USDA Boxed Beef Cutout Closing Prices for September 3

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: 196.10 181.92 Change from prior day: 0.43 (0.74) ------------------------------------------------------------------------------- Choice/Select spread: 14.18

Total Load Count (Cuts, Trimmings, Grids): 166 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 312.42 268.41

Primal Chuck 164.95 159.55

Primal Round 166.08 163.45

Primal Loin 253.01 219.31

Primal Brisket 138.03 137.62

Primal Short Plate 142.88 146.00

Primal Flank 120.10 117.74 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 08/30 76 43 9 12 140 195.67 182.66 08/29 60 40 8 27 135 195.71 183.20 08/28 71 67 15 35 188 196.28 184.40 08/27 69 53 4 16 142 196.09 185.64 08/26 42 37 5 23 107 195.80 184.14 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.91 184.01 -------------------------------------------------------------------------------- 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 71.72 loads 2,868,944 pounds

Select Cuts 62.93 loads 2,517,189 pounds

Trimmings 15.05 loads 602,138 pounds

Ground Beef 16.58 load 663,061 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 34 72,022 587.00 636.00 597.37 112A 3 Rib, ribeye, bnls, light 16 64,171 669.50 738.00 715.44 112A 3 Rib, ribeye, bnls, heavy 52 56,005 645.00 695.00 670.68 113C 1 Chuck, semi-bnls, neck/off 4 3,066 208.50 216.00 211.81 114 1 Chuck, shoulder clod 8 31,380 194.00 204.00 198.15 114A 3 Chuck, shoulder clod, trmd 30 232,684 197.64 219.26 206.13 114D 3 Chuck, clod, top blade 9 12,845 241.00 286.00 261.57 114E 3 Chuck, clod, arm roast 20 53,318 225.00 265.00 243.18 114F 5 Chuck, clod tender (IM) 11 10,306 410.00 425.50 414.34 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 50 404,855 231.00 265.78 242.10 116B 1 Chuck, chuck tender (IM) 23 33,440 215.00 235.00 226.75

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 49 248,802 197.00 220.00 202.11 120A 3 Brisket, point/off, bnls 6 5,267 325.00 385.00 352.34 123A 3 Short Plate, short rib 29 30,404 425.00 472.00 451.70 130 4 Chuck, short rib 29 67,145 320.00 360.00 332.14 160 1 Round, bone-in 6 9,063 195.50 213.00 200.93 161 1 Round, boneless 4 2,094 200.78 216.00 208.49

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 55 163,409 233.00 250.00 237.55 168 1 Round, top inside round 25 113,688 198.00 210.28 200.08 168 3 Round, top inside round 15 34,056 206.78 223.00 213.84 169 5 Round, top inside, denuded 26 138,892 240.00 258.50 249.04

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 4,013 201.00 211.00 203.30 171B 3 Round, outside round 31 109,349 204.00 230.00 216.44 171C 3 Round, eye of round (IM) 39 86,492 211.00 235.00 220.23 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 31 52,580 478.00 509.50 484.40 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 5 6,852 445.00 481.00 455.84 180 3 Loin, strip, bnls, 0x1 45 138,668 480.00 546.00 515.91 184 1 Loin, top butt, bnls, heavy 13 12,569 292.50 331.78 307.18 184 3 Loin, top butt, boneless 25 108,547 320.00 347.00 329.89 185A 4 Loin, bottom sirloin, flap 22 63,552 334.20 361.00 346.88 185B 1 Loin, ball-tip, bnls, heavy 16 37,139 199.68 221.28 216.72 185C 1 Loin, sirloin, tri-tip (IM) 14 18,432 244.00 280.00 259.36 185D 4 Loin, tri-tip, pld (IM) 11 10,071 355.00 380.28 358.40 189A 4 Loin, tndrloin, trmd, heavy 37 126,920 953.00 1041.00 969.52 191A 4 Loin, butt tender, trimmed 7 2,607 880.94 950.00 895.47 193 4 Flank, flank steak (IM) 22 28,499 451.00 477.00 463.75 ------------------------------------------------------------------------------- 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 28,129 487.59 531.00 498.11 112A 3 Rib, ribeye, bnls, light 10 47,358 535.00 581.00 552.65 112A 3 Rib, ribeye, bnls, heavy 38 167,720 532.02 600.00 548.76 113C 1 Chuck, semi-bnls, neck/off 4 3,630 205.00 209.00 207.45 114 1 Chuck, shoulder clod 5 6,044 187.64 204.00 199.59 114A 3 Chuck, shoulder clod, trmd 23 233,281 190.65 213.00 200.05 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 5 6,166 346.05 360.00 353.43 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 47 434,961 225.07 250.00 233.11 116B 1 Chuck, chuck tender (IM) 14 48,060 219.00 235.00 224.10

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 12 21,887 204.00 227.97 211.69 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 4,175 430.00 465.00 454.08 130 4 Chuck, short rib 5 10,485 310.00 335.00 322.54 160 1 Round, bone-in 161 1 Round, boneless 4 3,115 207.50 221.00 216.49

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 14 29,052 233.00 240.00 236.85 168 1 Round, top inside round 10 54,843 198.00 207.00 199.37 168 3 Round, top inside round 13 115,765 205.34 220.00 207.82 169 5 Round, top inside, denuded 3 1,987 249.00 267.64 250.97

3 Round, top inside, side off 170 1 Round, bottom gooseneck 6 4,344 189.50 213.00 201.93 171B 3 Round, outside round 20 122,257 206.00 226.00 212.72 171C 3 Round, eye of round (IM) 15 39,740 214.90 225.00 219.12 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 25 55,674 393.15 450.00 415.11 175 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 28 158,263 350.00 415.00 364.18 184 1 Loin, top butt, bnls, heavy 6 50,050 235.00 252.00 241.65 184 3 Loin, top butt, boneless 21 118,268 243.00 271.20 249.42 185A 4 Loin, bottom sirloin, flap 11 83,889 319.73 340.00 330.96 185B 1 Loin, ball-tip, bnls, heavy 24 246,629 185.00 215.00 201.04 185C 1 Loin, sirloin, tri-tip (IM) 14 81,968 239.00 246.00 243.29 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 18 23,874 845.00 926.00 860.58 191A 4 Loin, butt tender, trimmed 5 1,977 817.00 840.00 820.91 193 4 Flank, flank steak (IM) 10 14,821 430.00 460.00 442.28 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 10,522 87.00 100.00 99.72 121D 4 Plate, Inside Skirt (IM) 27 36,635 351.00 390.00 368.61 121C 4 Plate, Outside Skirt (IM) 13 59,004 378.00 460.00 405.96 121E 6 Outside Skirt, pld (IM) 13 28,389 538.00 562.00 548.64

Cap, Wedge Meat & (IM) Lean 33 116,889 230.00 250.00 242.15

Pectoral Meat 23 68,339 240.00 260.00 248.35 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 17 163,721 163.62 189.00 176.18 Ground Beef 75% Ground Beef 81% 25 144,965 180.00 200.00 192.70 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 6 14,524 229.17 256.00 235.38 Ground Beef Chuck 80% 15 97,525 182.62 207.00 198.39 Ground Beef Round 85% 12 56,173 216.17 223.00 219.09 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% 10 117,700 197.45 215.00 211.17 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% 0 0 Blended Ground Beef Sirloin 90% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 24 540,058 94.00 111.00 106.92 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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