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USDA Boxed Beef Cutout Midday Prices for September 3

September 3 (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: 196.05 182.68 Change from prior day: 0.38 0.02 ------------------------------------------------------------------------------- Choice/Select spread: 13.37

Total Load Count (Cuts, Trimmings, Grids): 88 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 312.27 267.83 Primal Chuck 164.85 160.61 Primal Round 166.30 163.82 Primal Loin 252.81 221.39 Primal Brisket 138.11 137.25 Primal Short Plate 142.69 145.83 Primal Flank 120.02 118.23 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/30 76 43 9 12 140 195.67 182.66 08/29 60 40 8 27 135 195.71 183.20 08/28 71 67 15 35 188 196.28 184.40 08/27 69 53 4 16 142 196.09 185.64 08/26 42 37 5 23 107 195.80 184.14 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.91 184.01 -------------------------------------------------------------------------------- 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 41.97 loads 1,678,610 pounds Select Cuts 27.00 loads 1,080,084 pounds Trimmings 11.28 loads 451,229 pounds Ground Beef 7.78 load 311,293 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 51,955 587.00 636.00 592.84 112A 3 Rib, ribeye, bnls, light 14 62,311 669.50 738.00 716.44 112A 3 Rib, ribeye, bnls, heavy 28 30,660 655.00 686.28 672.60 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 23 172,732 197.64 219.26 206.57 114D 3 Chuck, clod, top blade 6 10,163 241.00 279.75 255.44 114E 3 Chuck, clod, arm roast 16 48,873 225.00 265.00 244.27 114F 5 Chuck, clod tender (IM) 7 6,462 410.00 415.60 411.21 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 208,808 234.50 265.78 242.27 116B 1 Chuck, chuck tender (IM) 12 22,641 215.00 228.02 224.94

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 22 63,388 197.00 220.00 204.73 120A 3 Brisket, point/off, bnls 3 2,006 365.28 385.00 381.11 123A 3 Short Plate, short rib 19 20,619 425.00 470.00 452.46 130 4 Chuck, short rib 15 32,454 324.00 345.00 328.44 160 1 Round, bone-in 3 3,516 202.00 213.00 205.45 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 34 94,228 233.00 242.00 237.06 168 1 Round, top inside round 20 46,950 200.00 210.28 201.79 168 3 Round, top inside round 5 7,998 206.78 217.00 211.36 169 5 Round, top inside, denuded 19 123,932 245.00 258.50 249.73

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 2,463 202.00 211.00 204.75 171B 3 Round, outside round 8 16,111 204.00 226.00 214.73 171C 3 Round, eye of round (IM) 23 75,598 211.00 230.00 219.71 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 18 46,472 478.00 506.00 481.92 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 4 5,155 445.00 467.00 447.56 180 3 Loin, strip, bnls, 0x1 23 97,140 484.50 541.00 521.06 184 1 Loin, top butt, bnls, heavy 11 10,251 292.50 331.78 305.41 184 3 Loin, top butt, boneless 13 62,634 322.00 341.00 329.28 185A 4 Loin, bottom sirloin, flap 12 29,438 334.20 352.50 342.75 185B 1 Loin, ball-tip, bnls, heavy 14 31,006 214.00 221.28 219.06 185C 1 Loin, sirloin, tri-tip (IM) 10 12,413 250.00 275.00 256.81 185D 4 Loin, tri-tip, pld (IM) 3 1,125 360.00 380.28 363.08 189A 4 Loin, tndrloin, trmd, heavy 30 117,655 953.00 1041.00 969.57 191A 4 Loin, butt tender, trimmed 5 2,343 880.94 950.00 893.55 193 4 Flank, flank steak (IM) 12 24,091 451.75 477.00 464.19 ------------------------------------------------------------------------------- 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 10 9,094 467.64 531.00 501.98 112A 3 Rib, ribeye, bnls, light 6 5,780 549.62 578.00 570.30 112A 3 Rib, ribeye, bnls, heavy 21 136,187 532.02 574.00 547.57 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 16 194,894 190.65 211.33 198.97 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 6,166 346.05 360.00 353.43 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 22 86,247 225.07 246.10 235.48 116B 1 Chuck, chuck tender (IM) 8 31,826 223.00 231.00 224.62

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 6 10,110 206.75 227.70 212.75 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 4,175 430.00 465.00 454.08 130 4 Chuck, short rib 4 6,570 321.00 335.00 330.01 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 6 18,144 233.00 237.00 236.20 168 1 Round, top inside round 5 12,136 200.00 207.00 201.93 168 3 Round, top inside round 5 32,658 206.64 217.00 208.12 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 3,787 189.50 213.00 201.00 171B 3 Round, outside round 6 20,554 206.00 226.00 215.12 171C 3 Round, eye of round (IM) 8 19,111 214.90 225.00 219.66 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 8 9,599 399.00 450.00 420.24 175 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 8 25,596 369.50 408.00 393.01 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 6 8,915 250.00 271.20 264.27 185A 4 Loin, bottom sirloin, flap 3 37,611 332.67 340.00 332.91 185B 1 Loin, ball-tip, bnls, heavy 16 139,552 185.00 210.00 201.24 185C 1 Loin, sirloin, tri-tip (IM) 8 69,702 240.00 245.00 243.79 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 8 5,039 850.00 885.50 864.70 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 6 6,142 430.00 460.00 449.28 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 10,522 87.00 100.00 99.72 121D 4 Plate, Inside Skirt (IM) 17 28,162 351.00 390.00 368.43 121C 4 Plate, Outside Skirt (IM) 11 54,219 378.00 460.00 404.98 121E 6 Outside Skirt, pld (IM) 11 25,221 538.00 562.00 547.87

Cap, Wedge Meat & (IM) Lean 15 59,566 230.00 247.00 241.86

Pectoral Meat 12 24,393 240.00 259.28 244.98 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 6 29,270 173.00 183.00 176.39 Ground Beef 75% 0 0 Ground Beef 81% 14 66,374 180.00 200.00 192.20 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 4 14,206 229.17 255.28 235.28 Ground Beef Chuck 80% 8 60,955 190.07 207.00 198.58 Ground Beef Round 85% 7 19,788 216.17 223.00 217.72 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 97,600 197.75 215.00 212.89 Blended Ground Beef 85% 0 0 Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 Blended Ground Beef Round 85% 0 0 Blended Ground Beef Sirloin 90% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 17 395,799 94.00 111.00 106.47 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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