USDA Boxed Beef Cutout Midday Prices for August 28

August 28 (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: 196.74 185.17 Change from prior day: 0.65 (0.47) ------------------------------------------------------------------------------- Choice/Select spread: 11.57

Total Load Count (Cuts, Trimmings, Grids): 124 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 310.05 273.69 Primal Chuck 167.12 163.84 Primal Round 166.44 165.15 Primal Loin 253.34 223.36 Primal Brisket 140.67 140.04 Primal Short Plate 143.20 146.27 Primal Flank 119.11 117.93 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/27 69 53 4 16 142 196.09 185.64 08/26 42 37 5 23 107 195.80 184.14 08/23 66 54 18 16 153 196.19 184.09 08/22 54 43 3 13 113 195.84 185.28 08/21 81 69 10 35 195 195.46 184.44 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.87 184.72 -------------------------------------------------------------------------------- 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 45.13 loads 1,805,382 pounds Select Cuts 44.93 loads 1,797,129 pounds Trimmings 5.14 loads 205,497 pounds Ground Beef 28.82 load 1,152,763 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 19 16,538 605.00 624.00 609.86 112A 3 Rib, ribeye, bnls, light 27 52,923 670.00 711.00 679.71 112A 3 Rib, ribeye, bnls, heavy 51 67,087 657.00 708.00 676.87 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 11 73,101 190.70 205.00 195.04 114A 3 Chuck, shoulder clod, trmd 44 143,594 197.00 221.50 206.46 114D 3 Chuck, clod, top blade 3 5,673 267.28 275.00 268.95 114E 3 Chuck, clod, arm roast 5 10,608 240.00 270.00 258.59 114F 5 Chuck, clod tender (IM) 11 11,642 405.00 420.00 410.45 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 53 98,878 239.05 260.05 246.75 116B 1 Chuck, chuck tender (IM) 32 20,236 221.98 233.84 225.20

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 66 196,504 202.00 222.17 205.96 120A 3 Brisket, point/off, bnls 13 8,610 365.00 385.00 381.26 123A 3 Short Plate, short rib 25 40,908 440.00 465.00 444.59 130 4 Chuck, short rib 27 36,062 310.00 346.00 329.00 160 1 Round, bone-in 161 1 Round, boneless 3 1,035 206.00 212.00 208.00

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 58 103,812 225.00 241.00 234.52 168 1 Round, top inside round 40 75,003 201.70 210.00 205.50 168 3 Round, top inside round 18 52,009 210.00 222.00 213.25 169 5 Round, top inside, denuded 19 38,799 249.00 261.50 249.04

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 1,627 204.00 212.00 205.97 171B 3 Round, outside round 44 109,598 205.00 231.00 214.21 171C 3 Round, eye of round (IM) 36 80,879 210.00 232.50 216.49 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 21 22,035 475.39 508.00 486.18 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 14 15,815 440.00 481.00 448.48 180 3 Loin, strip, bnls, 0x1 55 94,672 488.00 546.00 512.59 184 1 Loin, top butt, bnls, heavy 14 12,652 295.00 320.00 300.10 184 3 Loin, top butt, boneless 44 24,422 325.00 345.50 335.90 185A 4 Loin, bottom sirloin, flap 39 72,669 340.00 380.00 346.40 185B 1 Loin, ball-tip, bnls, heavy 23 35,665 210.00 220.00 217.67 185C 1 Loin, sirloin, tri-tip (IM) 15 9,089 250.00 279.50 261.22 185D 4 Loin, tri-tip, pld (IM) 12 16,262 355.00 374.00 367.69 189A 4 Loin, tndrloin, trmd, heavy 57 37,035 943.00 1000.00 958.54 191A 4 Loin, butt tender, trimmed 4 1,067 950.00 950.00 950.00 193 4 Flank, flank steak (IM) 13 27,911 437.00 470.00 445.44 ------------------------------------------------------------------------------- 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 17 48,495 502.00 534.99 505.74 112A 3 Rib, ribeye, bnls, light 20 89,212 548.00 590.00 561.30 112A 3 Rib, ribeye, bnls, heavy 40 118,098 541.50 580.00 564.08 113C 1 Chuck, semi-bnls, neck/off 9 24,053 205.00 217.00 208.97 114 1 Chuck, shoulder clod 9 26,896 183.42 203.00 200.31 114A 3 Chuck, shoulder clod, trmd 20 66,468 200.15 212.00 207.10 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 8,319 350.00 365.00 353.38 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 35 231,682 233.68 245.98 236.63 116B 1 Chuck, chuck tender (IM) 14 67,102 209.00 234.00 212.93

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 20 95,794 202.00 210.00 204.87 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 1,418 397.00 410.00 402.39 130 4 Chuck, short rib 6 6,717 334.75 345.00 337.61 160 1 Round, bone-in 161 1 Round, boneless 4 4,607 208.00 221.00 212.66

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 18 26,405 232.00 241.00 235.28 168 1 Round, top inside round 23 50,139 201.00 210.00 204.40 168 3 Round, top inside round 17 106,211 210.67 222.00 214.02 169 5 Round, top inside, denuded 7 12,053 249.00 255.50 249.88

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 22 93,741 205.00 230.98 211.10 171C 3 Round, eye of round (IM) 16 98,685 214.00 231.00 221.85 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 25 62,862 400.00 450.00 431.97 175 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 20 55,794 361.50 431.00 379.55 184 1 Loin, top butt, bnls, heavy 13 13,688 235.00 250.00 240.26 184 3 Loin, top butt, boneless 29 67,025 248.10 284.58 254.05 185A 4 Loin, bottom sirloin, flap 7 8,508 333.00 341.00 336.48 185B 1 Loin, ball-tip, bnls, heavy 19 67,116 196.67 216.98 203.98 185C 1 Loin, sirloin, tri-tip (IM) 14 41,207 237.68 250.00 242.63 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 24 33,850 849.00 926.00 859.00 191A 4 Loin, butt tender, trimmed 4 4,466 825.00 842.80 830.05 193 4 Flank, flank steak (IM) 6 20,229 437.00 455.00 442.64 ------------------------------------------------------------------------------- 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) 15 47,941 358.00 395.50 361.41 121C 4 Plate, Outside Skirt (IM) 13 18,787 378.00 480.00 408.19 121E 6 Outside Skirt, pld (IM) 3 18,157 545.00 570.00 550.67

Cap, Wedge Meat & (IM) Lean 35 100,370 229.90 251.00 237.98

Pectoral Meat 24 33,938 235.00 255.00 247.98 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 25 94,863 178.00 185.00 180.31 Ground Beef 75% Ground Beef 81% 67 360,252 188.14 209.00 195.38 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 24 135,348 221.31 255.50 231.83 Ground Beef Chuck 80% 43 145,074 180.00 212.00 201.64 Ground Beef Round 85% 37 210,782 214.00 233.00 218.60 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% 0 0 Blended Ground Beef 81% 9 53,135 195.10 211.05 203.64 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% 0 0 Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 7 205,497 103.00 113.50 106.54 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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