USDA Boxed Beef Cutout Closing Prices for June 20

June 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 3:00 p.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: 240.89 233.37 Change from prior day: 0.43 0.28 ------------------------------------------------------------------------------- Choice/Select spread: 7.51

Total Load Count (Cuts, Trimmings, Grids): 123 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 374.55 363.48 Primal Chuck 197.67 196.17 Primal Round 191.67 190.65 Primal Loin 324.13 299.14 Primal Brisket 204.73 203.01 Primal Short Plate 178.57 178.57 Primal Flank 152.06 146.46 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 06/19 60 47 15 15 137 240.46 233.09 06/18 67 39 27 32 165 239.54 232.05 06/17 60 50 31 28 169 236.80 229.27 06/16 54 45 13 18 131 234.24 226.11 06/13 83 37 3 50 173 231.87 223.72 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 236.58 228.85 -------------------------------------------------------------------------------- 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 56.28 loads 2,251,379 pounds Select Cuts 31.06 loads 1,242,423 pounds Trimmings 18.02 loads 720,843 pounds Ground Beef 17.21 load 688,284 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 21 86,662 713.97 766.00 719.98 112A 3 Rib, ribeye, bnls, light 13 15,578 815.00 830.00 820.89 112A 3 Rib, ribeye, bnls, heavy 31 58,363 772.00 840.00 810.98 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 11 28,068 257.88 276.00 265.45 114A 3 Chuck, shoulder clod, trmd 11 37,838 271.14 292.00 279.67 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 24 144,992 265.00 310.00 288.48 114F 5 Chuck, clod tender (IM) 8 22,393 575.00 605.00 583.54 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 27 137,430 282.33 312.01 298.56 116B 1 Chuck, chuck tender (IM) 11 29,594 259.00 276.00 268.89

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 38 179,110 306.50 332.00 315.33 120A 3 Brisket, point/off, bnls 8 4,537 555.00 590.00 573.76 123A 3 Short Plate, short rib 11 21,811 472.68 562.00 502.47 130 4 Chuck, short rib 20 26,077 329.00 360.00 339.86 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 39 119,485 255.00 285.00 268.03 168 1 Round, top inside round 13 26,329 232.88 255.00 241.05 168 3 Round, top inside round 13 119,665 240.00 259.00 243.89 169 5 Round, top inside, denuded 17 79,048 267.00 289.99 284.95

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 8 8,173 225.00 249.00 233.43 171B 3 Round, outside round 36 194,393 237.00 276.01 250.57 171C 3 Round, eye of round (IM) 43 78,504 250.00 280.00 266.62 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 17 107,209 580.34 685.00 618.71 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 10 10,542 562.00 626.00 581.79 180 3 Loin, strip, bnls, 0x1 32 74,816 645.97 722.39 661.28 184 1 Loin, top butt, bnls, heavy 5 6,940 374.88 430.00 425.31 184 3 Loin, top butt, boneless 39 334,444 397.00 445.00 414.36 185A 4 Loin, bottom sirloin, flap 20 34,210 512.26 556.00 526.70 185B 1 Loin, ball-tip, bnls, heavy 13 42,237 270.00 302.00 285.91 185C 1 Loin, sirloin, tri-tip (IM) 16 14,334 362.88 411.00 390.48 185D 4 Loin, tri-tip, pld (IM) 5 3,013 500.00 554.00 516.20 189A 4 Loin, tndrloin, trmd, heavy 31 50,537 1008.97 1141.00 1039.91 191A 4 Loin, butt tender, trimmed 3 1,981 856.00 1001.00 985.02 193 4 Flank, flank steak (IM) 9 9,005 590.00 632.00 607.01 ------------------------------------------------------------------------------- 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 112A 3 Rib, ribeye, bnls, light 10 20,799 780.00 822.00 801.43 112A 3 Rib, ribeye, bnls, heavy 9 15,326 754.33 807.00 790.02 113C 1 Chuck, semi-bnls, neck/off 4 3,223 250.00 280.00 265.47 114 1 Chuck, shoulder clod 4 8,791 262.36 278.00 270.01 114A 3 Chuck, shoulder clod, trmd 9 40,698 260.00 292.39 268.35 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 10 23,940 530.00 562.00 544.83 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 25 157,800 282.00 302.39 287.23 116B 1 Chuck, chuck tender (IM) 6 9,682 246.00 276.50 261.71

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 17 146,409 300.00 334.96 312.58 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 8 42,322 322.00 360.00 340.86 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 15 75,451 258.00 276.00 263.01 168 1 Round, top inside round 9 25,144 235.00 247.00 243.86 168 3 Round, top inside round 14 65,037 239.00 265.00 250.60 169 5 Round, top inside, denuded 4 6,276 277.93 294.96 285.61

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 8,202 208.00 229.00 224.96 171B 3 Round, outside round 13 27,983 227.00 253.20 242.52 171C 3 Round, eye of round (IM) 14 18,672 250.00 276.80 264.69 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 16,123 574.83 625.00 585.69 175 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 35,340 600.00 650.39 613.52 184 1 Loin, top butt, bnls, heavy 5 6,079 316.80 349.00 345.47 184 3 Loin, top butt, boneless 7 12,573 321.00 384.99 358.18 185A 4 Loin, bottom sirloin, flap 9 87,210 489.00 520.00 497.51 185B 1 Loin, ball-tip, bnls, heavy 12 87,186 265.00 290.59 267.13 185C 1 Loin, sirloin, tri-tip (IM) 5 41,519 327.00 390.00 334.31 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 21 102,404 968.00 1066.50 975.97 191A 4 Loin, butt tender, trimmed 5 1,317 990.55 1019.65 999.40 193 4 Flank, flank steak (IM) 3 5,867 565.00 601.00 568.01 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 6 13,732 123.00 155.00 134.49 121D 4 Plate, Inside Skirt (IM) 17 39,243 439.00 466.00 450.88 121C 4 Plate, Outside Skirt (IM) 11 6,624 600.00 662.00 622.83 121E 6 Outside Skirt, pld (IM) 4 1,940 835.00 920.00 888.34

Cap, Wedge Meat & (IM) Lean 28 92,797 280.00 307.00 293.91

Pectoral Meat 15 22,369 275.00 317.00 290.53 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 5 61,546 196.95 207.00 202.11 Ground Beef 75% Ground Beef 81% 16 52,009 200.00 222.00 204.90 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 4 2,201 288.75 326.50 305.24 Ground Beef Chuck 80% 11 101,865 211.00 243.00 236.55 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% 16 145,480 200.56 254.00 220.80 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 26 720,843 103.00 129.93 118.81 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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