USDA Boxed Beef Cutout Closing Prices for March 27

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: 189.96 188.51 Change from prior day: (0.47) (0.66) ------------------------------------------------------------------------------- Choice/Select spread: 1.45

Total Load Count (Cuts, Trimmings, Grids): 241 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 283.89 281.61

Primal Chuck 162.44 160.53

Primal Round 161.35 162.38

Primal Loin 252.43 247.91

Primal Brisket 132.55 132.07

Primal Short Plate 137.68 141.04

Primal Flank 109.93 106.49 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/26 88 41 12 38 179 190.43 189.17 03/25 83 38 11 40 172 190.58 190.21 03/22 66 35 16 23 140 191.43 192.28 03/21 103 39 3 21 167 192.98 193.24 03/20 114 37 5 39 195 193.41 193.03 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 191.77 191.59 -------------------------------------------------------------------------------- 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 133.19 loads 5,327,775 pounds

Select Cuts 58.96 loads 2,358,282 pounds

Trimmings 12.33 loads 493,179 pounds

Ground Beef 36.48 load 1,459,193 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 42 109,408 527.84 587.00 535.87 112A 3 Rib, ribeye, bnls, light 35 203,419 580.00 623.00 591.28 112A 3 Rib, ribeye, bnls, heavy 96 199,692 572.49 637.00 597.08 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 20 86,333 187.00 207.98 189.16 114A 3 Chuck, shoulder clod, trmd 85 266,792 197.00 231.00 202.14 114D 3 Chuck, clod, top blade 6 8,645 270.00 306.00 279.05 114E 3 Chuck, clod, arm roast 9 14,556 245.00 276.00 254.12 114F 5 Chuck, clod tender (IM) 15 16,575 360.00 365.00 361.66 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 133 378,069 225.15 255.00 234.10 116B 1 Chuck, chuck tender (IM) 61 188,723 211.50 238.00 215.66

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 122 136,814 190.00 218.00 200.13 120A 3 Brisket, point/off, bnls 24 23,504 323.00 361.00 343.42 123A 3 Short Plate, short rib 43 42,785 418.00 461.50 437.58 130 4 Chuck, short rib 43 53,629 321.77 360.00 331.43 160 1 Round, bone-in 6 28,827 186.75 202.00 191.71 161 1 Round, boneless 7 5,561 200.50 217.98 207.70

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 130 452,927 211.99 240.00 217.62 168 1 Round, top inside round 99 335,282 189.37 211.00 195.57 168 3 Round, top inside round 63 515,777 197.00 223.00 201.48 169 5 Round, top inside, denuded 19 33,633 231.76 240.00 236.25

3 Round, top inside, side off 170 1 Round, bottom gooseneck 8 12,418 196.50 210.00 199.95 171B 3 Round, outside round 59 133,410 201.00 227.00 205.76 171C 3 Round, eye of round (IM) 74 173,049 223.00 247.00 229.06 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 57 230,180 470.00 537.50 511.96 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 20 80,971 440.00 476.00 456.81 180 3 Loin, strip, bnls, 0x1 92 258,130 488.00 546.00 520.47 184 1 Loin, top butt, bnls, heavy 21 13,654 296.30 331.00 306.82 184 3 Loin, top butt, boneless 77 91,930 315.00 340.00 325.99 185A 4 Loin, bottom sirloin, flap 67 106,072 390.00 431.00 412.83 185B 1 Loin, ball-tip, bnls, heavy 49 105,698 223.00 250.00 238.83 185C 1 Loin, sirloin, tri-tip (IM) 23 86,111 252.00 306.00 254.40 185D 4 Loin, tri-tip, pld (IM) 29 26,903 350.00 376.00 359.99 189A 4 Loin, tndrloin, trmd, heavy 85 377,404 842.00 919.48 863.59 191A 4 Loin, butt tender, trimmed 8 22,240 925.00 950.00 926.10 193 4 Flank, flank steak (IM) 20 17,901 396.76 445.00 425.12 ------------------------------------------------------------------------------- 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 18 14,458 530.00 570.00 546.48 112A 3 Rib, ribeye, bnls, light 13 23,349 590.00 611.00 598.17 112A 3 Rib, ribeye, bnls, heavy 43 67,732 589.71 631.00 606.10 113C 1 Chuck, semi-bnls, neck/off 16 17,654 205.00 210.00 207.65 114 1 Chuck, shoulder clod 16 138,579 187.40 207.98 193.20 114A 3 Chuck, shoulder clod, trmd 24 180,329 198.15 219.89 201.25 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 15 12,767 326.00 356.00 333.62 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 50 150,391 224.79 243.95 233.03 116B 1 Chuck, chuck tender (IM) 18 69,033 211.50 230.00 213.24

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 6 20,364 195.74 221.00 198.02 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 6,354 400.00 440.00 411.30 130 4 Chuck, short rib 7 6,144 330.00 340.00 333.67 160 1 Round, bone-in 161 1 Round, boneless 8 10,335 197.00 212.00 204.42

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 28 39,671 214.15 227.00 219.23 168 1 Round, top inside round 37 147,880 190.49 220.49 195.13 168 3 Round, top inside round 22 85,280 199.97 216.00 204.69 169 5 Round, top inside, denuded 14 18,657 233.00 245.82 236.71

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 9,833 197.00 200.00 199.86 171B 3 Round, outside round 34 242,831 197.32 223.95 202.92 171C 3 Round, eye of round (IM) 29 80,924 223.00 248.00 229.40 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 25 28,917 490.00 525.15 509.84 175 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 24 22,185 480.00 531.81 514.92 184 1 Loin, top butt, bnls, heavy 14 57,095 274.95 315.00 288.52 184 3 Loin, top butt, boneless 44 77,890 300.00 336.81 315.21 185A 4 Loin, bottom sirloin, flap 11 39,555 404.85 430.00 410.58 185B 1 Loin, ball-tip, bnls, heavy 25 110,906 210.00 246.00 229.96 185C 1 Loin, sirloin, tri-tip (IM) 10 42,348 252.00 270.00 258.08 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 34 148,851 845.00 1012.00 862.93 191A 4 Loin, butt tender, trimmed 5 5,706 814.80 855.00 826.88 193 4 Flank, flank steak (IM) 10 13,358 390.00 445.00 400.63 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 39,606 115.00 130.00 121.57 121D 4 Plate, Inside Skirt (IM) 28 74,580 357.00 380.10 361.62 121C 4 Plate, Outside Skirt (IM) 14 30,901 430.00 500.65 446.33 121E 6 Outside Skirt, pld (IM) 5 6,257 527.75 595.00 554.48

Cap, Wedge Meat & (IM) Lean 61 133,405 254.26 275.00 261.29

Pectoral Meat 66 471,822 230.00 280.00 239.72 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 62 200,808 160.00 186.00 171.42 Ground Beef 75% Ground Beef 81% 85 418,193 177.00 200.00 186.95 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 29 75,407 258.99 278.50 267.78 Ground Beef Chuck 80% 48 180,568 187.00 221.17 197.97 Ground Beef Round 85% 45 228,579 226.00 241.28 230.54 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% 10 104,039 178.00 218.10 198.40 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 23 493,179 86.51 96.00 90.26 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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