USDA Boxed Beef Cutout Closing Prices for March 24

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: 241.12 235.93 Change from prior day: 0.96 2.27 ------------------------------------------------------------------------------- Choice/Select spread: 5.19

Total Load Count (Cuts, Trimmings, Grids): 111 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 331.46 319.68

Primal Chuck 194.67 193.12

Primal Round 223.02 222.48

Primal Loin 326.92 311.07

Primal Brisket 188.31 190.25

Primal Short Plate 173.35 173.34

Primal Flank 139.67 139.75 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 03/21 54 22 6 22 104 240.16 233.66 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 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 242.41 235.60 -------------------------------------------------------------------------------- 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 65.76 loads 2,630,473 pounds

Select Cuts 20.05 loads 802,151 pounds

Trimmings 4.88 loads 195,373 pounds

Ground Beef 20.33 load 813,300 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 30 191,316 564.00 640.00 589.48 112A 3 Rib, ribeye, bnls, light 6 3,561 675.00 745.00 696.52 112A 3 Rib, ribeye, bnls, heavy 29 114,469 613.00 715.00 654.46 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 9 116,015 230.00 255.00 232.55 114A 3 Chuck, shoulder clod, trmd 19 85,657 230.00 260.00 248.18 114D 3 Chuck, clod, top blade 7 18,456 362.00 403.00 374.39 114E 3 Chuck, clod, arm roast 24 125,447 270.11 325.68 291.91 114F 5 Chuck, clod tender (IM) 14 15,960 423.60 475.00 440.53 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 55 360,837 242.00 285.60 261.58 116B 1 Chuck, chuck tender (IM) 14 52,719 309.55 337.60 314.65

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 15 40,072 266.00 300.00 279.58 120A 3 Brisket, point/off, bnls 8 20,481 443.93 474.00 449.03 123A 3 Short Plate, short rib 21 39,588 476.00 541.00 505.72 130 4 Chuck, short rib 15 21,968 319.93 350.00 331.61 160 1 Round, bone-in 3 2,721 271.50 275.49 273.77 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 38 192,960 295.00 320.00 300.54 168 1 Round, top inside round 13 51,841 289.00 308.00 305.72 168 3 Round, top inside round 17 66,918 289.00 341.00 310.81 169 5 Round, top inside, denuded 21 95,311 348.08 366.50 354.77

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 4,676 246.00 246.50 246.33 171B 3 Round, outside round 39 277,944 240.00 284.50 253.44 171C 3 Round, eye of round (IM) 37 70,430 312.05 350.00 325.07 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 22 84,665 620.96 687.00 639.71 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 18 38,019 705.00 755.00 725.10 184 1 Loin, top butt, bnls, heavy 7 13,125 330.00 351.01 336.83 184 3 Loin, top butt, boneless 28 104,602 350.10 375.00 360.73 185A 4 Loin, bottom sirloin, flap 17 31,616 465.00 511.00 494.29 185B 1 Loin, ball-tip, bnls, heavy 19 68,413 403.00 418.00 411.38 185C 1 Loin, sirloin, tri-tip (IM) 6 3,706 379.59 401.50 385.50 185D 4 Loin, tri-tip, pld (IM) 4 3,673 499.00 521.00 500.01 189A 4 Loin, tndrloin, trmd, heavy 34 76,491 1056.00 1231.00 1094.57 191A 4 Loin, butt tender, trimmed 10 10,298 1060.94 1095.00 1066.04 193 4 Flank, flank steak (IM) 14 38,619 491.00 520.00 500.94 ------------------------------------------------------------------------------- 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 6 48,922 541.00 592.00 564.40 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 5 3,008 601.73 651.01 610.81 113C 1 Chuck, semi-bnls, neck/off 4 12,708 246.00 263.59 250.78 114 1 Chuck, shoulder clod 4 24,689 234.76 241.00 235.10 114A 3 Chuck, shoulder clod, trmd 5 23,011 245.24 258.00 248.52 114D 3 Chuck, clod, top blade 0 0 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 8 3,980 390.00 436.50 395.71 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 23 167,992 247.00 295.00 252.90 116B 1 Chuck, chuck tender (IM) 4 11,531 317.00 330.00 327.82

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 5 6,733 275.78 292.00 284.95 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 3,221 475.00 541.00 529.38 130 4 Chuck, short rib 6 3,190 340.00 364.00 349.60 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 9 88,973 280.50 324.70 289.97 168 1 Round, top inside round 5 33,751 300.79 310.00 304.63 168 3 Round, top inside round 4 16,113 305.00 316.50 311.12 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 171B 3 Round, outside round 9 27,302 245.00 265.00 258.76 171C 3 Round, eye of round (IM) 8 20,670 314.50 347.70 330.69 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 5 6,531 603.18 651.01 624.93 175 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 5 5,107 650.00 695.00 659.05 184 1 Loin, top butt, bnls, heavy 4 50,467 335.00 351.01 337.41 184 3 Loin, top butt, boneless 7 19,753 355.00 375.00 369.49 185A 4 Loin, bottom sirloin, flap 3 7,740 460.97 490.00 469.42 185B 1 Loin, ball-tip, bnls, heavy 10 24,552 378.70 421.70 409.71 185C 1 Loin, sirloin, tri-tip (IM) 3 20,958 349.36 390.00 361.54 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 10 8,082 1025.00 1166.00 1067.15 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 4 7,014 490.00 520.00 495.91 ------------------------------------------------------------------------------- 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) 24 89,039 360.93 395.00 375.44 121C 4 Plate, Outside Skirt (IM) 7 4,956 475.00 531.01 507.40 121E 6 Outside Skirt, pld (IM) 14 25,055 705.60 755.00 729.08

Cap, Wedge Meat & (IM) Lean 19 29,918 324.80 345.00 338.14

Pectoral Meat 11 22,661 330.00 358.00 348.77 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 14 166,849 195.00 225.96 201.81 Ground Beef 75% 0 0 Ground Beef 81% 19 132,183 224.42 256.00 246.25 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% Ground Beef Chuck 80% 23 333,143 225.00 266.00 242.92 Ground Beef Round 85% 6 6,483 290.00 305.00 300.83 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% 11 42,875 240.00 265.00 247.18 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% 0 0 -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 11 195,373 145.09 159.00 153.69 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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