USDA Boxed Beef Cutout Closing Prices for November 14

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: 202.56 188.52 Change from prior day: (0.45) 0.03 ------------------------------------------------------------------------------- Choice/Select spread: 14.04

Total Load Count (Cuts, Trimmings, Grids): 170 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 336.36 273.21

Primal Chuck 171.48 168.43

Primal Round 173.26 172.38

Primal Loin 258.18 231.05

Primal Brisket 136.39 134.58

Primal Short Plate 138.80 139.38

Primal Flank 104.89 104.98 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/13 69 65 7 45 187 203.01 188.49 11/12 111 94 17 45 267 202.26 188.54 11/08 60 24 7 17 108 202.79 189.74 11/07 78 43 3 26 149 203.99 190.17 11/06 106 46 3 34 188 204.56 190.62 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 203.32 189.51 -------------------------------------------------------------------------------- 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 93.40 loads 3,735,880 pounds

Select Cuts 43.63 loads 1,745,000 pounds

Trimmings 9.03 loads 361,338 pounds

Ground Beef 23.53 load 941,348 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 22 53,851 645.57 744.59 683.07 112A 3 Rib, ribeye, bnls, light 7 10,680 716.00 800.00 739.34 112A 3 Rib, ribeye, bnls, heavy 30 87,862 685.00 798.00 734.06 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 14 28,541 203.00 215.00 211.25 114A 3 Chuck, shoulder clod, trmd 24 33,075 213.50 247.11 219.99 114D 3 Chuck, clod, top blade 6 7,222 249.00 282.00 255.30 114E 3 Chuck, clod, arm roast 8 9,290 270.00 290.00 283.08 114F 5 Chuck, clod tender (IM) 6 8,825 338.00 371.05 352.92 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 37 225,417 249.00 280.50 258.23 116B 1 Chuck, chuck tender (IM) 18 91,157 219.65 240.00 222.86

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 38 183,703 193.70 216.00 197.03 120A 3 Brisket, point/off, bnls 7 8,119 360.00 381.50 372.72 123A 3 Short Plate, short rib 10 14,323 440.00 495.00 446.11 130 4 Chuck, short rib 15 36,146 315.00 358.77 323.74 160 1 Round, bone-in 3 5,126 230.50 235.00 230.87 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 54 371,634 222.00 250.00 227.13 168 1 Round, top inside round 31 212,515 208.26 226.20 215.43 168 3 Round, top inside round 34 283,849 222.78 239.00 224.41 169 5 Round, top inside, denuded 10 16,335 255.00 279.71 260.09

3 Round, top inside, side off 170 1 Round, bottom gooseneck 7 5,745 218.00 248.00 223.91 171B 3 Round, outside round 39 218,985 217.00 251.37 230.95 171C 3 Round, eye of round (IM) 32 147,162 249.21 272.00 252.69 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 17 104,592 415.00 480.00 419.42 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 8 7,873 405.00 440.00 413.83 180 3 Loin, strip, bnls, 0x1 48 292,000 445.00 499.00 460.09 184 1 Loin, top butt, bnls, heavy 12 18,623 260.00 290.00 278.88 184 3 Loin, top butt, boneless 9 15,472 270.00 295.00 281.63 185A 4 Loin, bottom sirloin, flap 51 424,366 350.00 375.00 353.02 185B 1 Loin, ball-tip, bnls, heavy 16 67,784 260.00 268.00 261.17 185C 1 Loin, sirloin, tri-tip (IM) 18 65,046 298.75 321.20 305.93 185D 4 Loin, tri-tip, pld (IM) 5 6,433 385.00 406.00 395.72 189A 4 Loin, tndrloin, trmd, heavy 24 61,405 1162.00 1300.00 1217.55 191A 4 Loin, butt tender, trimmed 0 0 193 4 Flank, flank steak (IM) 38 168,736 360.00 405.00 365.58 ------------------------------------------------------------------------------- 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 16 35,689 485.00 550.46 495.19 112A 3 Rib, ribeye, bnls, light 4 19,274 539.50 564.50 543.62 112A 3 Rib, ribeye, bnls, heavy 25 52,474 524.00 578.85 544.90 113C 1 Chuck, semi-bnls, neck/off 5 14,376 212.95 225.00 219.14 114 1 Chuck, shoulder clod 13 172,741 203.00 225.00 208.96 114A 3 Chuck, shoulder clod, trmd 10 28,412 215.00 240.00 222.58 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 0 0 116A 3 Chuck, roll, lxl, neck/off 33 98,147 250.00 275.46 258.79 116B 1 Chuck, chuck tender (IM) 16 118,478 219.95 230.00 222.36

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 14 41,782 190.00 225.00 201.45 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 1,493 430.00 465.00 438.09 130 4 Chuck, short rib 5 5,375 316.00 335.00 320.15 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 4 20,567 222.00 250.00 224.68 168 1 Round, top inside round 15 58,462 208.26 226.20 215.23 168 3 Round, top inside round 15 118,546 221.00 230.50 223.66 169 5 Round, top inside, denuded 4 11,191 257.00 267.00 258.41

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 5,265 208.00 248.00 227.63 171B 3 Round, outside round 20 104,520 228.00 255.00 232.48 171C 3 Round, eye of round (IM) 25 63,723 237.00 265.00 246.52 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 12 52,044 375.00 441.00 381.36 175 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 15 20,613 402.74 440.50 410.90 184 1 Loin, top butt, bnls, heavy 9 87,131 233.00 255.46 241.37 184 3 Loin, top butt, boneless 15 20,809 250.00 275.50 257.95 185A 4 Loin, bottom sirloin, flap 28 245,707 337.00 375.00 351.87 185B 1 Loin, ball-tip, bnls, heavy 5 7,709 261.00 275.00 262.42 185C 1 Loin, sirloin, tri-tip (IM) 8 15,283 282.70 300.00 289.42 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 19 19,383 915.00 1030.00 962.47 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 12 37,500 358.88 391.56 364.51 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 7 29,088 85.00 120.00 89.24 121D 4 Plate, Inside Skirt (IM) 33 142,136 315.00 340.00 322.33 121C 4 Plate, Outside Skirt (IM) 25 46,475 373.00 435.00 392.33 121E 6 Outside Skirt, pld (IM) 10 21,574 528.00 640.00 542.14

Cap, Wedge Meat & (IM) Lean 50 210,102 229.00 275.00 255.85

Pectoral Meat 31 122,673 234.00 285.00 266.14 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 23 138,348 162.65 176.46 166.49 Ground Beef 75% 0 0 Ground Beef 81% 29 341,429 174.30 192.00 183.87 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 6 46,125 239.15 248.45 244.97 Ground Beef Chuck 80% 10 25,512 161.26 195.46 189.34 Ground Beef Round 85% 6 41,385 219.15 230.45 222.96 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% Blended Ground Beef 81% 12 96,640 183.83 209.00 190.74 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% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 14 319,338 115.29 122.25 117.94 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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