USDA Boxed Beef Cutout Midday Prices for September 4

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: 196.48 182.21 Change from prior day: 0.38 0.29 ------------------------------------------------------------------------------- Choice/Select spread: 14.27

Total Load Count (Cuts, Trimmings, Grids): 152 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 312.10 267.28

Primal Chuck 165.29 160.64

Primal Round 165.57 164.44

Primal Loin 254.74 217.88

Primal Brisket 138.57 140.54

Primal Short Plate 143.34 146.49

Primal Flank 120.26 117.75 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/03 72 63 15 17 166 196.10 181.92 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 195.97 183.57 -------------------------------------------------------------------------------- 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 67.47 loads 2,698,713 pounds

Select Cuts 47.71 loads 1,908,210 pounds

Trimmings 11.08 loads 443,217 pounds

Ground Beef 25.62 load 1,024,920 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 18 36,835 599.00 642.00 606.56 112A 3 Rib, ribeye, bnls, light 20 15,154 654.00 694.00 682.62 112A 3 Rib, ribeye, bnls, heavy 63 76,541 657.00 740.00 673.86 113C 1 Chuck, semi-bnls, neck/off 5 6,479 205.00 215.00 206.60 114 1 Chuck, shoulder clod 20 131,989 187.70 201.05 190.74 114A 3 Chuck, shoulder clod, trmd 29 117,065 205.50 216.55 209.10 114D 3 Chuck, clod, top blade 7 3,843 269.50 282.00 273.45 114E 3 Chuck, clod, arm roast 4 43,631 225.00 242.00 231.28 114F 5 Chuck, clod tender (IM) 15 20,977 400.00 424.14 409.65 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 52 269,474 232.00 260.00 246.06 116B 1 Chuck, chuck tender (IM) 16 49,994 225.00 233.00 229.27

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 45 124,122 197.00 215.48 203.76 120A 3 Brisket, point/off, bnls 22 34,223 349.00 385.00 361.62 123A 3 Short Plate, short rib 24 35,369 403.04 473.00 441.88 130 4 Chuck, short rib 21 34,192 319.00 359.00 333.89 160 1 Round, bone-in 5 11,296 202.00 206.50 202.14 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 55 115,584 233.70 255.00 238.43 168 1 Round, top inside round 38 178,324 199.00 222.00 202.94 168 3 Round, top inside round 27 326,880 206.50 220.50 208.17 169 5 Round, top inside, denuded 16 28,754 246.00 258.00 248.91

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 52 183,764 210.00 234.00 217.97 171C 3 Round, eye of round (IM) 36 59,627 213.00 239.05 217.43 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 35 65,814 476.00 510.00 490.58 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 12 15,446 434.05 461.10 440.04 180 3 Loin, strip, bnls, 0x1 44 56,280 489.75 540.00 501.02 184 1 Loin, top butt, bnls, heavy 23 26,795 294.00 317.00 300.91 184 3 Loin, top butt, boneless 25 50,997 310.00 345.00 331.63 185A 4 Loin, bottom sirloin, flap 28 65,477 332.70 366.00 342.82 185B 1 Loin, ball-tip, bnls, heavy 26 90,289 216.00 234.00 217.15 185C 1 Loin, sirloin, tri-tip (IM) 10 20,062 254.72 281.00 256.24 185D 4 Loin, tri-tip, pld (IM) 15 9,301 360.00 377.00 363.73 189A 4 Loin, tndrloin, trmd, heavy 37 21,782 941.00 1004.00 965.75 191A 4 Loin, butt tender, trimmed 6 13,316 885.60 950.00 893.70 193 4 Flank, flank steak (IM) 22 16,984 457.33 476.55 462.81 ------------------------------------------------------------------------------- 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 20 70,517 490.50 519.00 499.94 112A 3 Rib, ribeye, bnls, light 21 26,205 525.37 580.00 546.88 112A 3 Rib, ribeye, bnls, heavy 42 155,587 526.00 566.00 537.24 113C 1 Chuck, semi-bnls, neck/off 11 18,282 205.00 213.34 208.93 114 1 Chuck, shoulder clod 7 19,713 188.00 201.00 196.70 114A 3 Chuck, shoulder clod, trmd 20 47,711 197.97 219.48 209.16 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 13 4,537 355.00 399.00 359.02 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 50 184,211 227.98 260.00 237.17 116B 1 Chuck, chuck tender (IM) 22 47,120 209.37 230.00 222.62

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 16 25,018 197.00 210.16 201.70 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 3,493 409.93 445.00 431.89 130 4 Chuck, short rib 8 5,537 310.00 335.00 325.46 160 1 Round, bone-in 161 1 Round, boneless 6 8,644 206.50 221.00 210.27

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 39 120,932 233.06 255.00 235.84 168 1 Round, top inside round 33 246,113 198.59 208.00 200.21 168 3 Round, top inside round 11 13,097 212.00 224.00 212.99 169 5 Round, top inside, denuded 8 8,491 246.00 255.50 247.45

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 25 106,645 210.00 230.00 212.27 171C 3 Round, eye of round (IM) 23 49,771 212.00 232.08 217.59 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 25 25,566 400.00 454.00 422.84 175 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 23 37,071 373.50 395.50 377.88 184 1 Loin, top butt, bnls, heavy 19 14,493 235.00 242.00 237.80 184 3 Loin, top butt, boneless 32 49,917 246.05 265.00 249.86 185A 4 Loin, bottom sirloin, flap 11 20,414 325.00 360.00 334.70 185B 1 Loin, ball-tip, bnls, heavy 16 17,401 201.20 215.00 205.07 185C 1 Loin, sirloin, tri-tip (IM) 8 26,124 238.00 245.00 239.55 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 41 300,329 828.00 941.50 834.93 191A 4 Loin, butt tender, trimmed 6 3,293 820.00 832.00 822.63 193 4 Flank, flank steak (IM) 10 17,935 437.94 460.00 449.22 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 8 26,393 87.00 110.00 94.00 121D 4 Plate, Inside Skirt (IM) 22 92,296 359.00 390.00 372.73 121C 4 Plate, Outside Skirt (IM) 13 17,239 385.00 432.45 397.77 121E 6 Outside Skirt, pld (IM) 9 37,006 555.00 659.75 595.99

Cap, Wedge Meat & (IM) Lean 48 107,737 235.00 252.00 240.03

Pectoral Meat 26 70,374 243.74 260.00 251.09 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 29 139,586 163.17 186.00 174.41 Ground Beef 75% Ground Beef 81% 68 282,314 191.00 204.00 198.21 Ground Beef 85% Ground Beef 90% Ground Beef 93% 23 69,879 234.00 255.00 241.25 Ground Beef Chuck 80% 38 227,397 196.38 213.00 205.65 Ground Beef Round 85% 40 173,635 217.00 222.00 221.28 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 40,275 196.00 211.05 203.14 Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% 0 0 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 14 342,767 97.55 109.00 106.24 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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