USDA Boxed Beef Cutout Midday Prices for April 22

April 22 (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: 231.32 219.30 Change from prior day: 2.26 1.23 ------------------------------------------------------------------------------- Choice/Select spread: 12.02

Total Load Count (Cuts, Trimmings, Grids): 68 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 337.07 307.91 Primal Chuck 186.06 182.36 Primal Round 195.72 193.16 Primal Loin 313.20 280.29 Primal Brisket 207.57 206.67 Primal Short Plate 174.48 174.48 Primal Flank 143.33 143.78 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 04/21 64 54 4 30 151 229.06 218.07 04/18 66 56 5 20 147 226.35 215.23 04/17 85 47 18 35 185 225.88 215.43 04/16 99 58 3 49 209 223.75 214.47 04/15 94 51 14 21 181 222.86 213.14 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 225.58 215.27 -------------------------------------------------------------------------------- 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 26.83 loads 1,073,203 pounds Select Cuts 26.25 loads 1,049,949 pounds Trimmings 2.70 loads 108,022 pounds Ground Beef 12.19 load 487,712 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 20 22,911 604.00 652.00 626.16 112A 3 Rib, ribeye, bnls, light 9 9,701 657.00 716.00 691.96 112A 3 Rib, ribeye, bnls, heavy 33 54,397 644.92 715.00 677.27 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 6 5,526 215.00 235.00 223.38 114A 3 Chuck, shoulder clod, trmd 12 34,925 228.00 246.76 233.06 114D 3 Chuck, clod, top blade 10 7,865 349.65 425.00 377.96 114E 3 Chuck, clod, arm roast 5 42,860 235.00 276.55 238.16 114F 5 Chuck, clod tender (IM) 7 5,027 444.00 481.93 462.43 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 19 22,246 249.00 286.00 263.40 116B 1 Chuck, chuck tender (IM) 15 39,723 234.47 260.23 238.96

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 20 93,791 309.00 340.00 317.31 120A 3 Brisket, point/off, bnls 15 2,822 491.76 552.00 542.29 123A 3 Short Plate, short rib 10 21,574 473.00 516.00 493.18 130 4 Chuck, short rib 10 17,149 324.75 370.00 331.31 160 1 Round, bone-in 161 1 Round, boneless 4 5,596 247.00 283.42 252.50

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 20 81,919 243.00 282.00 246.66 168 1 Round, top inside round 9 28,098 247.00 275.00 252.27 168 3 Round, top inside round 9 30,512 261.83 286.00 273.62 169 5 Round, top inside, denuded 7 5,468 306.00 348.00 310.04

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 4,351 211.00 226.00 217.26 171B 3 Round, outside round 10 42,842 229.93 246.00 240.69 171C 3 Round, eye of round (IM) 25 40,988 233.37 277.00 246.42 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 24 19,435 546.00 635.00 604.56 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 10 11,106 545.00 575.00 553.69 180 3 Loin, strip, bnls, 0x1 27 110,281 571.24 672.00 596.61 184 1 Loin, top butt, bnls, heavy 4 3,784 330.00 350.00 335.84 184 3 Loin, top butt, boneless 11 7,177 347.00 377.22 363.55 185A 4 Loin, bottom sirloin, flap 13 17,687 510.00 531.55 514.54 185B 1 Loin, ball-tip, bnls, heavy 3 12,136 360.00 360.00 360.00 185C 1 Loin, sirloin, tri-tip (IM) 12 28,452 381.00 426.50 387.66 185D 4 Loin, tri-tip, pld (IM) 8 8,597 500.50 564.00 512.11 189A 4 Loin, tndrloin, trmd, heavy 13 106,743 1045.00 1106.00 1061.16 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 16 6,296 527.00 551.00 536.33 ------------------------------------------------------------------------------- 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 6 32,897 524.50 566.00 526.22 112A 3 Rib, ribeye, bnls, light 8 20,849 576.00 652.00 621.41 112A 3 Rib, ribeye, bnls, heavy 22 42,647 581.91 651.00 606.53 113C 1 Chuck, semi-bnls, neck/off 3 8,731 227.95 245.00 230.38 114 1 Chuck, shoulder clod 114A 3 Chuck, shoulder clod, trmd 8 36,735 221.75 231.47 225.58 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 17 69,825 245.00 275.00 251.59 116B 1 Chuck, chuck tender (IM) 6 9,542 236.93 251.76 244.80

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 5 10,744 312.00 325.00 317.09 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 4 4,046 314.93 340.00 322.01 160 1 Round, bone-in 161 1 Round, boneless 3 2,748 252.75 253.00 252.87

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 10 73,969 243.00 270.00 246.10 168 1 Round, top inside round 5 10,469 251.47 262.00 255.70 168 3 Round, top inside round 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 10 111,691 229.93 245.00 236.91 171C 3 Round, eye of round (IM) 7 7,859 233.37 260.00 245.31 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 14 28,043 469.45 560.00 496.04 175 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 15 23,577 499.50 549.00 525.54 184 1 Loin, top butt, bnls, heavy 8 79,847 290.00 336.02 295.67 184 3 Loin, top butt, boneless 18 190,720 290.00 335.00 297.57 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 18 25,783 996.00 1176.00 1010.03 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 121D 4 Plate, Inside Skirt (IM) 16 18,039 376.00 413.00 387.39 121C 4 Plate, Outside Skirt (IM) 10 11,759 539.76 560.00 542.27 121E 6 Outside Skirt, pld (IM) 7 12,111 765.00 820.00 778.11

Cap, Wedge Meat & (IM) Lean 16 50,682 341.00 371.00 348.16

Pectoral Meat 13 79,154 329.00 360.00 342.88 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 11 74,276 175.40 210.00 186.28 Ground Beef 75% 0 0 Ground Beef 81% 10 61,419 194.00 206.00 198.57 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 0 0 Ground Beef Chuck 80% 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% 10 88,720 191.15 216.00 205.14 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% 0 0 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 5 108,022 123.80 134.70 129.77 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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