USDA Boxed Beef Cutout Midday Prices for July 18

July 18 (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: 248.32 242.27 Change from prior day: (1.49) (1.97) ------------------------------------------------------------------------------- Choice/Select spread: 6.05

Total Load Count (Cuts, Trimmings, Grids): 111 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 342.41 315.14 Primal Chuck 212.00 210.99 Primal Round 220.00 219.31 Primal Loin 321.18 310.81 Primal Brisket 209.11 206.35 Primal Short Plate 188.98 188.98 Primal Flank 157.52 153.19 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/17 93 55 30 24 202 249.81 244.24 07/16 89 58 16 27 190 250.82 242.86 07/15 73 53 21 24 171 250.53 243.46 07/14 56 18 4 35 114 251.14 244.42 07/11 46 29 20 13 108 251.79 244.84 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 250.82 243.96 -------------------------------------------------------------------------------- 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 54.64 loads 2,185,591 pounds Select Cuts 21.68 loads 867,206 pounds Trimmings 17.33 loads 693,067 pounds Ground Beef 16.87 load 674,680 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 13 62,494 621.00 691.00 664.98 112A 3 Rib, ribeye, bnls, light 13 36,945 700.00 775.00 720.27 112A 3 Rib, ribeye, bnls, heavy 35 304,920 650.00 778.00 705.05 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 10 53,331 255.00 272.00 260.13 114A 3 Chuck, shoulder clod, trmd 17 186,217 250.00 286.00 266.88 114D 3 Chuck, clod, top blade 7 31,985 335.00 400.00 351.04 114E 3 Chuck, clod, arm roast 10 87,983 284.50 295.50 290.61 114F 5 Chuck, clod tender (IM) 3 3,009 615.00 630.00 624.14 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 29 202,042 288.14 325.00 305.34 116B 1 Chuck, chuck tender (IM) 7 70,468 274.65 290.00 277.66

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 19 101,242 295.00 339.00 309.31 120A 3 Brisket, point/off, bnls 9 14,122 549.81 565.00 557.71 123A 3 Short Plate, short rib 130 4 Chuck, short rib 8 25,063 349.05 385.00 353.24 160 1 Round, bone-in 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 19 69,515 303.00 330.00 314.77 168 1 Round, top inside round 18 111,195 264.61 289.00 277.47 168 3 Round, top inside round 7 52,668 280.00 295.00 287.98 169 5 Round, top inside, denuded 11 61,498 302.00 324.00 305.35

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 17 45,305 280.00 301.00 288.32 171C 3 Round, eye of round (IM) 21 59,027 270.00 304.00 284.25 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 12 49,137 569.05 690.75 608.47 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 4 40,862 585.00 585.00 585.00 180 3 Loin, strip, bnls, 0x1 25 183,048 643.74 682.00 667.15 184 1 Loin, top butt, bnls, heavy 5 3,638 395.00 404.41 398.14 184 3 Loin, top butt, boneless 16 46,533 378.74 429.76 414.48 185A 4 Loin, bottom sirloin, flap 16 81,109 451.65 512.47 459.99 185B 1 Loin, ball-tip, bnls, heavy 8 12,551 310.00 320.00 310.92 185C 1 Loin, sirloin, tri-tip (IM) 5 4,887 385.00 408.00 395.99 185D 4 Loin, tri-tip, pld (IM) 3 1,886 535.00 555.67 538.34 189A 4 Loin, tndrloin, trmd, heavy 23 46,337 980.00 1052.41 1010.31 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 3 2,610 610.00 625.00 615.17 ------------------------------------------------------------------------------- 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 8 174,068 589.53 595.00 590.97 112A 3 Rib, ribeye, bnls, heavy 14 43,166 590.00 732.00 607.82 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 3 9,278 255.00 259.61 255.88 114A 3 Chuck, shoulder clod, trmd 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 4 8,437 535.00 580.00 538.33 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 13 37,965 295.00 315.35 305.96 116B 1 Chuck, chuck tender (IM) 3 4,425 275.00 295.00 283.39

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 8 117,179 297.00 334.64 306.30 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 3 3,012 518.75 518.75 518.75 130 4 Chuck, short rib 0 0 160 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 9,424 310.00 324.50 313.31 168 1 Round, top inside round 4 39,667 265.00 284.00 270.79 168 3 Round, top inside round 4 7,368 280.81 295.00 283.98 169 5 Round, top inside, denuded 3 1,925 324.00 326.61 324.89

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 171C 3 Round, eye of round (IM) 6 11,445 272.00 296.61 283.74 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 4 53,503 564.83 568.74 565.31 175 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 3 16,464 581.82 595.00 585.24 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 5 13,747 383.50 415.35 405.84 185A 4 Loin, bottom sirloin, flap 6 66,363 452.00 480.00 455.89 185B 1 Loin, ball-tip, bnls, heavy 8 20,079 290.00 315.00 306.10 185C 1 Loin, sirloin, tri-tip (IM) 3 22,101 349.81 389.86 352.95 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 5 25,767 960.19 980.00 968.98 191A 4 Loin, butt tender, trimmed 3 1,344 959.05 998.00 976.84 193 4 Flank, flank steak (IM) 4 2,335 579.81 614.67 600.99 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 4 86,866 117.00 130.00 117.62 121D 4 Plate, Inside Skirt (IM) 8 27,032 442.00 475.00 458.98 121C 4 Plate, Outside Skirt (IM) 10 17,188 565.00 630.00 596.43 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 7 12,316 300.00 310.37 300.27

Pectoral Meat 14 21,883 303.87 340.00 316.74 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 8 94,859 244.75 249.00 246.57 Ground Beef 75% 0 0 Ground Beef 81% 13 167,045 255.00 284.00 271.52 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 4 10,887 273.73 332.67 322.62 Ground Beef Chuck 80% 13 144,279 258.00 296.00 269.64 Ground Beef Round 85% 3 1,825 301.00 307.00 304.83 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% 8 57,200 250.77 277.05 252.99 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 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 19 610,267 132.45 137.10 134.70 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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