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USDA Boxed Beef Cutout Closing Prices for October 24

October 24 (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: 201.07 185.68 Change from prior day: 0.28 0.77 ------------------------------------------------------------------------------- Choice/Select spread: 15.39

Total Load Count (Cuts, Trimmings, Grids): 148 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 317.06 264.84 Primal Chuck 173.64 168.04 Primal Round 174.43 173.36 Primal Loin 257.02 221.58 Primal Brisket 136.36 134.18 Primal Short Plate 137.49 138.96 Primal Flank 108.78 106.50 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/23 79 62 5 36 181 200.79 184.91 10/22 80 49 10 12 151 199.33 183.03 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 198.14 182.26 -------------------------------------------------------------------------------- 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 70.81 loads 2,832,590 pounds Select Cuts 46.98 loads 1,879,087 pounds Trimmings 11.80 loads 472,023 pounds Ground Beef 18.76 load 750,342 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 7,074 607.96 652.00 627.88 112A 3 Rib, ribeye, bnls, light 7 54,438 679.00 720.00 692.37 112A 3 Rib, ribeye, bnls, heavy 35 110,530 676.00 728.00 697.05 113C 1 Chuck, semi-bnls, neck/off 3 9,688 220.30 232.85 232.43 114 1 Chuck, shoulder clod 16 31,935 200.00 226.00 209.53 114A 3 Chuck, shoulder clod, trmd 33 178,900 201.00 232.00 219.64 114D 3 Chuck, clod, top blade 6 6,235 258.60 274.75 260.06 114E 3 Chuck, clod, arm roast 9 11,754 240.00 285.00 261.22 114F 5 Chuck, clod tender (IM) 7 3,954 355.00 381.00 370.17 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 20 86,268 242.00 301.55 276.15 116B 1 Chuck, chuck tender (IM) 10 16,227 235.00 245.30 240.96

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 48 382,927 189.76 211.00 200.34 120A 3 Brisket, point/off, bnls 12 24,373 365.00 386.00 372.03 123A 3 Short Plate, short rib 13 13,636 425.00 475.00 450.63 130 4 Chuck, short rib 9 21,052 320.00 354.00 333.75 160 1 Round, bone-in 161 1 Round, boneless 5 14,084 210.41 236.00 232.40

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 59 296,283 223.00 249.70 236.50 168 1 Round, top inside round 17 44,154 198.00 228.00 213.38 168 3 Round, top inside round 39 128,905 214.00 240.00 227.86 169 5 Round, top inside, denuded 10 16,445 258.00 275.00 263.06

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 6,892 215.00 224.00 218.57 171B 3 Round, outside round 21 90,187 217.00 253.56 237.88 171C 3 Round, eye of round (IM) 37 111,285 249.78 271.00 258.68 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 15 27,240 470.82 525.50 481.25 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 9 17,940 429.40 440.00 432.77 180 3 Loin, strip, bnls, 0x1 56 379,600 477.99 528.00 488.42 184 1 Loin, top butt, bnls, heavy 10 16,109 270.00 288.00 275.91 184 3 Loin, top butt, boneless 40 289,512 270.41 321.00 293.66 185A 4 Loin, bottom sirloin, flap 29 150,816 348.00 390.00 373.72 185B 1 Loin, ball-tip, bnls, heavy 11 40,543 240.00 262.00 259.57 185C 1 Loin, sirloin, tri-tip (IM) 7 6,346 250.00 291.73 270.27 185D 4 Loin, tri-tip, pld (IM) 8 16,089 369.00 396.01 377.59 189A 4 Loin, tndrloin, trmd, heavy 21 101,957 1030.00 1229.00 1078.14 191A 4 Loin, butt tender, trimmed 5 1,073 1000.00 1100.00 1022.12 193 4 Flank, flank steak (IM) 11 10,224 395.00 441.00 411.71 ------------------------------------------------------------------------------- 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 26,247 450.29 501.90 454.62 112A 3 Rib, ribeye, bnls, light 4 40,042 524.00 530.00 525.30 112A 3 Rib, ribeye, bnls, heavy 19 84,317 521.57 576.00 532.91 113C 1 Chuck, semi-bnls, neck/off 5 13,627 219.41 232.85 225.11 114 1 Chuck, shoulder clod 10 62,229 205.00 217.50 210.03 114A 3 Chuck, shoulder clod, trmd 17 59,859 201.00 228.00 210.89 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 7 13,693 280.00 304.00 286.59 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 29 126,934 233.00 285.00 247.55 116B 1 Chuck, chuck tender (IM) 8 59,406 230.00 245.00 234.50

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 20 373,041 193.00 215.00 194.96 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 5,602 420.96 476.00 448.37 130 4 Chuck, short rib 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 27 237,411 223.00 243.17 229.87 168 1 Round, top inside round 24 56,548 198.00 233.00 215.37 168 3 Round, top inside round 11 26,871 214.00 235.00 227.53 169 5 Round, top inside, denuded 4 3,156 259.00 275.00 266.48

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 13 55,586 217.00 255.00 233.28 171C 3 Round, eye of round (IM) 19 68,380 233.00 257.00 250.74 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 14 19,056 398.00 426.00 418.58 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 19 32,729 380.00 451.00 409.97 184 1 Loin, top butt, bnls, heavy 4 6,371 233.00 253.00 237.42 184 3 Loin, top butt, boneless 10 31,558 245.00 266.50 249.47 185A 4 Loin, bottom sirloin, flap 15 75,141 338.00 385.00 356.24 185B 1 Loin, ball-tip, bnls, heavy 5 10,180 240.00 255.00 253.94 185C 1 Loin, sirloin, tri-tip (IM) 10 57,112 268.00 317.00 282.15 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 21 116,895 829.00 991.00 851.25 191A 4 Loin, butt tender, trimmed 4 7,121 835.00 950.00 839.44 193 4 Flank, flank steak (IM) 4 14,140 380.70 415.00 387.22 ------------------------------------------------------------------------------- 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) 16 86,881 309.50 335.82 321.26 121C 4 Plate, Outside Skirt (IM) 16 31,690 380.00 435.00 403.50 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 35 79,699 254.00 275.00 262.12

Pectoral Meat 24 36,491 241.00 285.00 265.63 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 26 227,314 150.00 186.00 166.49 Ground Beef 75% Ground Beef 81% 23 146,602 167.00 196.67 182.24 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 8 81,937 220.70 238.50 222.73 Ground Beef Chuck 80% 9 120,145 189.08 199.00 191.32 Ground Beef Round 85% 3 63,902 200.00 220.00 207.54 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% 6 20,840 188.25 208.00 204.42 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 17 440,173 106.53 114.00 111.17 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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