USDA Boxed Beef Cutout Closing Prices for July 31

July 31 (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: 263.66 260.60 Change from prior day: 0.74 (0.23) ------------------------------------------------------------------------------- Choice/Select spread: 3.06

Total Load Count (Cuts, Trimmings, Grids): 132 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 352.03 326.09 Primal Chuck 228.10 230.68 Primal Round 259.80 263.26 Primal Loin 322.59 315.37 Primal Brisket 207.16 204.69 Primal Short Plate 195.39 195.39 Primal Flank 154.02 154.62 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 07/30 85 36 22 34 177 262.92 260.83 07/29 77 44 10 18 149 261.34 259.03 07/28 52 23 8 19 102 259.30 256.17 07/25 42 26 5 12 84 257.38 254.33 07/24 88 41 7 16 152 255.56 252.84 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 259.30 256.64 -------------------------------------------------------------------------------- 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 63.34 loads 2,533,694 pounds Select Cuts 36.34 loads 1,453,468 pounds Trimmings 18.85 loads 753,861 pounds Ground Beef 13.64 load 545,778 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 23 127,066 602.00 675.00 621.07 112A 3 Rib, ribeye, bnls, light 27 125,202 695.00 751.50 719.33 112A 3 Rib, ribeye, bnls, heavy 50 89,862 687.73 760.00 714.61 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 10 21,236 263.00 301.00 280.84 114A 3 Chuck, shoulder clod, trmd 20 43,050 281.00 316.00 306.67 114D 3 Chuck, clod, top blade 7 19,138 360.00 400.35 371.27 114E 3 Chuck, clod, arm roast 9 24,981 300.00 342.00 314.13 114F 5 Chuck, clod tender (IM) 10 14,180 550.00 601.00 567.20 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 38 186,805 324.00 366.50 347.50 116B 1 Chuck, chuck tender (IM) 19 42,730 305.00 340.00 326.04

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 53 602,972 303.00 332.47 306.20 120A 3 Brisket, point/off, bnls 13 14,647 510.00 587.00 552.42 123A 3 Short Plate, short rib 20 31,939 520.00 571.00 556.10 130 4 Chuck, short rib 20 33,977 340.00 385.00 368.23 160 1 Round, bone-in 161 1 Round, boneless 5 7,878 305.00 371.00 343.69

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 29 65,567 350.00 406.50 391.48 168 1 Round, top inside round 18 40,157 320.00 370.00 342.52 168 3 Round, top inside round 27 154,660 342.77 381.00 375.66 169 5 Round, top inside, denuded 7 5,464 385.00 440.00 427.91

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 5,667 295.50 314.75 304.84 171B 3 Round, outside round 25 53,968 313.00 357.00 343.65 171C 3 Round, eye of round (IM) 31 54,251 295.00 347.00 328.24 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 12,227 591.03 639.95 601.42 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 11 9,741 589.00 630.00 594.03 180 3 Loin, strip, bnls, 0x1 44 113,328 636.00 703.00 654.81 184 1 Loin, top butt, bnls, heavy 10 9,128 370.00 427.00 396.76 184 3 Loin, top butt, boneless 21 100,252 360.00 422.00 375.05 185A 4 Loin, bottom sirloin, flap 23 51,462 489.06 541.00 507.88 185B 1 Loin, ball-tip, bnls, heavy 13 55,272 340.00 370.00 365.78 185C 1 Loin, sirloin, tri-tip (IM) 12 31,111 385.00 440.00 395.56 185D 4 Loin, tri-tip, pld (IM) 4 3,593 549.00 563.00 554.81 189A 4 Loin, tndrloin, trmd, heavy 23 22,162 951.00 1106.00 1023.38 191A 4 Loin, butt tender, trimmed 9 30,628 1010.00 1063.00 1018.33 193 4 Flank, flank steak (IM) 23 52,316 549.00 616.00 569.49 ------------------------------------------------------------------------------- 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 15 161,097 540.00 633.00 552.08 112A 3 Rib, ribeye, bnls, light 8 10,917 650.00 694.50 659.47 112A 3 Rib, ribeye, bnls, heavy 28 62,381 619.74 701.00 647.83 113C 1 Chuck, semi-bnls, neck/off 6 96,999 280.00 300.00 280.94 114 1 Chuck, shoulder clod 4 9,014 283.00 305.00 289.96 114A 3 Chuck, shoulder clod, trmd 14 91,165 285.00 328.00 301.70 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 6,303 480.00 575.00 495.72 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 73,627 325.00 370.00 342.47 116B 1 Chuck, chuck tender (IM) 7 9,956 315.00 345.00 329.89

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 24 389,573 300.50 330.00 301.94 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 5 6,478 540.00 561.00 552.89 130 4 Chuck, short rib 6 52,943 340.00 365.50 353.54 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 10 10,770 370.00 405.00 388.35 168 1 Round, top inside round 168 3 Round, top inside round 9 53,521 330.00 381.00 368.95 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 15 33,149 291.00 353.00 334.13 171C 3 Round, eye of round (IM) 17 24,752 289.00 342.00 322.28 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 6 7,327 575.00 613.00 594.44 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 19 46,054 588.00 659.35 605.27 184 1 Loin, top butt, bnls, heavy 8 14,253 358.83 389.69 367.14 184 3 Loin, top butt, boneless 11 29,371 350.00 430.35 384.92 185A 4 Loin, bottom sirloin, flap 7 14,033 469.00 530.00 480.50 185B 1 Loin, ball-tip, bnls, heavy 13 36,116 328.40 365.00 356.09 185C 1 Loin, sirloin, tri-tip (IM) 10 34,088 378.75 412.00 385.91 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 22 36,051 976.00 1072.00 994.40 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 18,091 563.00 600.00 575.16 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 0 0 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 28 42,293 442.74 480.00 454.61 121C 4 Plate, Outside Skirt (IM) 15 25,849 548.28 660.00 594.24 121E 6 Outside Skirt, pld (IM) 6 13,471 840.00 870.05 847.78

Cap, Wedge Meat & (IM) Lean 32 74,221 335.00 365.00 354.60

Pectoral Meat 22 32,213 335.00 369.00 355.63 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 79,788 230.00 254.00 237.67 Ground Beef 75% 0 0 Ground Beef 81% 23 145,014 236.00 300.00 263.63 Ground Beef 85% Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 4 6,554 284.00 295.00 289.94 Ground Beef Round 85% 3 9,184 297.00 312.71 304.63 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% Blended Ground Beef 81% 9 43,560 266.15 281.00 273.42 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 26 703,041 148.42 155.49 152.00 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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