USDA Boxed Beef Cutout Closing Prices for November 18

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: 200.56 189.71 Change from prior day: (0.60) 1.27 ------------------------------------------------------------------------------- Choice/Select spread: 10.86

Total Load Count (Cuts, Trimmings, Grids): 115 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 331.92 274.48

Primal Chuck 170.27 172.18

Primal Round 171.52 172.24

Primal Loin 255.63 231.21

Primal Brisket 135.16 136.98

Primal Short Plate 136.92 137.70

Primal Flank 104.74 102.97 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/15 67 34 14 16 132 201.16 188.44 11/14 93 44 9 24 170 202.56 188.52 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 202.35 188.74 -------------------------------------------------------------------------------- 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 67.32 loads 2,692,972 pounds

Select Cuts 27.25 loads 1,089,815 pounds

Trimmings 0.00 loads 0 pounds

Ground Beef 20.64 load 825,687 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 26 102,951 623.00 736.00 654.74 112A 3 Rib, ribeye, bnls, light 9 25,171 688.60 801.50 715.04 112A 3 Rib, ribeye, bnls, heavy 26 74,003 689.10 775.00 715.60 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 19 91,935 200.00 221.00 209.70 114A 3 Chuck, shoulder clod, trmd 13 75,988 214.00 228.00 222.79 114D 3 Chuck, clod, top blade 8 8,637 263.00 277.00 270.16 114E 3 Chuck, clod, arm roast 8 8,695 266.50 290.00 277.93 114F 5 Chuck, clod tender (IM) 8 8,572 340.00 355.00 342.00 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 46 190,549 239.00 286.50 254.21 116B 1 Chuck, chuck tender (IM) 20 75,038 215.00 240.23 222.32

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 37 218,512 194.00 215.00 197.94 120A 3 Brisket, point/off, bnls 11 13,562 357.00 390.00 362.41 123A 3 Short Plate, short rib 23 55,047 438.75 502.00 450.46 130 4 Chuck, short rib 25 44,141 302.00 350.00 322.36 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 41 204,888 222.00 248.00 227.92 168 1 Round, top inside round 25 98,985 208.26 219.00 214.55 168 3 Round, top inside round 22 113,245 223.04 240.00 225.80 169 5 Round, top inside, denuded 13 54,444 255.00 269.00 260.30

3 Round, top inside, side off 170 1 Round, bottom gooseneck 3 2,107 214.50 221.00 217.20 171B 3 Round, outside round 38 203,437 220.00 250.00 232.84 171C 3 Round, eye of round (IM) 26 83,027 238.00 270.00 250.69 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 10 7,046 443.65 473.00 455.73 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 9 6,594 410.00 448.00 411.26 180 3 Loin, strip, bnls, 0x1 44 207,847 451.00 510.98 472.83 184 1 Loin, top butt, bnls, heavy 12 11,024 248.00 282.00 261.49 184 3 Loin, top butt, boneless 31 231,646 275.00 286.00 276.07 185A 4 Loin, bottom sirloin, flap 18 149,767 355.00 363.00 358.36 185B 1 Loin, ball-tip, bnls, heavy 21 48,346 250.00 270.00 255.17 185C 1 Loin, sirloin, tri-tip (IM) 9 21,402 284.00 311.00 302.29 185D 4 Loin, tri-tip, pld (IM) 6 5,958 384.83 409.00 403.07 189A 4 Loin, tndrloin, trmd, heavy 21 47,239 1135.10 1321.00 1210.03 191A 4 Loin, butt tender, trimmed 5 5,025 1040.35 1225.00 1049.22 193 4 Flank, flank steak (IM) 14 8,605 360.00 396.00 368.92 ------------------------------------------------------------------------------- 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 13 33,437 497.00 556.50 520.37 112A 3 Rib, ribeye, bnls, light 3 7,911 552.00 587.00 574.60 112A 3 Rib, ribeye, bnls, heavy 18 32,520 541.00 570.00 558.36 113C 1 Chuck, semi-bnls, neck/off 3 2,542 215.50 218.60 216.43 114 1 Chuck, shoulder clod 5 17,574 206.00 212.00 208.03 114A 3 Chuck, shoulder clod, trmd 4 22,831 214.00 224.50 220.21 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 11 15,192 280.00 295.00 286.99 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 16 49,941 245.05 269.00 260.81 116B 1 Chuck, chuck tender (IM) 8 21,745 219.40 230.00 222.09

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 16 133,708 195.00 224.70 199.37 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 130 4 Chuck, short rib 5 48,677 316.00 339.00 318.27 160 1 Round, bone-in 0 0 161 1 Round, boneless 0 0

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 6 11,454 230.00 235.27 230.36 168 1 Round, top inside round 9 41,113 210.00 222.00 214.31 168 3 Round, top inside round 8 43,406 221.00 236.00 225.42 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 15 71,147 225.00 250.00 233.16 171C 3 Round, eye of round (IM) 14 35,835 245.90 265.00 251.54 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 7 29,657 351.20 444.50 369.62 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 11 17,843 408.00 435.00 419.31 184 1 Loin, top butt, bnls, heavy 7 42,744 242.30 260.00 243.55 184 3 Loin, top butt, boneless 12 9,718 247.00 278.00 257.64 185A 4 Loin, bottom sirloin, flap 4 15,186 356.50 389.00 366.78 185B 1 Loin, ball-tip, bnls, heavy 10 14,187 248.00 268.00 252.75 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 9 13,798 935.00 1015.50 986.71 191A 4 Loin, butt tender, trimmed 3 1,220 935.00 965.00 936.52 193 4 Flank, flank steak (IM) 4 2,106 355.00 390.00 371.09 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 14 171,362 71.00 105.00 72.04 121D 4 Plate, Inside Skirt (IM) 11 21,916 321.00 360.00 325.47 121C 4 Plate, Outside Skirt (IM) 11 25,083 373.00 426.00 384.47 121E 6 Outside Skirt, pld (IM) 6 14,643 514.38 605.00 539.31

Cap, Wedge Meat & (IM) Lean 27 136,317 244.25 270.00 250.09

Pectoral Meat 12 21,886 265.00 276.50 271.48 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 14 235,372 154.13 185.00 161.14 Ground Beef 75% Ground Beef 81% 20 277,893 171.00 202.01 179.22 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 7 28,139 235.00 255.00 239.90 Ground Beef Chuck 80% 14 134,428 188.46 212.00 196.63 Ground Beef Round 85% 8 36,619 218.00 229.00 225.28 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% 11 61,120 183.83 213.00 188.38 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 0 0 Frozen 50% lean trimmings 0 0 -------------------------------------------------------------------------------- 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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