USDA Boxed Beef Cutout Closing Prices for May 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: 223.82 212.64 Change from prior day: 0.56 0.43 ------------------------------------------------------------------------------- Choice/Select spread: 11.18

Total Load Count (Cuts, Trimmings, Grids): 109 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 341.24 321.27

Primal Chuck 178.24 173.19

Primal Round 181.27 180.78

Primal Loin 306.26 273.96

Primal Brisket 188.40 181.98

Primal Short Plate 173.41 173.41

Primal Flank 145.73 142.20 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/09 71 60 6 33 171 223.26 212.21 05/08 74 59 9 28 170 225.65 212.51 05/07 85 61 23 28 197 227.15 213.26 05/06 61 68 19 32 178 227.88 213.56 05/05 45 38 9 30 123 228.90 215.45 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 226.57 213.40 -------------------------------------------------------------------------------- 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 41.35 loads 1,653,877 pounds

Select Cuts 27.91 loads 1,116,450 pounds

Trimmings 6.58 loads 263,335 pounds

Ground Beef 33.59 load 1,343,422 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 21 116,298 600.00 672.00 660.00 112A 3 Rib, ribeye, bnls, light 17 52,043 650.13 745.00 685.73 112A 3 Rib, ribeye, bnls, heavy 33 83,301 650.00 750.00 702.36 113C 1 Chuck, semi-bnls, neck/off 5 8,815 210.00 249.91 223.29 114 1 Chuck, shoulder clod 15 39,479 210.00 222.00 218.87 114A 3 Chuck, shoulder clod, trmd 10 39,866 225.21 238.00 229.31 114D 3 Chuck, clod, top blade 4 4,244 385.00 390.00 387.90 114E 3 Chuck, clod, arm roast 11 61,688 239.77 265.00 245.41 114F 5 Chuck, clod tender (IM) 8 3,670 505.00 542.00 530.52 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 27 206,651 240.05 266.00 248.04 116B 1 Chuck, chuck tender (IM) 13 24,059 210.00 237.00 226.82

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 21 33,050 280.00 322.00 290.49 120A 3 Brisket, point/off, bnls 7 8,324 495.00 550.00 515.75 123A 3 Short Plate, short rib 24 42,748 484.00 515.00 502.98 130 4 Chuck, short rib 16 34,292 310.00 366.26 327.49 160 1 Round, bone-in 4 5,170 221.50 237.59 228.34 161 1 Round, boneless 4 7,370 235.00 248.12 236.27

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 24 30,888 235.00 275.00 251.27 168 1 Round, top inside round 11 27,609 224.92 242.00 231.98 168 3 Round, top inside round 18 96,417 229.79 274.34 246.20 169 5 Round, top inside, denuded 5 19,064 278.00 290.85 283.97

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 28 127,174 215.00 243.00 220.21 171C 3 Round, eye of round (IM) 20 55,466 229.00 250.00 237.47 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 11 11,148 573.03 669.50 635.19 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 7 17,815 530.05 550.00 540.34 180 3 Loin, strip, bnls, 0x1 14 19,357 583.00 635.00 612.96 184 1 Loin, top butt, bnls, heavy 5 4,959 350.00 360.00 352.32 184 3 Loin, top butt, boneless 9 65,151 340.00 390.00 360.67 185A 4 Loin, bottom sirloin, flap 16 55,686 500.00 566.00 510.15 185B 1 Loin, ball-tip, bnls, heavy 17 74,690 257.00 306.00 275.10 185C 1 Loin, sirloin, tri-tip (IM) 8 29,434 375.09 391.00 385.59 185D 4 Loin, tri-tip, pld (IM) 11 10,055 525.00 551.00 531.26 189A 4 Loin, tndrloin, trmd, heavy 21 40,251 1053.00 1211.00 1082.79 191A 4 Loin, butt tender, trimmed 5 3,322 1030.00 1065.00 1059.14 193 4 Flank, flank steak (IM) 13 5,940 560.00 576.00 566.48 ------------------------------------------------------------------------------- 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 8,773 559.62 603.00 581.71 112A 3 Rib, ribeye, bnls, light 4 2,275 665.00 690.00 679.91 112A 3 Rib, ribeye, bnls, heavy 18 49,721 640.00 690.00 662.85 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 5 60,777 211.00 229.00 214.34 114A 3 Chuck, shoulder clod, trmd 7 27,742 228.00 232.00 228.77 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 10 12,673 470.11 496.50 476.40 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 16 71,753 240.00 260.00 246.93 116B 1 Chuck, chuck tender (IM) 7 11,467 210.00 236.00 230.51

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 12 69,346 280.00 320.00 281.38 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 4 14,762 477.00 481.00 478.17 130 4 Chuck, short rib 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 6 7,597 233.00 254.70 240.29 168 1 Round, top inside round 3 62,849 218.13 224.92 220.98 168 3 Round, top inside round 3 14,126 225.59 260.00 231.43 169 5 Round, top inside, denuded 3 4,424 278.00 286.00 280.12

3 Round, top inside, side off 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 6 20,194 215.00 240.00 225.49 171C 3 Round, eye of round (IM) 7 17,589 232.00 256.70 239.75 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 39,418 481.01 571.50 501.72 175 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 17 70,972 451.05 540.00 471.30 184 1 Loin, top butt, bnls, heavy 4 5,178 283.00 309.00 301.85 184 3 Loin, top butt, boneless 9 30,031 301.00 337.00 315.19 185A 4 Loin, bottom sirloin, flap 5 13,316 470.64 529.74 501.56 185B 1 Loin, ball-tip, bnls, heavy 11 28,543 240.00 301.00 258.52 185C 1 Loin, sirloin, tri-tip (IM) 8 89,644 330.00 398.33 344.93 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 16 22,500 972.00 1126.00 1020.21 191A 4 Loin, butt tender, trimmed 6 4,084 993.13 1020.00 1000.43 193 4 Flank, flank steak (IM) 5 5,668 530.00 565.00 535.38 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 13 17,956 85.04 115.00 94.66 121D 4 Plate, Inside Skirt (IM) 16 24,194 394.75 426.00 410.21 121C 4 Plate, Outside Skirt (IM) 21 27,833 560.00 611.00 583.77 121E 6 Outside Skirt, pld (IM) 11 23,940 790.00 899.00 801.43

Cap, Wedge Meat & (IM) Lean 31 100,977 295.00 330.00 307.50

Pectoral Meat 8 35,841 295.00 315.00 307.27 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 22 324,067 168.10 215.75 187.67 Ground Beef 75% Ground Beef 81% 20 194,500 183.00 216.50 204.09 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 4 12,128 288.91 310.00 306.96 Ground Beef Chuck 80% 18 230,539 181.19 238.85 213.34 Ground Beef Round 85% 7 12,179 259.91 279.00 265.48 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% 18 207,041 190.50 261.00 246.76 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% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 17 263,335 120.00 130.00 127.35 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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