USDA Boxed Beef Cutout Closing Prices for March 12

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: 241.51 236.76 Change from prior day: 0.04 (0.95) ------------------------------------------------------------------------------- Choice/Select spread: 4.75

Total Load Count (Cuts, Trimmings, Grids): 141 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 314.17 302.50

Primal Chuck 211.51 209.64

Primal Round 228.10 227.74

Primal Loin 313.56 298.22

Primal Brisket 178.91 188.49

Primal Short Plate 167.87 167.86

Primal Flank 137.41 137.53 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/11 56 22 7 21 106 241.47 237.71 03/10 53 21 13 19 105 238.90 235.99 03/07 48 13 8 13 82 236.02 232.87 03/06 54 24 3 20 101 235.58 233.00 03/05 69 29 6 35 139 234.51 231.93 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 237.30 234.30 -------------------------------------------------------------------------------- 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 66.40 loads 2,656,021 pounds

Select Cuts 31.01 loads 1,240,234 pounds

Trimmings 9.05 loads 361,964 pounds

Ground Beef 34.46 load 1,378,388 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 51 63,386 525.00 590.00 550.88 112A 3 Rib, ribeye, bnls, light 23 64,285 581.00 722.00 652.85 112A 3 Rib, ribeye, bnls, heavy 139 122,814 571.00 719.00 620.57 113C 1 Chuck, semi-bnls, neck/off 7 6,081 238.23 276.50 252.83 114 1 Chuck, shoulder clod 19 37,726 250.00 271.50 255.55 114A 3 Chuck, shoulder clod, trmd 65 133,012 259.00 300.00 276.26 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 10 31,542 328.00 361.33 330.85 114F 5 Chuck, clod tender (IM) 13 8,039 370.60 430.00 407.62 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 121 166,260 270.00 315.00 290.48 116B 1 Chuck, chuck tender (IM) 45 46,099 329.57 349.00 334.63

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 112 118,920 245.01 276.50 267.30 120A 3 Brisket, point/off, bnls 21 13,373 415.00 450.00 441.56 123A 3 Short Plate, short rib 41 55,387 440.00 550.00 490.15 130 4 Chuck, short rib 55 40,975 316.00 360.00 338.07 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 125 136,234 300.00 341.50 309.86 168 1 Round, top inside round 94 127,142 289.93 319.76 302.60 168 3 Round, top inside round 26 243,796 308.38 328.00 316.09 169 5 Round, top inside, denuded 15 30,159 335.60 381.00 360.94

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 6,156 260.90 282.79 264.74 171B 3 Round, outside round 72 431,200 253.00 299.00 265.84 171C 3 Round, eye of round (IM) 100 66,660 319.00 343.00 333.61 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 25 15,696 598.00 642.00 614.75 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 10 11,546 549.00 626.00 586.95 180 3 Loin, strip, bnls, 0x1 115 108,397 624.50 723.00 669.00 184 1 Loin, top butt, bnls, heavy 28 21,555 313.00 348.00 329.61 184 3 Loin, top butt, boneless 71 36,127 341.60 371.50 349.41 185A 4 Loin, bottom sirloin, flap 64 53,296 447.47 485.00 466.12 185B 1 Loin, ball-tip, bnls, heavy 50 49,490 368.00 400.00 385.85 185C 1 Loin, sirloin, tri-tip (IM) 13 39,320 360.00 386.00 369.91 185D 4 Loin, tri-tip, pld (IM) 29 12,953 465.00 506.28 477.24 189A 4 Loin, tndrloin, trmd, heavy 87 49,962 1035.00 1196.50 1085.87 191A 4 Loin, butt tender, trimmed 5 1,879 1025.63 1080.00 1059.66 193 4 Flank, flank steak (IM) 27 56,091 460.60 500.00 474.94 ------------------------------------------------------------------------------- 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 12 5,831 527.00 575.94 531.31 112A 3 Rib, ribeye, bnls, light 18 17,562 585.00 625.00 594.16 112A 3 Rib, ribeye, bnls, heavy 52 142,163 577.00 641.81 587.73 113C 1 Chuck, semi-bnls, neck/off 10 22,187 232.49 275.00 255.63 114 1 Chuck, shoulder clod 8 12,737 255.00 275.00 258.67 114A 3 Chuck, shoulder clod, trmd 13 34,101 270.00 280.76 278.41 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 10 5,065 385.00 410.00 389.76 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 27 117,467 265.00 300.00 279.55 116B 1 Chuck, chuck tender (IM) 11 13,509 327.00 360.00 339.34

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 23,995 265.00 295.00 273.64 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 3 3,285 450.00 475.00 466.53 130 4 Chuck, short rib 160 1 Round, bone-in 161 1 Round, boneless 5 4,694 287.00 291.50 287.63

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 17 39,279 300.00 330.00 307.02 168 1 Round, top inside round 20 61,941 299.49 317.00 301.48 168 3 Round, top inside round 21 98,214 297.00 340.00 305.45 169 5 Round, top inside, denuded 7 4,160 352.00 389.70 368.12

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 19 61,114 253.00 283.47 269.98 171C 3 Round, eye of round (IM) 24 56,340 311.00 340.00 328.22 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 25 19,782 573.00 653.00 594.87 175 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 24 36,837 608.00 646.00 629.51 184 1 Loin, top butt, bnls, heavy 8 20,912 330.00 335.50 331.62 184 3 Loin, top butt, boneless 24 47,206 335.62 364.70 353.36 185A 4 Loin, bottom sirloin, flap 4 6,029 470.00 475.94 472.81 185B 1 Loin, ball-tip, bnls, heavy 16 28,262 380.00 391.00 387.29 185C 1 Loin, sirloin, tri-tip (IM) 5 18,989 349.00 370.00 357.36 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 27 60,316 982.00 1154.00 1048.75 191A 4 Loin, butt tender, trimmed 6 2,541 1038.00 1065.00 1051.28 193 4 Flank, flank steak (IM) 5 10,687 475.00 500.00 476.20 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 5 24,301 99.00 109.00 104.85 121D 4 Plate, Inside Skirt (IM) 28 141,274 352.00 390.00 353.57 121C 4 Plate, Outside Skirt (IM) 21 21,747 438.00 525.00 482.19 121E 6 Outside Skirt, pld (IM) 9 10,466 712.00 769.00 720.43

Cap, Wedge Meat & (IM) Lean 79 144,204 313.75 346.50 322.34

Pectoral Meat 38 60,529 318.00 345.00 338.58 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 51 172,452 226.00 261.00 232.48 Ground Beef 75% Ground Beef 81% 72 279,655 240.00 282.70 254.44 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% 26 71,598 334.00 355.70 342.75 Ground Beef Chuck 80% 33 252,566 256.00 285.00 271.74 Ground Beef Round 85% 40 195,897 290.00 326.00 310.20 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% 11 48,200 250.80 258.60 251.84 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 15 361,964 155.00 165.50 158.97 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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