USDA Boxed Beef Cutout Midday Prices for May 14

May 14 (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: 225.22 215.50 Change from prior day: (1.39) (0.03) ------------------------------------------------------------------------------- Choice/Select spread: 9.72

Total Load Count (Cuts, Trimmings, Grids): 142 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 341.11 326.47 Primal Chuck 181.60 180.73 Primal Round 181.76 178.83 Primal Loin 307.12 274.75 Primal Brisket 188.18 186.78 Primal Short Plate 174.41 174.41 Primal Flank 147.60 142.06 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/13 71 60 11 35 178 226.61 215.53 05/12 41 28 7 34 109 223.82 212.64 05/09 71 60 6 33 171 223.26 212.21 05/08 74 59 9 28 170 225.65 212.51 05/07 85 61 23 28 197 227.15 213.26 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 225.30 213.23 -------------------------------------------------------------------------------- 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 64.34 loads 2,573,403 pounds Select Cuts 48.03 loads 1,921,394 pounds Trimmings 8.10 loads 323,889 pounds Ground Beef 21.55 load 862,098 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 24 67,248 626.00 676.50 638.15 112A 3 Rib, ribeye, bnls, light 14 21,411 691.00 770.00 732.10 112A 3 Rib, ribeye, bnls, heavy 45 80,608 683.50 754.00 714.28 113C 1 Chuck, semi-bnls, neck/off 6 17,044 224.83 243.50 231.12 114 1 Chuck, shoulder clod 14 44,244 215.00 225.00 221.46 114A 3 Chuck, shoulder clod, trmd 32 162,221 220.00 246.00 225.93 114D 3 Chuck, clod, top blade 3 2,470 334.66 359.00 338.83 114E 3 Chuck, clod, arm roast 9 7,432 235.00 273.60 247.34 114F 5 Chuck, clod tender (IM) 14 14,521 470.60 566.00 534.26 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 59 222,137 246.25 279.60 256.94 116B 1 Chuck, chuck tender (IM) 20 49,569 220.00 241.00 225.54

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 39 161,368 278.75 312.00 281.29 120A 3 Brisket, point/off, bnls 14 16,821 490.00 520.00 507.66 123A 3 Short Plate, short rib 6 10,332 492.00 510.00 501.73 130 4 Chuck, short rib 18 58,280 316.00 371.61 335.67 160 1 Round, bone-in 4 4,319 225.00 242.00 232.36 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 43 141,031 230.11 251.00 239.94 168 1 Round, top inside round 31 43,950 225.00 250.00 232.80 168 3 Round, top inside round 19 98,054 229.00 257.00 235.09 169 5 Round, top inside, denuded 21 76,211 278.00 299.60 293.01

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 6 6,513 213.00 226.00 217.83 171B 3 Round, outside round 42 300,308 215.00 251.60 219.75 171C 3 Round, eye of round (IM) 54 118,957 230.00 252.00 240.46 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 20 149,522 550.00 620.00 562.51 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 9,580 515.00 605.00 523.83 180 3 Loin, strip, bnls, 0x1 41 179,883 549.50 640.00 563.84 184 1 Loin, top butt, bnls, heavy 8 7,451 345.00 345.00 345.00 184 3 Loin, top butt, boneless 24 93,520 370.00 394.50 376.03 185A 4 Loin, bottom sirloin, flap 22 61,741 500.00 530.00 505.12 185B 1 Loin, ball-tip, bnls, heavy 20 30,029 274.00 301.66 284.56 185C 1 Loin, sirloin, tri-tip (IM) 4 2,560 380.00 380.00 380.00 185D 4 Loin, tri-tip, pld (IM) 6 12,682 506.75 554.50 512.06 189A 4 Loin, tndrloin, trmd, heavy 35 48,842 1057.59 1141.00 1079.81 191A 4 Loin, butt tender, trimmed 8 6,570 1035.60 1119.00 1047.78 193 4 Flank, flank steak (IM) 20 20,688 529.38 581.03 566.40 ------------------------------------------------------------------------------- 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 10 10,847 579.00 630.00 591.89 112A 3 Rib, ribeye, bnls, light 19 39,550 659.00 700.00 676.05 112A 3 Rib, ribeye, bnls, heavy 30 83,878 635.00 701.00 670.99 113C 1 Chuck, semi-bnls, neck/off 7 5,859 224.25 249.99 233.40 114 1 Chuck, shoulder clod 9 33,493 211.00 225.07 214.80 114A 3 Chuck, shoulder clod, trmd 17 43,472 225.30 239.99 229.25 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 7 3,647 490.00 495.00 491.47 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 33 267,942 239.07 259.00 246.33 116B 1 Chuck, chuck tender (IM) 10 7,866 231.00 234.65 232.20

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 24 74,475 274.50 312.00 281.52 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 5 9,056 315.00 340.00 320.15 160 1 Round, bone-in 161 1 Round, boneless 4 5,220 235.00 236.50 235.68

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 23 53,950 235.00 246.00 237.13 168 1 Round, top inside round 32 600,217 215.00 236.61 217.44 168 3 Round, top inside round 16 77,495 225.00 245.00 229.90 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 13,959 203.00 213.00 210.26 171B 3 Round, outside round 20 56,267 217.25 241.00 221.08 171C 3 Round, eye of round (IM) 27 47,069 236.00 247.00 241.04 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 30 41,871 470.43 560.00 512.06 175 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 29 90,018 460.64 545.00 484.91 184 1 Loin, top butt, bnls, heavy 14 19,029 284.00 314.99 288.42 184 3 Loin, top butt, boneless 33 88,840 298.00 329.50 303.15 185A 4 Loin, bottom sirloin, flap 3 7,221 470.47 472.00 471.09 185B 1 Loin, ball-tip, bnls, heavy 9 22,175 250.00 285.00 258.84 185C 1 Loin, sirloin, tri-tip (IM) 7 28,761 350.00 371.00 352.28 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 27 54,947 992.09 1130.00 1028.02 191A 4 Loin, butt tender, trimmed 3 1,452 1015.00 1051.61 1018.00 193 4 Flank, flank steak (IM) 5 2,484 525.00 577.66 536.23 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 25,003 94.50 125.00 108.71 121D 4 Plate, Inside Skirt (IM) 22 21,987 385.25 431.50 408.38 121C 4 Plate, Outside Skirt (IM) 10 8,706 565.00 617.70 600.90 121E 6 Outside Skirt, pld (IM) 6 16,215 775.00 890.00 788.60

Cap, Wedge Meat & (IM) Lean 27 110,569 295.00 313.00 304.57

Pectoral Meat 21 39,475 295.00 335.00 307.73 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 29 76,492 179.40 209.00 190.52 Ground Beef 75% Ground Beef 81% 61 251,023 191.50 230.00 198.21 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 24 48,046 280.00 310.00 287.73 Ground Beef Chuck 80% 33 55,225 221.00 245.00 224.71 Ground Beef Round 85% 32 81,898 260.00 276.00 265.27 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% 0 0 Blended Ground Beef 81% 14 126,840 204.00 245.00 217.78 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 15 323,889 128.00 134.50 129.73 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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