USDA Boxed Beef Cutout Closing Prices for October 28

October 28 (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: 203.12 187.50 Change from prior day: 2.15 2.10 ------------------------------------------------------------------------------- Choice/Select spread: 15.62

Total Load Count (Cuts, Trimmings, Grids): 116 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 322.95 267.45 Primal Chuck 173.92 169.24 Primal Round 177.08 174.62 Primal Loin 260.47 225.46 Primal Brisket 136.39 135.39 Primal Short Plate 137.44 138.87 Primal Flank 108.20 106.81 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/25 70 36 9 16 131 200.97 185.40 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 200.09 184.13 -------------------------------------------------------------------------------- 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 58.82 loads 2,352,929 pounds Select Cuts 47.36 loads 1,894,428 pounds Trimmings 0.00 loads 0 pounds Ground Beef 9.71 load 388,533 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 25 138,710 579.86 703.00 621.87 112A 3 Rib, ribeye, bnls, light 14 58,974 676.00 777.00 702.94 112A 3 Rib, ribeye, bnls, heavy 22 68,692 672.00 774.00 685.75 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 8 20,967 210.00 226.00 213.15 114A 3 Chuck, shoulder clod, trmd 14 76,161 207.00 235.50 227.28 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 9 16,500 267.25 294.00 281.42 114F 5 Chuck, clod tender (IM) 9 11,503 320.77 382.00 347.79 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 150,418 277.00 309.39 298.90 116B 1 Chuck, chuck tender (IM) 10 52,663 230.41 246.50 235.76

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 24 66,131 195.82 216.00 203.26 120A 3 Brisket, point/off, bnls 7 4,825 365.00 391.00 367.05 123A 3 Short Plate, short rib 23 75,315 389.00 497.00 432.86 130 4 Chuck, short rib 11 34,099 301.00 343.00 319.58 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 37 219,122 224.00 246.96 237.83 168 1 Round, top inside round 23 123,701 204.00 231.00 219.80 168 3 Round, top inside round 19 180,063 225.00 252.00 233.20 169 5 Round, top inside, denuded 13 38,609 256.00 293.00 265.96

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 37 183,718 236.00 267.60 251.62 171C 3 Round, eye of round (IM) 33 97,531 249.50 282.05 260.19 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 42,840 473.04 529.50 489.44 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 6 7,764 430.00 430.00 430.00 180 3 Loin, strip, bnls, 0x1 23 54,248 480.63 520.00 494.92 184 1 Loin, top butt, bnls, heavy 7 7,160 270.00 285.00 274.27 184 3 Loin, top butt, boneless 11 34,726 303.27 335.30 312.46 185A 4 Loin, bottom sirloin, flap 16 87,121 354.00 391.00 367.75 185B 1 Loin, ball-tip, bnls, heavy 20 29,484 235.00 265.00 257.71 185C 1 Loin, sirloin, tri-tip (IM) 13 32,698 281.50 320.00 314.01 185D 4 Loin, tri-tip, pld (IM) 7 13,829 380.00 394.00 391.32 189A 4 Loin, tndrloin, trmd, heavy 19 25,223 1029.00 1251.00 1129.91 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 32 62,252 369.00 430.00 381.89 ------------------------------------------------------------------------------- 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 13 73,505 469.00 506.00 485.81 112A 3 Rib, ribeye, bnls, light 7 66,667 530.00 580.00 546.37 112A 3 Rib, ribeye, bnls, heavy 18 76,575 509.06 560.00 520.75 113C 1 Chuck, semi-bnls, neck/off 3 10,346 227.00 230.95 227.70 114 1 Chuck, shoulder clod 11 99,550 209.00 218.00 212.76 114A 3 Chuck, shoulder clod, trmd 4 23,682 207.00 233.50 221.62 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 11,966 270.00 300.00 283.51 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 27 160,801 257.05 289.00 276.44 116B 1 Chuck, chuck tender (IM) 6 27,733 234.75 245.00 238.04

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 13 51,550 195.00 205.00 197.71 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 5,894 389.00 471.00 441.94 130 4 Chuck, short rib 3 1,632 321.00 340.00 325.69 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 9 19,091 224.00 242.50 232.68 168 1 Round, top inside round 14 70,079 203.00 233.00 219.28 168 3 Round, top inside round 13 63,920 214.00 244.00 226.84 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 4,785 215.37 236.00 227.46 171B 3 Round, outside round 15 153,376 238.17 255.00 242.42 171C 3 Round, eye of round (IM) 20 53,287 246.38 265.00 254.12 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 6 11,342 407.00 446.50 412.95 175 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 23 111,545 398.00 461.00 408.76 184 1 Loin, top butt, bnls, heavy 3 25,363 250.00 258.00 250.76 184 3 Loin, top butt, boneless 13 41,475 245.00 285.00 263.73 185A 4 Loin, bottom sirloin, flap 7 40,098 344.00 380.00 367.78 185B 1 Loin, ball-tip, bnls, heavy 11 71,269 237.25 265.00 256.66 185C 1 Loin, sirloin, tri-tip (IM) 7 15,256 275.00 295.00 281.53 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 10 30,408 860.00 989.00 882.64 191A 4 Loin, butt tender, trimmed 4 3,698 827.72 870.00 839.13 193 4 Flank, flank steak (IM) 9 38,156 370.00 420.00 379.11 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 18 306,208 64.00 99.61 68.37 121D 4 Plate, Inside Skirt (IM) 15 58,064 305.79 350.00 318.91 121C 4 Plate, Outside Skirt (IM) 13 23,591 383.00 435.00 411.34 121E 6 Outside Skirt, pld (IM) 5 17,954 560.00 635.00 580.41

Cap, Wedge Meat & (IM) Lean 27 185,196 255.00 280.00 261.73

Pectoral Meat 17 18,230 261.00 285.00 270.90 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 16 193,536 151.25 182.00 169.04 Ground Beef 75% Ground Beef 81% 9 32,956 183.00 204.00 185.78 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% Ground Beef Chuck 80% 15 106,919 186.17 209.50 194.20 Ground Beef Round 85% 6 8,766 214.00 225.00 218.24 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% 0 0 Blended Ground Beef 81% 5 6,280 188.00 208.00 191.10 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% 0 0 Blended Ground Beef Round 85% 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 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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