USDA Boxed Beef Cutout Closing Prices for November 7

November 7 (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: 203.99 190.17 Change from prior day: (0.57) (0.45) ------------------------------------------------------------------------------- Choice/Select spread: 13.82

Total Load Count (Cuts, Trimmings, Grids): 149 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 327.19 272.87 Primal Chuck 176.23 171.28 Primal Round 177.49 176.67 Primal Loin 258.45 229.99 Primal Brisket 136.67 136.42 Primal Short Plate 138.84 139.55 Primal Flank 106.03 104.89 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/06 106 46 3 34 188 204.56 190.62 11/05 54 37 8 23 122 205.45 189.98 11/04 62 36 7 18 122 205.56 189.43 11/01 43 25 4 18 90 204.60 189.14 10/31 67 31 0 22 120 205.17 190.08 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 205.07 189.85 -------------------------------------------------------------------------------- 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 77.55 loads 3,102,177 pounds Select Cuts 42.87 loads 1,714,981 pounds Trimmings 3.18 loads 127,239 pounds Ground Beef 25.78 load 1,031,226 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 17 74,200 630.00 736.00 641.73 112A 3 Rib, ribeye, bnls, light 15 42,627 676.00 800.00 717.37 112A 3 Rib, ribeye, bnls, heavy 48 187,319 672.03 811.00 714.87 113C 1 Chuck, semi-bnls, neck/off 6 16,999 221.59 235.00 226.59 114 1 Chuck, shoulder clod 15 61,937 209.61 231.00 218.70 114A 3 Chuck, shoulder clod, trmd 22 92,072 220.00 236.00 225.37 114D 3 Chuck, clod, top blade 3 7,105 262.00 265.00 262.20 114E 3 Chuck, clod, arm roast 5 14,580 270.00 285.00 272.32 114F 5 Chuck, clod tender (IM) 8 11,032 347.50 376.00 360.20 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 55,394 275.80 305.52 285.54 116B 1 Chuck, chuck tender (IM) 24 69,331 223.76 246.03 234.24

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 24 76,250 197.00 216.00 202.78 120A 3 Brisket, point/off, bnls 10 15,001 356.50 385.00 366.11 123A 3 Short Plate, short rib 10 10,033 431.70 491.50 447.05 130 4 Chuck, short rib 14 19,737 314.00 361.37 330.96 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 43 243,272 230.00 246.00 237.30 168 1 Round, top inside round 22 99,016 218.00 234.52 223.37 168 3 Round, top inside round 29 106,448 227.00 246.00 231.00 169 5 Round, top inside, denuded 21 69,721 260.00 275.00 264.62

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 7,817 212.00 231.00 222.48 171B 3 Round, outside round 32 178,807 237.00 260.00 247.39 171C 3 Round, eye of round (IM) 28 79,770 260.13 280.80 267.95 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 13 20,568 450.00 519.50 490.00 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 7 8,472 405.00 436.30 419.07 180 3 Loin, strip, bnls, 0x1 44 296,965 447.38 500.00 466.17 184 1 Loin, top butt, bnls, heavy 8 12,453 255.00 274.80 268.48 184 3 Loin, top butt, boneless 30 262,801 275.00 324.50 283.43 185A 4 Loin, bottom sirloin, flap 38 378,427 350.00 380.00 355.84 185B 1 Loin, ball-tip, bnls, heavy 11 19,380 254.00 270.00 264.98 185C 1 Loin, sirloin, tri-tip (IM) 10 10,479 295.00 329.00 314.00 185D 4 Loin, tri-tip, pld (IM) 8 10,123 382.00 412.00 395.94 189A 4 Loin, tndrloin, trmd, heavy 19 59,676 1118.60 1301.00 1141.55 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 29 105,318 350.05 400.23 372.51 ------------------------------------------------------------------------------- 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 22,766 482.40 518.00 493.63 112A 3 Rib, ribeye, bnls, light 3 6,708 542.00 580.00 550.26 112A 3 Rib, ribeye, bnls, heavy 20 27,509 530.00 580.51 546.78 113C 1 Chuck, semi-bnls, neck/off 4 10,497 220.00 235.00 225.02 114 1 Chuck, shoulder clod 12 22,848 209.61 230.00 217.29 114A 3 Chuck, shoulder clod, trmd 17 60,853 220.25 245.00 223.83 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 3,607 286.00 299.00 291.90 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 27 173,014 250.00 295.00 266.62 116B 1 Chuck, chuck tender (IM) 16 44,550 227.00 258.00 233.24

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 61,310 195.00 225.00 198.50 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 4,007 430.78 481.00 443.02 130 4 Chuck, short rib 5 6,504 320.00 340.00 322.90 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 10 122,055 230.00 265.70 231.69 168 1 Round, top inside round 8 49,812 222.45 230.20 223.54 168 3 Round, top inside round 13 35,535 227.00 250.00 230.00 169 5 Round, top inside, denuded 7 6,729 269.00 280.00 272.55

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 4,500 219.50 232.00 226.50 171B 3 Round, outside round 20 48,591 231.00 260.98 244.23 171C 3 Round, eye of round (IM) 18 39,612 245.00 280.00 257.16 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 14 15,768 400.00 444.50 424.68 175 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 18 32,211 399.00 461.00 420.75 184 1 Loin, top butt, bnls, heavy 7 14,764 250.80 259.20 254.79 184 3 Loin, top butt, boneless 16 122,011 250.00 281.56 255.33 185A 4 Loin, bottom sirloin, flap 22 312,949 337.78 375.81 348.48 185B 1 Loin, ball-tip, bnls, heavy 15 37,026 239.00 275.00 259.30 185C 1 Loin, sirloin, tri-tip (IM) 4 8,741 289.83 300.00 295.93 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 15 57,825 857.00 1000.00 918.31 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 6,994 375.00 411.37 395.93 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 13,218 61.65 100.00 77.97 121D 4 Plate, Inside Skirt (IM) 23 56,646 320.00 335.00 326.77 121C 4 Plate, Outside Skirt (IM) 19 54,031 376.00 436.00 389.80 121E 6 Outside Skirt, pld (IM) 6 41,706 530.00 625.00 535.64

Cap, Wedge Meat & (IM) Lean 38 220,124 250.00 275.50 260.82

Pectoral Meat 31 143,317 264.25 285.50 274.29 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 130,847 166.00 177.00 170.06 Ground Beef 75% Ground Beef 81% 30 246,087 168.00 204.00 181.00 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 6 59,648 181.00 195.94 189.69 Ground Beef Round 85% 10 79,134 212.00 226.50 219.75 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% Blended Ground Beef 81% 5 23,060 191.88 202.05 198.14 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 10 126,889 114.50 122.00 117.61 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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