USDA Boxed Beef Cutout Midday Prices for November 21

November 21 (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: 198.47 185.62 Change from prior day: (0.87) (1.68) ------------------------------------------------------------------------------- Choice/Select spread: 12.85

Total Load Count (Cuts, Trimmings, Grids): 147 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 335.99 271.81 Primal Chuck 167.23 164.08 Primal Round 171.75 170.72 Primal Loin 250.05 229.35 Primal Brisket 134.25 131.61 Primal Short Plate 132.41 134.60 Primal Flank 99.98 97.98 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/20 118 74 0 66 258 199.34 187.30 11/19 102 70 5 12 190 199.02 187.90 11/18 67 27 0 21 115 200.56 189.71 11/15 67 34 14 16 132 201.16 188.44 11/14 93 44 9 24 170 202.56 188.52 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 200.53 188.37 -------------------------------------------------------------------------------- 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 55.48 loads 2,219,303 pounds Select Cuts 38.19 loads 1,527,798 pounds Trimmings 33.69 loads 1,347,574 pounds Ground Beef 19.87 load 794,816 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 13 32,147 674.00 750.00 690.45 112A 3 Rib, ribeye, bnls, light 4 5,322 748.00 802.00 752.22 112A 3 Rib, ribeye, bnls, heavy 9 17,548 730.73 780.00 749.64 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 6 10,566 205.00 220.00 211.29 114A 3 Chuck, shoulder clod, trmd 25 88,484 216.00 233.00 226.33 114D 3 Chuck, clod, top blade 9 10,523 243.94 284.65 257.14 114E 3 Chuck, clod, arm roast 4 21,493 280.05 293.00 292.51 114F 5 Chuck, clod tender (IM) 10 12,350 340.00 360.00 344.48 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 32 177,747 236.40 280.00 256.01 116B 1 Chuck, chuck tender (IM) 13 50,336 217.00 236.00 219.75

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 39,304 195.00 219.00 200.44 120A 3 Brisket, point/off, bnls 5 3,766 375.00 387.00 377.43 123A 3 Short Plate, short rib 9 28,793 431.70 473.41 448.90 130 4 Chuck, short rib 6 10,823 310.00 340.00 319.08 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 26 184,889 221.00 240.00 225.24 168 1 Round, top inside round 26 468,622 209.90 230.00 210.52 168 3 Round, top inside round 39 255,828 219.90 233.00 223.03 169 5 Round, top inside, denuded 13 31,803 253.00 270.00 257.81

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 22 185,772 221.00 250.00 232.32 171C 3 Round, eye of round (IM) 20 61,390 243.55 266.00 251.97 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 11 74,921 380.00 437.20 403.49 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 8 15,607 403.00 415.00 406.25 180 3 Loin, strip, bnls, 0x1 16 56,078 450.00 490.00 462.12 184 1 Loin, top butt, bnls, heavy 4 5,352 245.00 260.00 249.96 184 3 Loin, top butt, boneless 8 6,898 275.00 295.00 281.25 185A 4 Loin, bottom sirloin, flap 16 80,284 355.00 365.00 361.99 185B 1 Loin, ball-tip, bnls, heavy 17 93,478 245.00 275.00 249.57 185C 1 Loin, sirloin, tri-tip (IM) 4 1,255 296.00 316.00 310.91 185D 4 Loin, tri-tip, pld (IM) 4 1,286 407.00 419.00 411.35 189A 4 Loin, tndrloin, trmd, heavy 12 59,141 1188.00 1245.75 1223.18 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 13,389 357.51 390.00 377.19 ------------------------------------------------------------------------------- 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 5 16,844 500.00 551.00 503.73 112A 3 Rib, ribeye, bnls, light 5 4,430 555.00 570.00 560.38 112A 3 Rib, ribeye, bnls, heavy 11 60,976 543.94 581.00 554.75 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 5 16,449 216.00 225.75 222.47 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 5,905 285.00 295.00 287.02 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 21 189,829 251.00 268.00 254.65 116B 1 Chuck, chuck tender (IM) 8 22,696 218.55 236.00 228.50

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 5 19,281 194.65 205.00 195.70 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 9,701 430.00 435.68 431.70 130 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 9 53,792 221.00 232.00 223.40 168 1 Round, top inside round 7 130,068 210.00 215.00 210.77 168 3 Round, top inside round 13 134,275 218.00 226.00 221.15 169 5 Round, top inside, denuded 3 3,393 253.00 256.00 254.78

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 85,188 211.00 227.00 211.60 171B 3 Round, outside round 8 86,040 226.03 239.77 229.48 171C 3 Round, eye of round (IM) 9 24,676 242.94 260.00 247.29 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 10 60,323 364.50 383.32 369.17 175 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 9 32,156 388.00 461.00 416.34 184 1 Loin, top butt, bnls, heavy 4 6,753 248.00 254.77 248.80 184 3 Loin, top butt, boneless 16 177,668 250.00 276.00 251.07 185A 4 Loin, bottom sirloin, flap 6 37,926 346.00 365.00 364.29 185B 1 Loin, ball-tip, bnls, heavy 7 26,065 248.00 257.00 254.22 185C 1 Loin, sirloin, tri-tip (IM) 3 5,337 290.00 305.00 301.61 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 7 54,659 941.00 970.00 964.93 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 6,042 349.00 385.51 365.70 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 19,724 74.00 114.77 80.76 121D 4 Plate, Inside Skirt (IM) 18 33,470 315.00 342.00 321.68 121C 4 Plate, Outside Skirt (IM) 8 7,211 372.51 416.00 404.26 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 21 76,830 248.75 284.28 259.04

Pectoral Meat 17 13,962 242.50 287.00 269.57 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 12 173,483 150.00 177.00 152.56 Ground Beef 75% 0 0 Ground Beef 81% 20 200,784 173.30 196.00 176.20 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 5 125,097 189.50 201.00 189.98 Ground Beef Round 85% 4 7,253 210.00 225.50 218.93 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% 3 4,800 185.10 202.05 191.64 Blended Ground Beef 85% 0 0 Blended Ground Beef 90% 0 0 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 34 1,291,954 95.00 118.50 99.17 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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