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 10 12,843 365.00 380.00 369.68 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 19 65,126 212.62 226.00 222.43 116B 1 Chuck, chuck tender (IM) 12 68,994 202.00 210.00 203.38

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 11 25,852 198.00 203.60 201.73 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 14 39,183 208.00 226.00 215.15 168 1 Round, top inside round 30 115,937 185.00 201.00 190.83 168 3 Round, top inside round 7 16,172 201.00 211.00 207.30 169 5 Round, top inside, denuded 7 11,946 225.00 244.00 230.29

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 15 73,463 198.00 210.50 201.14 171C 3 Round, eye of round (IM) 16 31,749 199.00 210.50 201.32 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 13,481 440.00 475.00 465.66 175 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 6 10,396 465.00 484.50 467.03 184 1 Loin, top butt, bnls, heavy 14 38,325 240.00 255.00 247.58 184 3 Loin, top butt, boneless 17 27,411 258.79 272.00 266.80 185A 4 Loin, bottom sirloin, flap 11 198,425 312.47 342.00 319.43 185B 1 Loin, ball-tip, bnls, heavy 4 4,282 219.00 233.42 226.93 185C 1 Loin, sirloin, tri-tip (IM) 8 3,365 241.00 265.50 251.03 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 28 52,246 843.34 898.00 854.52 191A 4 Loin, butt tender, trimmed 4 41,130 790.90 790.90 790.90 193 4 Flank, flank steak (IM) 7 7,100 440.34 470.00 449.94 ------------------------------------------------------------------------------- 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) 9 14,352 380.00 397.00 382.48 121C 4 Plate, Outside Skirt (IM) 9 29,108 371.00 493.00 450.36 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 34 106,523 225.00 249.20 231.22

Pectoral Meat 17 24,430 230.00 256.00 237.29 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 13 60,349 161.00 170.49 166.55 Ground Beef 75% 0 0 Ground Beef 81% 28 177,487 171.10 198.74 176.17 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 4 2,121 236.18 252.00 238.84 Ground Beef Chuck 80% 13 141,333 176.00 186.00 177.37 Ground Beef Round 85% 8 23,667 211.00 216.00 213.83 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- 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 5,252 180.00 188.00 185.22 Blended Ground Beef 85% Blended Ground Beef 90% 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 9 212,924 109.19 115.00 110.82 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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