USDA Boxed Beef Cutout Midday Prices for October 22

October 22 (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: 199.79 183.37 Change from prior day: 1.50 1.72 ------------------------------------------------------------------------------- Choice/Select spread: 16.42

Total Load Count (Cuts, Trimmings, Grids): 78 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 316.98 263.51 Primal Chuck 170.40 164.41 Primal Round 172.35 171.64 Primal Loin 259.95 219.54 Primal Brisket 135.02 134.28 Primal Short Plate 133.81 136.05 Primal Flank 104.93 104.85 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/21 44 33 28 16 121 198.29 181.65 10/18 82 53 0 17 152 196.29 179.98 10/17 66 34 13 26 139 196.03 181.72 09/30 83 26 20 17 147 193.25 177.61 09/27 75 30 9 32 147 192.63 176.15 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.30 179.42 -------------------------------------------------------------------------------- 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 36.36 loads 1,454,334 pounds Select Cuts 31.03 loads 1,241,180 pounds Trimmings 3.42 loads 136,646 pounds Ground Beef 6.80 load 271,817 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 14 45,798 576.56 642.00 603.34 112A 3 Rib, ribeye, bnls, light 5 11,962 700.00 736.00 713.02 112A 3 Rib, ribeye, bnls, heavy 14 33,332 674.98 729.50 701.84 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 7 49,314 209.00 215.73 210.54 114A 3 Chuck, shoulder clod, trmd 12 18,341 205.00 226.52 219.31 114D 3 Chuck, clod, top blade 4 5,455 265.00 275.00 268.52 114E 3 Chuck, clod, arm roast 5 32,414 250.34 280.00 261.75 114F 5 Chuck, clod tender (IM) 4 4,169 370.50 387.00 374.90 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 13 60,393 272.05 296.00 280.17 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 32 213,245 196.00 214.00 199.96 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 6 12,841 440.00 482.00 467.41 130 4 Chuck, short rib 10 28,651 317.73 366.00 327.69 160 1 Round, bone-in 4 7,510 215.50 226.00 219.89 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 14 139,192 223.00 250.00 229.07 168 1 Round, top inside round 11 176,491 205.02 222.00 209.44 168 3 Round, top inside round 17 80,465 207.00 236.00 218.56 169 5 Round, top inside, denuded 6 5,135 260.00 268.00 264.53

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 37 164,443 237.00 255.00 241.26 171C 3 Round, eye of round (IM) 28 46,924 236.25 266.00 256.22 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 7 10,360 480.00 532.00 500.34 175 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 14 30,702 478.00 524.50 502.51 184 1 Loin, top butt, bnls, heavy 4 3,130 250.00 298.00 253.37 184 3 Loin, top butt, boneless 13 27,876 295.00 324.00 304.93 185A 4 Loin, bottom sirloin, flap 9 15,228 378.00 391.00 388.11 185B 1 Loin, ball-tip, bnls, heavy 3 9,808 240.00 250.00 247.05 185C 1 Loin, sirloin, tri-tip (IM) 9 22,638 275.00 290.00 283.43 185D 4 Loin, tri-tip, pld (IM) 3 3,581 370.00 389.00 371.43 189A 4 Loin, tndrloin, trmd, heavy 16 21,365 1045.00 1197.00 1121.78 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 9 6,170 400.00 435.00 418.49 ------------------------------------------------------------------------------- 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 5,719 465.00 468.00 467.56 112A 3 Rib, ribeye, bnls, light 3 2,500 534.00 545.00 536.92 112A 3 Rib, ribeye, bnls, heavy 14 36,725 515.00 559.00 530.84 113C 1 Chuck, semi-bnls, neck/off 4 3,350 216.75 230.00 221.09 114 1 Chuck, shoulder clod 4 56,984 205.00 210.50 209.72 114A 3 Chuck, shoulder clod, trmd 11 111,184 215.00 225.14 215.79 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 16,765 285.00 295.00 289.65 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 20 321,642 255.77 280.00 263.31 116B 1 Chuck, chuck tender (IM) 4 5,994 229.00 245.00 238.29

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 135,365 195.00 209.00 195.63 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 5 1,237 335.00 340.00 338.72 160 1 Round, bone-in 161 1 Round, boneless 3 2,687 223.50 242.00 237.80

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 9 54,146 223.00 238.00 226.06 168 1 Round, top inside round 7 77,490 204.72 221.00 210.38 168 3 Round, top inside round 5 30,753 225.48 231.58 230.74 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 10 73,921 229.00 254.90 237.64 171C 3 Round, eye of round (IM) 8 8,579 250.00 256.00 254.05 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 8 12,332 401.50 421.00 411.91 175 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 11 26,752 380.00 437.00 420.36 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 6 42,837 240.00 265.00 255.50 185A 4 Loin, bottom sirloin, flap 9 8,862 380.00 404.50 386.45 185B 1 Loin, ball-tip, bnls, heavy 9 79,953 245.00 261.79 259.87 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 8 7,869 825.00 940.00 837.11 191A 4 Loin, butt tender, trimmed 3 1,198 819.50 830.00 822.38 193 4 Flank, flank steak (IM) 7 17,016 369.00 414.85 380.65 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 5 12,244 310.00 335.08 314.82 121C 4 Plate, Outside Skirt (IM) 6 6,298 380.00 408.50 385.22 121E 6 Outside Skirt, pld (IM) 3 3,354 560.00 573.64 563.55

Cap, Wedge Meat & (IM) Lean 23 65,780 255.00 281.00 259.83

Pectoral Meat 13 8,106 250.50 285.00 270.16 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 11 109,583 155.00 182.00 165.20 Ground Beef 75% 0 0 Ground Beef 81% 10 67,710 171.00 192.00 179.73 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 0 0 Ground Beef Chuck 80% 6 50,418 185.00 206.50 191.70 Ground Beef Round 85% 7 24,106 214.60 228.50 220.39 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% 4 14,000 189.75 208.00 201.90 Blended Ground Beef 85% 0 0 Blended Ground Beef 90% 0 0 Blended Ground Beef 93% 0 0 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 8 136,646 100.00 107.00 104.28 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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