USDA Boxed Beef Cutout Midday Prices for February 20

February 20 (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: 214.29 211.30 Change from prior day: 0.44 (0.19) ------------------------------------------------------------------------------- Choice/Select spread: 2.99

Total Load Count (Cuts, Trimmings, Grids): 114 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 290.79 283.09 Primal Chuck 193.17 191.82 Primal Round 207.12 207.14 Primal Loin 262.46 254.16 Primal Brisket 157.49 158.10 Primal Short Plate 143.66 143.66 Primal Flank 113.54 113.96 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 02/19 85 39 13 31 167 213.85 211.49 02/18 94 30 8 23 155 211.99 210.72 02/17 97 23 9 23 153 210.98 209.02 02/14 76 40 7 23 147 207.68 206.96 02/13 136 37 3 26 201 208.10 207.76 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 210.52 209.19 -------------------------------------------------------------------------------- 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 56.87 loads 2,274,657 pounds Select Cuts 25.08 loads 1,003,235 pounds Trimmings 11.15 loads 445,949 pounds Ground Beef 20.72 load 828,963 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 23 62,393 503.00 580.00 558.54 112A 3 Rib, ribeye, bnls, light 11 54,968 562.00 622.00 571.80 112A 3 Rib, ribeye, bnls, heavy 31 122,779 550.00 638.27 568.25 113C 1 Chuck, semi-bnls, neck/off 4 3,811 250.00 255.37 254.80 114 1 Chuck, shoulder clod 4 12,328 241.00 250.00 245.98 114A 3 Chuck, shoulder clod, trmd 34 349,607 245.00 293.11 252.66 114D 3 Chuck, clod, top blade 3 6,444 308.00 336.00 309.56 114E 3 Chuck, clod, arm roast 4 24,457 322.51 350.00 323.57 114F 5 Chuck, clod tender (IM) 7 22,582 330.00 376.00 339.75 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 548,962 259.00 290.00 263.05 116B 1 Chuck, chuck tender (IM) 8 61,127 286.00 305.00 288.27

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 25 100,079 217.00 238.52 226.40 120A 3 Brisket, point/off, bnls 8 16,850 373.00 405.00 376.54 123A 3 Short Plate, short rib 8 6,074 458.00 553.50 483.96 130 4 Chuck, short rib 13 17,718 300.00 372.11 325.23 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 22 43,083 270.00 300.37 281.65 168 1 Round, top inside round 13 14,230 237.50 259.58 244.76 168 3 Round, top inside round 20 45,686 242.00 266.95 253.50 169 5 Round, top inside, denuded 6 12,446 290.00 298.00 292.65

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 2,559 234.00 270.00 254.41 171B 3 Round, outside round 19 64,781 248.83 295.37 270.12 171C 3 Round, eye of round (IM) 21 77,197 273.70 327.50 285.63 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 16 70,592 440.00 510.00 453.85 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 27,795 432.00 471.00 459.19 180 3 Loin, strip, bnls, 0x1 25 29,476 475.00 531.00 513.62 184 1 Loin, top butt, bnls, heavy 12 41,735 268.75 285.00 273.00 184 3 Loin, top butt, boneless 14 50,519 279.00 320.00 300.74 185A 4 Loin, bottom sirloin, flap 20 68,483 380.00 415.00 397.11 185B 1 Loin, ball-tip, bnls, heavy 16 39,138 291.30 315.00 305.88 185C 1 Loin, sirloin, tri-tip (IM) 8 6,451 315.00 325.00 320.78 185D 4 Loin, tri-tip, pld (IM) 7 4,789 427.87 451.00 430.02 189A 4 Loin, tndrloin, trmd, heavy 13 13,555 962.26 987.00 971.23 191A 4 Loin, butt tender, trimmed 4 3,521 952.00 965.00 961.68 193 4 Flank, flank steak (IM) 31 34,685 393.83 433.50 405.15 ------------------------------------------------------------------------------- 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 1,099 504.00 542.11 516.73 112A 3 Rib, ribeye, bnls, light 3 1,689 560.00 592.00 572.60 112A 3 Rib, ribeye, bnls, heavy 22 75,931 552.45 582.00 558.50 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 7 9,170 238.00 251.39 241.95 114A 3 Chuck, shoulder clod, trmd 10 162,617 250.00 270.37 251.51 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 5 3,133 310.10 341.00 325.67 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 25 185,230 257.00 283.25 261.83 116B 1 Chuck, chuck tender (IM) 5 14,978 277.00 310.00 292.89

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 9 11,423 225.00 235.00 230.97 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 6 10,620 268.00 286.67 270.70 168 1 Round, top inside round 8 16,390 226.00 251.00 239.74 168 3 Round, top inside round 9 38,784 247.00 275.00 252.56 169 5 Round, top inside, denuded 6 9,788 280.00 303.50 291.33

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 9 12,646 276.00 288.00 281.34 171C 3 Round, eye of round (IM) 11 11,529 295.00 325.00 311.15 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 62,925 400.93 484.75 445.33 175 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 11 85,487 443.99 491.00 461.53 184 1 Loin, top butt, bnls, heavy 10 18,598 270.00 300.37 278.31 184 3 Loin, top butt, boneless 9 8,169 286.00 310.00 297.45 185A 4 Loin, bottom sirloin, flap 5 14,793 380.00 415.37 385.66 185B 1 Loin, ball-tip, bnls, heavy 7 26,710 285.00 310.00 306.18 185C 1 Loin, sirloin, tri-tip (IM) 4 3,866 310.00 324.70 312.59 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 13 57,037 939.00 953.00 942.30 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 7 9,008 385.00 422.11 399.54 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 7,171 105.00 117.11 106.62 121D 4 Plate, Inside Skirt (IM) 30 112,784 327.00 353.27 334.45 121C 4 Plate, Outside Skirt (IM) 16 21,356 400.00 450.00 421.77 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 33 129,959 281.00 307.50 287.15

Pectoral Meat 15 22,060 285.00 316.00 296.38 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 16 48,991 192.40 233.00 213.27 Ground Beef 75% Ground Beef 81% 15 164,493 204.30 241.00 227.27 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 4 1,342 270.00 285.37 273.17 Ground Beef Round 85% 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% Blended Ground Beef 81% 7 50,280 217.80 232.05 219.21 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 15 351,729 110.00 120.00 114.53 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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