USDA Boxed Beef Cutout Midday 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 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: 200.40 185.34 Change from prior day: (0.39) 0.43 ------------------------------------------------------------------------------- Choice/Select spread: 15.06

Total Load Count (Cuts, Trimmings, Grids): 105 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 316.72 265.47 Primal Chuck 171.56 166.56 Primal Round 174.88 173.79 Primal Loin 256.78 221.55 Primal Brisket 136.14 133.81 Primal Short Plate 137.04 138.67 Primal Flank 108.33 106.05 -------------------------------------------------------------------------------- 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 52.46 loads 2,098,384 pounds Select Cuts 32.14 loads 1,285,787 pounds Trimmings 6.39 loads 255,493 pounds Ground Beef 14.04 load 561,433 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 11 6,305 607.96 652.00 629.81 112A 3 Rib, ribeye, bnls, light 3 49,710 689.00 696.78 690.08 112A 3 Rib, ribeye, bnls, heavy 28 91,994 680.00 728.00 696.50 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 10 19,516 206.00 219.00 209.31 114A 3 Chuck, shoulder clod, trmd 19 85,928 201.00 232.00 220.12 114D 3 Chuck, clod, top blade 3 1,688 258.00 260.96 259.56 114E 3 Chuck, clod, arm roast 8 11,652 240.00 270.00 261.01 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 12 60,520 242.00 285.50 271.60 116B 1 Chuck, chuck tender (IM) 4 6,311 235.00 245.30 240.72

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 39 344,480 195.00 211.00 200.40 120A 3 Brisket, point/off, bnls 10 21,394 365.00 386.00 372.29 123A 3 Short Plate, short rib 12 13,404 425.00 475.00 450.50 130 4 Chuck, short rib 7 14,534 320.00 354.00 339.61 160 1 Round, bone-in 161 1 Round, boneless 4 14,020 223.00 236.00 232.50

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 36 170,941 230.00 249.50 238.23 168 1 Round, top inside round 10 25,709 198.00 228.00 217.51 168 3 Round, top inside round 27 102,589 214.00 240.00 229.81 169 5 Round, top inside, denuded 8 13,673 258.00 267.00 261.86

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 3,715 215.00 224.00 220.77 171B 3 Round, outside round 13 56,973 225.68 251.72 237.39 171C 3 Round, eye of round (IM) 28 88,927 249.78 271.00 258.69 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 20,561 470.82 525.50 481.34 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 14,864 429.40 440.00 432.31 180 3 Loin, strip, bnls, 0x1 42 312,708 477.99 528.00 490.04 184 1 Loin, top butt, bnls, heavy 8 13,348 270.00 288.00 277.13 184 3 Loin, top butt, boneless 24 198,278 283.00 316.56 293.76 185A 4 Loin, bottom sirloin, flap 22 118,636 348.00 390.00 378.15 185B 1 Loin, ball-tip, bnls, heavy 9 20,339 240.00 261.00 257.30 185C 1 Loin, sirloin, tri-tip (IM) 6 5,979 250.00 290.00 268.95 185D 4 Loin, tri-tip, pld (IM) 7 11,957 369.00 396.01 378.13 189A 4 Loin, tndrloin, trmd, heavy 15 66,555 1030.00 1100.00 1072.29 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 10 10,149 395.00 436.00 411.50 ------------------------------------------------------------------------------- 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 7 2,192 492.00 501.90 499.32 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 13 63,528 521.57 576.00 532.69 113C 1 Chuck, semi-bnls, neck/off 4 13,256 219.41 230.00 224.89 114 1 Chuck, shoulder clod 8 51,930 206.10 217.50 210.40 114A 3 Chuck, shoulder clod, trmd 5 24,295 201.00 224.00 209.34 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 12,747 280.00 304.00 285.49 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 15 71,402 233.00 285.00 253.51 116B 1 Chuck, chuck tender (IM) 3 15,813 230.00 242.00 234.31

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 13 336,078 193.00 203.00 194.54 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 5,438 420.96 470.00 447.53 130 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 19 220,603 223.00 243.17 230.17 168 1 Round, top inside round 15 42,242 198.00 225.00 218.31 168 3 Round, top inside round 7 11,996 214.00 235.00 228.76 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 6 25,227 225.68 255.00 230.96 171C 3 Round, eye of round (IM) 10 20,484 233.00 255.00 248.83 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 10 14,549 398.00 426.00 419.06 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 13 16,381 381.00 451.00 409.53 184 1 Loin, top butt, bnls, heavy 3 5,594 233.00 248.00 235.25 184 3 Loin, top butt, boneless 6 16,477 245.00 266.50 247.12 185A 4 Loin, bottom sirloin, flap 8 34,392 338.00 385.00 360.81 185B 1 Loin, ball-tip, bnls, heavy 4 10,139 240.00 254.00 252.51 185C 1 Loin, sirloin, tri-tip (IM) 5 18,455 268.00 275.50 271.60 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 16 71,323 829.00 965.00 847.56 191A 4 Loin, butt tender, trimmed 3 6,947 835.00 950.00 839.35 193 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) 11 66,389 309.50 335.82 321.76 121C 4 Plate, Outside Skirt (IM) 11 24,115 380.00 435.00 404.90 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 32 76,582 254.00 275.00 261.80

Pectoral Meat 19 31,502 255.00 285.00 266.08 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 23 225,460 150.00 186.00 166.43 Ground Beef 75% Ground Beef 81% 20 140,772 167.00 196.67 181.82 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 3 8,917 232.50 238.50 235.33 Ground Beef Chuck 80% 6 58,340 189.08 195.00 191.09 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% Blended Ground Beef 85% 0 0 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 11 234,493 106.53 113.00 109.27 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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