USDA Boxed Beef Cutout Closing Prices for August 21

August 21 (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: 250.46 240.82 Change from prior day: (1.09) (2.25) ------------------------------------------------------------------------------- Choice/Select spread: 9.63

Total Load Count (Cuts, Trimmings, Grids): 159 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 352.35 317.77 Primal Chuck 211.33 210.31 Primal Round 235.80 232.10 Primal Loin 313.95 292.91 Primal Brisket 202.51 202.84 Primal Short Plate 187.73 187.73 Primal Flank 145.37 142.39 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/20 114 64 13 24 215 251.55 243.07 08/19 97 67 23 31 218 252.91 243.91 08/18 77 38 14 24 152 255.10 246.57 08/15 66 36 14 12 128 255.54 248.38 08/14 67 41 19 14 140 256.74 248.57 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 254.37 246.10 -------------------------------------------------------------------------------- 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 65.37 loads 2,614,893 pounds Select Cuts 59.99 loads 2,399,700 pounds Trimmings 15.89 loads 635,789 pounds Ground Beef 18.16 load 726,519 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 19 42,074 625.00 686.00 634.55 112A 3 Rib, ribeye, bnls, light 13 26,741 689.00 771.00 737.63 112A 3 Rib, ribeye, bnls, heavy 41 111,765 679.82 763.00 703.99 113C 1 Chuck, semi-bnls, neck/off 7 9,663 255.00 265.00 260.36 114 1 Chuck, shoulder clod 12 103,283 221.00 251.00 248.98 114A 3 Chuck, shoulder clod, trmd 30 114,716 250.00 281.00 262.92 114D 3 Chuck, clod, top blade 5 5,329 345.00 380.05 347.92 114E 3 Chuck, clod, arm roast 16 43,383 271.00 320.00 284.30 114F 5 Chuck, clod tender (IM) 6 17,024 440.00 531.00 457.24 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 62 362,802 287.00 335.00 301.80 116B 1 Chuck, chuck tender (IM) 23 140,378 293.00 335.84 306.71

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 30 129,856 293.00 317.60 301.68 120A 3 Brisket, point/off, bnls 6 5,505 532.00 560.00 552.46 123A 3 Short Plate, short rib 16 41,302 517.00 567.00 553.59 130 4 Chuck, short rib 17 17,680 344.50 385.00 371.62 160 1 Round, bone-in 161 1 Round, boneless 3 5,567 295.00 307.00 303.55

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 40 116,282 290.00 366.00 321.52 168 1 Round, top inside round 24 51,874 288.00 335.00 311.33 168 3 Round, top inside round 35 146,440 294.00 334.51 308.19 169 5 Round, top inside, denuded 15 20,989 358.30 402.00 371.07

3 Round, top inside, side off 170 1 Round, bottom gooseneck 8 7,545 261.00 300.00 278.77 171B 3 Round, outside round 39 216,670 270.00 330.00 288.73 171C 3 Round, eye of round (IM) 47 128,319 293.00 345.05 307.80 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 24 86,028 561.93 615.00 576.85 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 14 39,040 555.00 604.88 562.67 180 3 Loin, strip, bnls, 0x1 28 44,554 620.00 679.00 637.33 184 1 Loin, top butt, bnls, heavy 8 10,238 330.00 356.00 346.48 184 3 Loin, top butt, boneless 22 101,625 315.00 366.25 334.55 185A 4 Loin, bottom sirloin, flap 31 56,478 467.00 540.00 493.43 185B 1 Loin, ball-tip, bnls, heavy 17 14,178 396.00 426.50 407.84 185C 1 Loin, sirloin, tri-tip (IM) 7 7,433 375.00 430.00 393.57 185D 4 Loin, tri-tip, pld (IM) 3 1,775 551.00 561.00 559.57 189A 4 Loin, tndrloin, trmd, heavy 36 71,471 1026.00 1162.50 1106.10 191A 4 Loin, butt tender, trimmed 3 2,453 1070.00 1075.00 1070.25 193 4 Flank, flank steak (IM) 18 18,680 511.05 551.00 528.68 ------------------------------------------------------------------------------- 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 5 2,606 535.00 585.00 547.50 112A 3 Rib, ribeye, bnls, light 11 24,502 590.00 650.00 619.47 112A 3 Rib, ribeye, bnls, heavy 11 42,865 590.00 650.00 607.80 113C 1 Chuck, semi-bnls, neck/off 4 9,709 259.50 275.84 261.21 114 1 Chuck, shoulder clod 7 24,007 250.00 270.00 251.84 114A 3 Chuck, shoulder clod, trmd 15 79,149 250.00 285.00 264.32 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 7 5,504 441.24 505.00 467.21 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 49 620,843 281.00 336.00 304.40 116B 1 Chuck, chuck tender (IM) 11 61,713 316.34 340.00 322.30

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 8 147,933 300.00 316.00 302.95 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 12,090 509.00 557.00 552.14 130 4 Chuck, short rib 8 8,246 345.00 380.00 350.51 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 14 146,520 280.00 360.00 309.69 168 1 Round, top inside round 9 29,911 289.00 319.88 304.13 168 3 Round, top inside round 18 181,017 298.00 330.00 302.56 169 5 Round, top inside, denuded 8 14,093 321.00 379.00 356.65

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 95,921 238.00 286.84 264.42 171B 3 Round, outside round 15 80,144 268.00 315.25 280.73 171C 3 Round, eye of round (IM) 26 90,059 302.00 335.00 311.22 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 13 12,891 524.00 584.50 532.10 175 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 8 27,878 500.00 577.00 511.33 184 1 Loin, top butt, bnls, heavy 10 18,775 309.95 329.71 316.55 184 3 Loin, top butt, boneless 14 173,582 315.00 346.00 321.94 185A 4 Loin, bottom sirloin, flap 18 62,564 436.02 510.00 446.92 185B 1 Loin, ball-tip, bnls, heavy 10 49,981 385.00 410.00 392.06 185C 1 Loin, sirloin, tri-tip (IM) 4 3,361 375.00 400.00 379.19 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 17 128,320 1000.42 1109.00 1037.87 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 2,341 515.00 543.75 518.47 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 6 51,833 117.95 175.00 133.96 121D 4 Plate, Inside Skirt (IM) 28 126,288 410.00 445.00 416.27 121C 4 Plate, Outside Skirt (IM) 28 79,925 520.71 628.00 553.50 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 37 82,910 348.00 387.00 364.64

Pectoral Meat 25 85,660 363.00 391.00 381.39 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 15 194,071 236.75 251.00 238.53 Ground Beef 75% Ground Beef 81% 21 72,106 244.00 275.00 263.49 Ground Beef 85% Ground Beef 90% Ground Beef 93% Ground Beef Chuck 80% 11 103,141 272.00 305.00 274.25 Ground Beef Round 85% 5 24,157 307.00 320.00 317.77 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% 12 107,555 255.12 281.05 262.25 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 27 635,789 134.00 148.05 141.22 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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