USDA Boxed Beef Cutout Closing Prices for March 21

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: 240.16 233.66 Change from prior day: (1.41) (1.11) ------------------------------------------------------------------------------- Choice/Select spread: 6.50

Total Load Count (Cuts, Trimmings, Grids): 104 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 330.38 310.53

Primal Chuck 194.44 192.89

Primal Round 224.27 223.41

Primal Loin 325.99 307.84

Primal Brisket 180.55 185.22

Primal Short Plate 168.19 168.19

Primal Flank 136.52 137.83 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/20 45 32 11 50 138 241.57 234.77 03/19 106 51 6 31 194 243.37 236.30 03/18 53 27 6 14 100 244.08 237.22 03/17 41 26 4 16 86 242.85 236.06 03/14 59 17 5 14 95 240.44 236.50 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 242.46 236.17 -------------------------------------------------------------------------------- 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 54.06 loads 2,162,577 pounds

Select Cuts 21.76 loads 870,364 pounds

Trimmings 5.56 loads 222,461 pounds

Ground Beef 22.27 load 890,993 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 18 138,092 563.00 620.00 597.10 112A 3 Rib, ribeye, bnls, light 8 12,946 641.00 749.79 677.03 112A 3 Rib, ribeye, bnls, heavy 30 121,538 613.00 683.00 662.59 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 14 63,338 231.00 268.00 235.73 114A 3 Chuck, shoulder clod, trmd 16 163,332 243.00 271.00 251.04 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 8 82,877 300.00 320.00 309.86 114F 5 Chuck, clod tender (IM) 9 13,409 420.00 475.00 444.18 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 30 125,585 242.25 280.00 258.86 116B 1 Chuck, chuck tender (IM) 11 58,510 310.00 335.00 318.35

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 17 23,267 253.00 287.50 271.23 120A 3 Brisket, point/off, bnls 9 13,689 450.00 474.00 459.02 123A 3 Short Plate, short rib 7 21,874 504.00 552.00 538.24 130 4 Chuck, short rib 16 25,325 308.00 350.00 324.83 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 31 120,035 300.00 315.21 305.57 168 1 Round, top inside round 17 44,344 302.86 314.00 307.43 168 3 Round, top inside round 16 175,744 300.00 333.00 305.45 169 5 Round, top inside, denuded 16 66,736 344.75 377.00 351.42

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 32 153,993 247.29 270.00 255.01 171C 3 Round, eye of round (IM) 32 102,678 301.00 347.05 325.29 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 5 2,055 640.00 691.00 678.87 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 3 1,747 662.00 662.00 662.00 180 3 Loin, strip, bnls, 0x1 21 80,703 701.00 752.00 723.77 184 1 Loin, top butt, bnls, heavy 11 9,051 330.00 340.00 331.66 184 3 Loin, top butt, boneless 21 91,390 344.00 400.50 361.98 185A 4 Loin, bottom sirloin, flap 13 30,827 460.50 503.00 485.98 185B 1 Loin, ball-tip, bnls, heavy 13 23,534 398.00 435.00 407.16 185C 1 Loin, sirloin, tri-tip (IM) 12 24,333 371.00 401.00 379.63 185D 4 Loin, tri-tip, pld (IM) 7 9,706 490.00 523.00 493.04 189A 4 Loin, tndrloin, trmd, heavy 27 121,761 1056.00 1227.00 1077.63 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 14,728 455.00 505.00 477.83 ------------------------------------------------------------------------------- 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 5 2,169 545.00 591.72 558.08 112A 3 Rib, ribeye, bnls, light 5 5,053 605.00 645.00 616.44 112A 3 Rib, ribeye, bnls, heavy 14 12,297 593.00 649.79 610.67 113C 1 Chuck, semi-bnls, neck/off 0 0 114 1 Chuck, shoulder clod 10 146,046 231.00 240.00 232.87 114A 3 Chuck, shoulder clod, trmd 10 20,136 241.00 280.00 255.84 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 8 6,056 376.00 410.00 404.50 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 19 198,051 251.00 280.00 256.61 116B 1 Chuck, chuck tender (IM) 3 7,486 318.00 333.75 320.05

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 7 16,660 263.38 285.00 278.07 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 5 9,293 316.00 340.00 337.01 160 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 3 7,507 304.60 305.00 304.77 168 1 Round, top inside round 6 30,243 295.29 308.00 301.92 168 3 Round, top inside round 3 3,204 298.24 318.00 304.86 169 5 Round, top inside, denuded 4 1,540 361.00 369.42 363.88

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 3 1,684 240.00 244.00 240.78 171B 3 Round, outside round 12 39,560 241.92 286.00 253.25 171C 3 Round, eye of round (IM) 10 34,269 313.00 335.00 316.48 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 8 8,256 599.00 635.00 620.60 175 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 3 2,294 672.00 695.00 686.45 184 1 Loin, top butt, bnls, heavy 3 40,039 342.00 354.00 353.72 184 3 Loin, top butt, boneless 4 7,937 355.00 375.00 366.28 185A 4 Loin, bottom sirloin, flap 0 0 185B 1 Loin, ball-tip, bnls, heavy 5 13,722 400.00 410.00 407.65 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 17 25,388 1025.00 1178.00 1062.46 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 121D 4 Plate, Inside Skirt (IM) 12 34,170 356.00 390.00 362.38 121C 4 Plate, Outside Skirt (IM) 12 14,428 475.00 535.00 511.86 121E 6 Outside Skirt, pld (IM) 3 2,286 755.00 769.00 762.38

Cap, Wedge Meat & (IM) Lean 24 63,203 330.00 359.00 340.09

Pectoral Meat 14 13,291 331.00 355.00 346.96 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 22 221,192 203.00 261.00 217.29 Ground Beef 75% Ground Beef 81% 20 236,154 220.00 260.00 228.24 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% Ground Beef Chuck 80% 18 107,859 232.00 272.00 243.85 Ground Beef Round 85% 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% 7 50,572 214.67 255.80 231.51 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 6 222,461 137.00 156.00 150.10 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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