USDA Boxed Beef Cutout Midday Prices for April 7

April 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 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: 228.77 216.49 Change from prior day: 0.03 (0.88) ------------------------------------------------------------------------------- Choice/Select spread: 12.29

Total Load Count (Cuts, Trimmings, Grids): 73 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 322.92 298.28 Primal Chuck 183.98 179.95 Primal Round 201.31 199.34 Primal Loin 312.24 275.64 Primal Brisket 196.96 196.61 Primal Short Plate 166.48 166.48 Primal Flank 134.85 133.57 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/04 82 38 11 35 166 228.74 217.37 04/03 74 54 9 39 175 231.95 221.41 04/02 64 42 7 38 151 233.64 223.66 04/01 54 37 5 23 119 232.54 222.95 03/31 51 27 11 38 126 233.79 225.01 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 232.13 222.08 -------------------------------------------------------------------------------- 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 41.32 loads 1,652,661 pounds Select Cuts 11.84 loads 473,730 pounds Trimmings 0.00 loads 0 pounds Ground Beef 19.51 load 780,297 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 14 53,005 574.31 617.00 580.80 112A 3 Rib, ribeye, bnls, light 10 24,576 610.00 725.00 666.54 112A 3 Rib, ribeye, bnls, heavy 10 56,653 625.00 685.00 676.53 113C 1 Chuck, semi-bnls, neck/off 3 12,803 234.00 241.50 236.65 114 1 Chuck, shoulder clod 3 3,532 226.00 230.00 228.14 114A 3 Chuck, shoulder clod, trmd 9 43,274 234.00 246.50 239.29 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 16 46,345 244.50 274.01 263.57 114F 5 Chuck, clod tender (IM) 14 11,350 435.00 490.00 457.36 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 33 233,121 234.00 270.60 250.91 116B 1 Chuck, chuck tender (IM) 8 27,883 252.80 260.60 254.21

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 18 66,180 290.00 318.00 303.88 120A 3 Brisket, point/off, bnls 4 13,756 470.60 525.00 482.56 123A 3 Short Plate, short rib 17 15,835 508.00 541.00 514.34 130 4 Chuck, short rib 9 15,925 314.80 350.00 320.19 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 34 140,964 248.00 276.50 257.30 168 1 Round, top inside round 14 36,456 250.00 293.00 264.42 168 3 Round, top inside round 10 42,871 254.69 286.50 264.64 169 5 Round, top inside, denuded 28 118,650 290.00 338.60 329.89

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 35 151,982 224.55 263.01 247.98 171C 3 Round, eye of round (IM) 28 109,001 247.76 290.00 264.06 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 9 64,588 592.00 646.52 619.67 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 4 3,863 630.00 630.00 630.00 180 3 Loin, strip, bnls, 0x1 12 25,555 670.60 725.00 678.99 184 1 Loin, top butt, bnls, heavy 5 26,792 325.15 355.00 326.71 184 3 Loin, top butt, boneless 17 68,864 345.80 355.00 350.64 185A 4 Loin, bottom sirloin, flap 11 15,828 450.00 505.00 491.12 185B 1 Loin, ball-tip, bnls, heavy 9 24,194 363.00 410.00 395.95 185C 1 Loin, sirloin, tri-tip (IM) 5 1,881 378.00 415.00 401.42 185D 4 Loin, tri-tip, pld (IM) 3 11,422 509.00 540.00 513.46 189A 4 Loin, tndrloin, trmd, heavy 30 44,712 1000.00 1260.00 1090.68 191A 4 Loin, butt tender, trimmed 8 14,036 1004.00 1055.60 1031.29 193 4 Flank, flank steak (IM) 13 17,817 475.00 535.00 514.07 ------------------------------------------------------------------------------- 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 3 5,570 516.00 570.00 553.88 112A 3 Rib, ribeye, bnls, light 7 10,554 540.00 645.00 577.51 112A 3 Rib, ribeye, bnls, heavy 12 11,364 540.00 611.28 584.56 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 4 6,347 236.28 241.50 238.07 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 3,213 415.00 441.00 426.15 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 16 40,959 232.00 260.00 242.38 116B 1 Chuck, chuck tender (IM) 0 0

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 6 62,836 298.63 300.50 300.19 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 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 5 33,758 252.10 276.00 252.73 168 1 Round, top inside round 5 31,418 233.00 266.00 251.19 168 3 Round, top inside round 3 4,911 276.50 282.13 280.12 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 5 7,187 234.50 251.80 237.44 171C 3 Round, eye of round (IM) 6 7,393 265.00 309.00 273.17 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 0 0 184 1 Loin, top butt, bnls, heavy 3 43,808 310.00 320.00 310.79 184 3 Loin, top butt, boneless 6 13,109 323.31 362.00 328.53 185A 4 Loin, bottom sirloin, flap (M) 185B 1 Loin, ball-tip, bnls, heavy 185C 1 Loin, sirloin, tri-tip (IM) 0 0 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 9 9,357 940.00 1065.00 992.68 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 3 1,131 105.00 112.00 106.94 121D 4 Plate, Inside Skirt (IM) 12 21,413 358.70 397.00 369.64 121C 4 Plate, Outside Skirt (IM) 11 12,180 535.00 576.00 550.06 121E 6 Outside Skirt, pld (IM) 7 20,721 730.60 805.00 760.38

Cap, Wedge Meat & (IM) Lean 19 31,545 325.00 373.00 347.75

Pectoral Meat 17 35,676 339.59 380.00 357.52 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 14 158,780 184.60 223.29 213.86 Ground Beef 75% Ground Beef 81% 18 213,782 180.00 211.00 195.04 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% 3 27,243 304.50 313.95 307.42 Ground Beef Chuck 80% 15 190,651 207.75 248.00 217.98 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% 0 0 Blended Ground Beef 81% 6 65,960 205.15 275.00 242.42 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% 0 0 Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- 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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