USDA Boxed Beef Cutout Midday Prices for September 23

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: 193.09 176.45 Change from prior day: 0.70 0.49 ------------------------------------------------------------------------------- Choice/Select spread: 16.64

Total Load Count (Cuts, Trimmings, Grids): 107 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 305.74 256.78

Primal Chuck 162.00 157.27

Primal Round 165.18 164.32

Primal Loin 252.75 207.13

Primal Brisket 132.49 129.90

Primal Short Plate 134.40 138.99

Primal Flank 113.05 111.57 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 09/20 80 56 34 23 192 192.39 175.96 09/19 80 58 11 24 173 193.01 176.90 09/18 76 81 17 28 202 193.29 176.51 09/17 67 69 22 21 179 193.01 175.76 09/16 62 48 16 19 144 193.02 176.43 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 192.94 176.31 -------------------------------------------------------------------------------- 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 30.17 loads 1,206,950 pounds

Select Cuts 42.08 loads 1,683,358 pounds

Trimmings 25.52 loads 1,020,912 pounds

Ground Beef 8.88 load 355,209 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 12 33,904 545.08 612.00 585.45 112A 3 Rib, ribeye, bnls, light 6 12,569 669.00 689.00 676.62 112A 3 Rib, ribeye, bnls, heavy 13 24,222 650.00 685.00 658.48 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 3 20,385 189.57 197.10 195.58 114A 3 Chuck, shoulder clod, trmd 9 23,725 199.57 210.49 206.02 114D 3 Chuck, clod, top blade 5 6,127 250.00 276.00 258.89 114E 3 Chuck, clod, arm roast 7 26,448 240.00 274.50 262.02 114F 5 Chuck, clod tender (IM) 6 13,610 380.00 394.38 384.34 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 24 144,547 235.00 264.07 249.66 116B 1 Chuck, chuck tender (IM) 4 15,649 231.04 238.49 235.40

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 13 31,299 195.00 210.00 197.62 120A 3 Brisket, point/off, bnls 3 6,704 365.00 370.00 365.66 123A 3 Short Plate, short rib 19 49,863 433.00 477.00 444.86 130 4 Chuck, short rib 9 11,642 308.00 334.00 324.70 160 1 Round, bone-in 161 1 Round, boneless 3 6,944 213.90 217.00 215.94

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 19 50,056 235.00 255.00 246.19 168 1 Round, top inside round 17 186,082 192.50 200.00 193.65 168 3 Round, top inside round 13 146,160 205.00 226.00 210.30 169 5 Round, top inside, denuded 3 13,800 232.00 236.00 234.64

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 15 77,079 217.00 230.00 224.34 171C 3 Round, eye of round (IM) 18 48,323 215.00 246.00 233.85 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 8 12,095 480.00 515.00 498.75 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 3 2,380 400.00 400.00 400.00 180 3 Loin, strip, bnls, 0x1 10 17,706 480.00 523.00 492.67 184 1 Loin, top butt, bnls, heavy 7 16,043 290.00 303.00 290.99 184 3 Loin, top butt, boneless 3 5,648 319.27 328.00 324.50 185A 4 Loin, bottom sirloin, flap 12 20,435 347.03 375.00 362.00 185B 1 Loin, ball-tip, bnls, heavy 11 31,962 207.62 220.00 218.25 185C 1 Loin, sirloin, tri-tip (IM) 4 8,676 255.00 260.00 255.55 185D 4 Loin, tri-tip, pld (IM) 8 25,752 351.49 376.19 352.52 189A 4 Loin, tndrloin, trmd, heavy 8 10,118 1005.00 1075.00 1037.24 191A 4 Loin, butt tender, trimmed 8 37,812 920.81 990.00 944.06 193 4 Flank, flank steak (IM) 9 11,630 430.00 460.00 446.12 ------------------------------------------------------------------------------- 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 3 1,432 464.79 468.00 466.42 112A 3 Rib, ribeye, bnls, light 5 7,287 505.00 529.00 520.35 112A 3 Rib, ribeye, bnls, heavy 13 91,559 495.00 523.00 514.35 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 19 629,927 188.00 195.00 189.00 114A 3 Chuck, shoulder clod, trmd 7 29,850 198.57 219.00 202.03 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 4,725 310.00 345.59 327.17 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 7 76,419 235.00 248.00 242.80 116B 1 Chuck, chuck tender (IM) 7 53,932 218.00 225.00 218.48

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 6 36,277 190.00 195.00 193.14 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 4 4,031 308.00 334.00 322.73 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 9 36,450 239.50 250.00 242.83 168 1 Round, top inside round 9 32,430 195.00 203.00 198.58 168 3 Round, top inside round 11 189,395 208.01 214.87 210.18 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 9 45,300 205.00 220.00 215.42 171C 3 Round, eye of round (IM) 12 30,089 215.00 230.59 225.17 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 11 74,298 341.00 383.00 361.08 184 1 Loin, top butt, bnls, heavy 5 11,522 223.40 246.20 228.49 184 3 Loin, top butt, boneless 15 62,765 232.00 246.00 237.93 185A 4 Loin, bottom sirloin, flap 3 19,382 351.80 370.00 354.26 185B 1 Loin, ball-tip, bnls, heavy 12 87,461 190.00 207.50 202.75 185C 1 Loin, sirloin, tri-tip (IM) 4 2,065 244.69 250.00 245.83 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 6 9,440 826.50 966.00 907.71 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 7 18,559 420.00 450.00 427.70 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 14,596 90.00 116.19 99.88 121D 4 Plate, Inside Skirt (IM) 12 15,874 330.00 366.00 338.69 121C 4 Plate, Outside Skirt (IM) 10 24,273 385.00 435.00 393.22 121E 6 Outside Skirt, pld (IM) 9 17,760 522.85 645.00 547.06

Cap, Wedge Meat & (IM) Lean 14 15,034 240.00 259.20 244.02

Pectoral Meat 9 25,010 238.59 262.80 249.15 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 7 81,204 160.25 174.00 162.81 Ground Beef 75% Ground Beef 81% 16 74,749 175.50 189.50 185.66 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 5 38,824 230.00 238.50 233.12 Ground Beef Chuck 80% 8 82,724 180.25 201.00 188.76 Ground Beef Round 85% 4 14,763 208.25 224.00 214.19 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% 0 0 Blended Ground Beef 81% 5 54,445 185.00 210.00 199.05 Blended Ground Beef 85% 0 0 Blended Ground Beef 90% 0 0 Blended Ground Beef 93% 0 0 Blended Ground Beef Chuck 80% 0 0 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 31 1,007,262 82.00 101.39 90.77 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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