USDA Boxed Beef Cutout Midday Prices for October 21

October 21 (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: 197.98 181.02 Change from prior day: 1.69 1.04 ------------------------------------------------------------------------------- Choice/Select spread: 16.96

Total Load Count (Cuts, Trimmings, Grids): 77 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 316.67 260.90 Primal Chuck 166.35 161.00 Primal Round 171.12 170.21 Primal Loin 258.83 216.83 Primal Brisket 133.79 133.51 Primal Short Plate 132.62 135.03 Primal Flank 107.21 103.41 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/18 82 53 0 17 152 196.29 179.98 10/17 66 34 13 26 139 196.03 181.72

-------------------------------------------------------------------------------- Current 5 Day Simple Average: N/A -------------------------------------------------------------------------------- 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 28.06 loads 1,122,539 pounds Select Cuts 18.45 loads 738,078 pounds Trimmings 16.89 loads 675,502 pounds Ground Beef 13.36 load 534,466 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 12 49,851 576.56 621.51 599.97 112A 3 Rib, ribeye, bnls, light 5 9,810 674.00 720.00 684.72 112A 3 Rib, ribeye, bnls, heavy 17 39,486 660.00 725.00 680.35 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 8 15,290 200.00 210.02 207.57 114A 3 Chuck, shoulder clod, trmd 6 6,582 214.00 221.50 217.54 114D 3 Chuck, clod, top blade 4 17,421 243.41 270.00 246.09 114E 3 Chuck, clod, arm roast 10 23,393 235.02 265.00 238.19 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 12 94,685 273.23 294.00 290.18 116B 1 Chuck, chuck tender (IM) 7 10,161 226.84 245.00 229.95

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 13,739 195.00 208.50 201.05 120A 3 Brisket, point/off, bnls 3 4,325 362.50 370.00 366.89 123A 3 Short Plate, short rib 19 44,956 438.20 475.00 448.50 130 4 Chuck, short rib 6 4,387 335.00 340.00 338.38 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 23 134,794 227.00 240.01 231.69 168 1 Round, top inside round 15 153,400 192.50 220.00 205.32 168 3 Round, top inside round 8 23,083 206.00 234.50 223.88 169 5 Round, top inside, denuded 9 47,920 245.02 254.00 247.41

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 13 39,941 232.73 262.01 251.91 171C 3 Round, eye of round (IM) 14 41,409 245.00 262.50 254.59 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 6 10,985 481.20 519.50 485.64 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 14 37,843 478.09 519.50 496.94 184 1 Loin, top butt, bnls, heavy 6 2,570 276.25 299.00 283.46 184 3 Loin, top butt, boneless 9 66,362 290.41 325.00 300.49 185A 4 Loin, bottom sirloin, flap 10 70,295 368.00 393.00 376.29 185B 1 Loin, ball-tip, bnls, heavy 8 14,955 238.00 255.00 241.16 185C 1 Loin, sirloin, tri-tip (IM) 7 5,148 263.30 280.00 271.33 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 13 17,229 1025.00 1100.00 1044.43 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- 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 6 15,205 460.00 471.20 463.02 112A 3 Rib, ribeye, bnls, light 8 35,511 521.31 529.50 527.07 112A 3 Rib, ribeye, bnls, heavy 15 69,202 500.29 550.00 529.42 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 8 40,671 187.00 214.50 207.47 114A 3 Chuck, shoulder clod, trmd 8 42,153 209.41 218.00 215.11 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 1,911 283.00 300.00 289.42 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 9 35,665 270.00 280.00 277.13 116B 1 Chuck, chuck tender (IM) 3 6,964 226.84 246.50 237.32

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 4 33,643 193.00 200.29 195.90 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 7,010 430.00 470.00 465.06 130 4 Chuck, short rib 0 0 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 6 25,866 227.00 244.00 230.97 168 1 Round, top inside round 6 143,926 205.02 220.00 205.28 168 3 Round, top inside round 7 5,091 217.00 237.00 220.55 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 5 3,350 229.50 255.80 234.30 171C 3 Round, eye of round (IM) 10 58,577 241.50 254.50 249.45 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 7 10,901 385.00 420.00 410.40 184 1 Loin, top butt, bnls, heavy 3 9,228 229.70 248.00 237.31 184 3 Loin, top butt, boneless 4 17,557 250.00 265.00 257.77 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 4 20,735 230.00 250.55 249.27 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 3 3,966 838.00 896.00 878.80 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 5,841 396.84 425.00 407.23 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 8,241 75.00 90.00 87.63 121D 4 Plate, Inside Skirt (IM) 9 22,202 309.00 340.00 318.91 121C 4 Plate, Outside Skirt (IM) 8 24,182 375.00 400.00 386.51 121E 6 Outside Skirt, pld (IM) 3 8,779 550.00 560.00 558.31

Cap, Wedge Meat & (IM) Lean 16 51,624 245.67 275.00 263.18

Pectoral Meat 13 19,916 245.00 287.80 261.43 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 3 17,771 163.60 169.50 165.52 Ground Beef 75% Ground Beef 81% 12 94,506 175.00 189.00 178.48 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 13 247,044 169.00 194.80 188.45 Ground Beef Round 85% 4 65,626 200.00 216.00 212.35 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% 0 0 Blended Ground Beef 75% 0 0 Blended Ground Beef 81% 6 35,000 188.00 211.00 209.18 Blended Ground Beef 85% Blended Ground Beef 90% 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 20 675,502 90.00 107.86 101.88 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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