USDA Boxed Beef Cutout Closing Prices for August 23

August 23 (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: 196.19 184.09 Change from prior day: 0.35 (1.19) ------------------------------------------------------------------------------- Choice/Select spread: 12.10

Total Load Count (Cuts, Trimmings, Grids): 153 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 307.86 271.09 Primal Chuck 167.23 161.59 Primal Round 166.35 165.39 Primal Loin 252.94 224.79 Primal Brisket 141.84 138.68 Primal Short Plate 138.36 140.48 Primal Flank 120.73 117.97 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/22 54 43 3 13 113 195.84 185.28 08/21 81 69 10 35 195 195.46 184.44 08/20 67 59 6 18 150 195.60 184.82 08/19 39 41 12 18 110 195.22 186.15 08/16 68 39 9 14 130 194.39 186.39 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.30 185.41 -------------------------------------------------------------------------------- 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 65.50 loads 2,619,998 pounds Select Cuts 54.12 loads 2,164,829 pounds Trimmings 17.58 loads 703,361 pounds Ground Beef 15.77 load 630,913 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 28 136,469 589.86 622.00 596.89 112A 3 Rib, ribeye, bnls, light 7 19,130 654.00 690.00 676.29 112A 3 Rib, ribeye, bnls, heavy 48 130,357 610.00 690.00 673.11 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 12 54,108 188.00 207.00 199.35 114A 3 Chuck, shoulder clod, trmd 15 43,722 197.00 218.26 209.82 114D 3 Chuck, clod, top blade 11 35,057 249.08 294.75 267.50 114E 3 Chuck, clod, arm roast 13 54,901 230.95 255.60 238.85 114F 5 Chuck, clod tender (IM) 15 17,947 395.00 425.50 408.46 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 37 144,964 227.00 257.00 246.92 116B 1 Chuck, chuck tender (IM) 11 23,366 215.00 230.60 225.90

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 29 111,878 201.00 221.00 207.76 120A 3 Brisket, point/off, bnls 10 9,324 350.00 387.00 375.96 123A 3 Short Plate, short rib 18 55,396 422.59 471.00 436.16 130 4 Chuck, short rib 16 41,796 309.00 351.73 322.58 160 1 Round, bone-in 4 30,227 190.00 209.00 196.81 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 43 193,114 229.74 249.00 237.08 168 1 Round, top inside round 7 29,994 200.00 221.50 205.65 168 3 Round, top inside round 22 188,868 203.00 225.00 212.50 169 5 Round, top inside, denuded 30 133,104 241.25 261.67 249.45

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 35 112,525 210.00 235.60 223.31 171C 3 Round, eye of round (IM) 47 108,329 210.00 230.50 219.73 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 26 109,830 456.50 502.00 476.51 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 4 14,751 423.00 447.00 444.12 180 3 Loin, strip, bnls, 0x1 53 194,364 490.00 539.46 516.68 184 1 Loin, top butt, bnls, heavy 7 7,505 294.00 315.00 300.22 184 3 Loin, top butt, boneless 40 188,659 328.00 347.00 334.07 185A 4 Loin, bottom sirloin, flap 14 21,967 332.62 361.04 345.60 185B 1 Loin, ball-tip, bnls, heavy 13 51,687 200.00 222.00 214.39 185C 1 Loin, sirloin, tri-tip (IM) 10 6,217 240.54 281.00 269.50 185D 4 Loin, tri-tip, pld (IM) 11 12,797 358.46 377.00 365.50 189A 4 Loin, tndrloin, trmd, heavy 44 105,641 900.00 1005.00 949.17 191A 4 Loin, butt tender, trimmed 3 2,444 905.60 905.60 905.60 193 4 Flank, flank steak (IM) 13 14,822 450.19 473.00 466.72 ------------------------------------------------------------------------------- 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 112A 3 Rib, ribeye, bnls, light 8 49,492 541.00 590.00 580.08 112A 3 Rib, ribeye, bnls, heavy 24 29,594 560.00 605.00 572.56 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 13 207,912 187.00 206.00 192.53 114A 3 Chuck, shoulder clod, trmd 9 75,406 196.75 213.00 208.75 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 7 16,581 336.90 365.80 355.43 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 28 250,840 231.00 252.00 233.83 116B 1 Chuck, chuck tender (IM) 7 26,261 223.00 235.50 224.88

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 7 18,556 193.00 213.00 200.30 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 15 69,454 385.00 461.00 402.92 130 4 Chuck, short rib 3 4,747 309.00 326.00 313.21 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 9 13,982 229.10 241.50 233.81 168 1 Round, top inside round 6 36,182 195.54 207.00 203.34 168 3 Round, top inside round 10 51,861 213.50 229.00 217.35 169 5 Round, top inside, denuded 3 1,328 243.00 260.50 251.81

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 1,259 206.00 211.00 208.14 171B 3 Round, outside round 10 26,274 207.59 230.00 219.33 171C 3 Round, eye of round (IM) 17 46,336 211.00 231.50 216.34 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 9,985 411.00 476.00 424.13 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 9 16,011 384.00 438.75 397.73 184 1 Loin, top butt, bnls, heavy 8 34,406 237.00 249.65 238.65 184 3 Loin, top butt, boneless 10 41,803 246.16 275.20 255.02 185A 4 Loin, bottom sirloin, flap 7 93,119 330.00 350.00 331.94 185B 1 Loin, ball-tip, bnls, heavy 18 64,176 198.00 222.00 203.00 185C 1 Loin, sirloin, tri-tip (IM) 10 42,358 230.00 251.77 240.20 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 22 201,387 840.00 929.00 853.84 191A 4 Loin, butt tender, trimmed 3 3,604 800.00 830.50 828.11 193 4 Flank, flank steak (IM) 6 8,616 439.59 453.00 443.79 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 13 388,609 80.00 107.00 80.04 121D 4 Plate, Inside Skirt (IM) 10 32,868 359.00 392.00 365.13 121C 4 Plate, Outside Skirt (IM) 18 59,521 368.00 451.46 379.62 121E 6 Outside Skirt, pld (IM) 4 9,027 540.00 545.60 545.49

Cap, Wedge Meat & (IM) Lean 35 198,409 229.00 255.50 233.08

Pectoral Meat 14 37,572 232.00 257.80 246.24 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 15 121,530 165.68 187.29 174.38 Ground Beef 75% Ground Beef 81% 16 231,592 177.00 198.00 191.50 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 5 13,667 222.50 243.50 227.04 Ground Beef Chuck 80% 12 46,054 180.00 209.00 198.42 Ground Beef Round 85% 6 113,371 210.75 217.00 211.77 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% 6 38,540 196.25 211.00 197.39 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 18 696,361 100.85 109.77 102.87 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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