USDA Boxed Beef Cutout Midday Prices for October 25

October 25 (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: 200.19 185.18 Change from prior day: (0.88) (0.50) ------------------------------------------------------------------------------- Choice/Select spread: 15.02

Total Load Count (Cuts, Trimmings, Grids): 71 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 318.41 264.10 Primal Chuck 171.23 167.39 Primal Round 173.89 172.06 Primal Loin 256.23 221.90 Primal Brisket 136.45 134.10 Primal Short Plate 136.81 138.28 Primal Flank 109.41 108.05 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/24 71 47 12 19 148 201.07 185.68 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 199.15 183.05 -------------------------------------------------------------------------------- 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 35.39 loads 1,415,735 pounds Select Cuts 27.05 loads 1,082,182 pounds Trimmings 2.17 loads 86,800 pounds Ground Beef 6.37 load 254,814 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 10 86,741 600.00 655.00 620.57 112A 3 Rib, ribeye, bnls, light 4 4,682 664.00 730.00 672.38 112A 3 Rib, ribeye, bnls, heavy 47 104,576 675.00 729.50 695.27 113C 1 Chuck, semi-bnls, neck/off 4 9,658 219.21 231.75 225.07 114 1 Chuck, shoulder clod 5 24,345 200.00 220.00 219.00 114A 3 Chuck, shoulder clod, trmd 8 31,597 212.98 230.17 223.70 114D 3 Chuck, clod, top blade 4 12,213 261.04 277.00 274.59 114E 3 Chuck, clod, arm roast 5 49,967 240.00 270.00 268.20 114F 5 Chuck, clod tender (IM) 7 7,010 355.00 380.70 367.79 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 13 28,169 278.00 304.00 293.65 116B 1 Chuck, chuck tender (IM) 11 20,223 236.03 247.00 239.99

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 85,480 196.50 213.00 200.56 120A 3 Brisket, point/off, bnls 5 2,401 365.00 393.00 369.48 123A 3 Short Plate, short rib 7 18,578 418.93 483.00 430.42 130 4 Chuck, short rib 6 5,870 322.00 358.00 331.01 160 1 Round, bone-in 3 1,297 225.00 236.50 226.17 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 12 30,986 233.00 250.00 239.49 168 1 Round, top inside round 27 136,590 210.80 232.06 219.59 168 3 Round, top inside round 15 179,418 215.00 239.75 226.99 169 5 Round, top inside, denuded 5 5,436 258.00 267.00 262.76

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 5,082 216.00 234.00 220.50 171B 3 Round, outside round 20 49,013 219.00 255.00 243.15 171C 3 Round, eye of round (IM) 4 10,560 253.50 259.00 256.74 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 12,662 471.25 530.00 489.67 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 3 1,224 460.17 470.00 466.78 180 3 Loin, strip, bnls, 0x1 24 22,706 490.00 532.00 504.56 184 1 Loin, top butt, bnls, heavy 6 3,632 270.00 316.54 285.17 184 3 Loin, top butt, boneless 10 6,995 295.00 319.81 310.80 185A 4 Loin, bottom sirloin, flap 12 59,611 360.60 391.73 368.06 185B 1 Loin, ball-tip, bnls, heavy 9 11,821 231.00 260.00 259.02 185C 1 Loin, sirloin, tri-tip (IM) 9 3,737 270.00 298.90 288.31 185D 4 Loin, tri-tip, pld (IM) 3 2,367 363.00 391.50 386.14 189A 4 Loin, tndrloin, trmd, heavy 16 56,619 1059.00 1224.50 1080.18 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 26 88,809 373.75 425.00 404.26 ------------------------------------------------------------------------------- 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 4 2,769 477.66 495.00 486.17 112A 3 Rib, ribeye, bnls, light 5 37,015 520.70 538.00 533.61 112A 3 Rib, ribeye, bnls, heavy 27 67,411 514.50 569.55 534.69 113C 1 Chuck, semi-bnls, neck/off 3 7,264 219.60 230.00 227.01 114 1 Chuck, shoulder clod 3 46,376 203.00 216.00 204.12 114A 3 Chuck, shoulder clod, trmd 3 13,948 216.75 225.00 220.46 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 8,359 290.00 300.00 293.48 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 6 27,542 250.00 282.00 269.78 116B 1 Chuck, chuck tender (IM)

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 12 159,842 193.00 220.00 198.39 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 8 22,461 407.74 471.00 422.96 130 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 3 4,345 229.60 230.00 229.73 168 1 Round, top inside round 9 83,769 212.00 223.49 217.81 168 3 Round, top inside round 6 14,225 220.00 241.00 237.48 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 5 100,689 215.47 224.81 215.60 171B 3 Round, outside round 8 25,297 225.00 244.81 236.84 171C 3 Round, eye of round (IM) 11 38,148 233.00 254.83 245.31 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 5 3,394 400.00 417.00 409.53 175 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 13 24,868 381.00 461.00 413.27 184 1 Loin, top butt, bnls, heavy 5 4,099 230.00 245.00 235.98 184 3 Loin, top butt, boneless 185A 4 Loin, bottom sirloin, flap 4 51,419 359.21 390.00 360.61 185B 1 Loin, ball-tip, bnls, heavy 5 21,217 246.00 260.00 258.40 185C 1 Loin, sirloin, tri-tip (IM) 3 1,278 287.00 293.00 287.81 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 18 41,586 830.00 917.00 907.81 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 7,723 402.00 425.00 410.93 ------------------------------------------------------------------------------- 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) 24 177,783 315.00 332.85 317.95 121C 4 Plate, Outside Skirt (IM) 4 4,267 380.00 410.00 389.02 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 15 150,613 241.00 275.00 264.50

Pectoral Meat 14 28,083 251.00 280.00 271.97 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 9 35,031 152.26 176.00 161.03 Ground Beef 75% 0 0 Ground Beef 81% 12 116,483 169.26 195.50 180.39 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 0 0 Ground Beef Chuck 80% 8 13,143 171.17 195.00 188.12 Ground Beef Round 85% 4 26,245 217.00 220.81 217.16 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% Blended Ground Beef 81% 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 0 0 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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