USDA Boxed Beef Cutout Midday Prices for May 20

This table details boxed beef cutout prices supplied daily by the U.S. Department of Agriculture. Prices and loads traded are as of 11:30 a.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: 229.65 219.06 Change from prior day: 2.43 1.52 ------------------------------------------------------------------------------- Choice/Select spread: 10.59

Total Load Count (Cuts, Trimmings, Grids): 92 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES

Primal Rib 349.49 335.24

Primal Chuck 189.05 183.27

Primal Round 182.49 181.56

Primal Loin 312.21 280.65

Primal Brisket 189.66 186.96

Primal Short Plate 173.51 173.51

Primal Flank 148.09 141.99 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 05/19 66 31 5 20 123 227.22 217.54 05/16 53 37 6 25 122 225.98 216.71 05/15 54 36 6 20 116 225.21 215.47 05/14 109 67 9 29 214 225.08 215.46 05/13 71 60 11 35 178 226.61 215.53 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 226.02 216.14 -------------------------------------------------------------------------------- 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 38.45 loads 1,538,139 pounds

Select Cuts 28.31 loads 1,132,285 pounds

Trimmings 6.05 loads 241,945 pounds

Ground Beef 19.22 load 768,892 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 9 13,605 630.00 692.00 651.44 112A 3 Rib, ribeye, bnls, light 8 19,114 675.00 767.00 708.33 112A 3 Rib, ribeye, bnls, heavy 19 36,244 685.00 751.83 727.50 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 4 8,658 231.00 247.00 232.52 114A 3 Chuck, shoulder clod, trmd 10 56,039 230.00 252.00 242.58 114D 3 Chuck, clod, top blade 6 7,759 327.75 359.00 333.97 114E 3 Chuck, clod, arm roast 5 16,520 250.00 265.00 258.43 114F 5 Chuck, clod tender (IM) 4 2,135 523.50 564.00 526.09 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 20 102,897 255.79 275.00 267.15 116B 1 Chuck, chuck tender (IM) 11 19,529 226.00 251.00 240.46

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 18 118,778 280.00 318.00 288.62 120A 3 Brisket, point/off, bnls 10 5,868 518.00 551.00 528.93 123A 3 Short Plate, short rib 8 12,016 485.00 510.00 494.96 130 4 Chuck, short rib 11 30,354 300.00 371.36 324.70 160 1 Round, bone-in 4 5,695 220.00 259.50 256.29 161 1 Round, boneless 3 1,628 226.00 242.50 232.67

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 22 103,184 235.00 275.00 246.44 168 1 Round, top inside round 15 281,841 214.62 248.28 219.07 168 3 Round, top inside round 11 96,962 230.00 262.00 232.44 169 5 Round, top inside, denuded 3 27,018 265.00 280.00 265.60

3 Round, top inside, side off 170 1 Round, bottom gooseneck 4 5,791 214.50 240.00 219.88 171B 3 Round, outside round 22 68,417 221.00 250.50 232.01 171C 3 Round, eye of round (IM) 20 19,936 239.00 257.00 246.17 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 12 3,356 571.00 602.00 583.10 175 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 20 39,790 575.00 687.28 598.13 184 1 Loin, top butt, bnls, heavy 4 3,104 340.00 368.00 346.02 184 3 Loin, top butt, boneless 16 34,387 380.00 410.00 390.94 185A 4 Loin, bottom sirloin, flap 8 49,041 500.00 556.00 519.47 185B 1 Loin, ball-tip, bnls, heavy 8 153,253 261.00 290.10 274.24 185C 1 Loin, sirloin, tri-tip (IM) 4 3,943 363.00 406.00 373.87 185D 4 Loin, tri-tip, pld (IM) 15 60,457 497.00 550.00 500.00 189A 4 Loin, tndrloin, trmd, heavy 12 22,912 1072.00 1142.00 1092.43 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 11 5,042 573.00 590.00 578.04 ------------------------------------------------------------------------------- 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 7 6,669 596.00 640.00 615.59 112A 3 Rib, ribeye, bnls, light 5 18,818 670.00 721.83 691.96 112A 3 Rib, ribeye, bnls, heavy 10 24,054 689.00 716.00 700.51 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 3 17,169 218.26 231.00 229.53 114A 3 Chuck, shoulder clod, trmd 13 84,567 233.19 249.28 239.43 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 6 7,697 487.74 502.48 499.17 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 18 85,641 253.00 275.00 259.80 116B 1 Chuck, chuck tender (IM) 10 19,250 229.74 250.00 240.00

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 5 18,922 275.00 288.00 278.63 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 6 10,806 300.00 340.00 312.57 160 1 Round, bone-in 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 8 27,168 237.00 265.00 247.65 168 1 Round, top inside round 4 17,206 215.00 223.10 215.54 168 3 Round, top inside round 8 84,558 225.00 230.00 226.11 169 5 Round, top inside, denuded

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 4 24,914 204.00 228.00 209.61 171B 3 Round, outside round 7 18,481 219.00 244.00 228.11 171C 3 Round, eye of round (IM) 6 9,364 246.80 258.70 252.85 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 7 30,081 494.92 600.00 506.55 175 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 8 40,535 480.92 592.00 499.82 184 1 Loin, top butt, bnls, heavy 12 28,388 289.68 325.00 295.43 184 3 Loin, top butt, boneless 18 68,639 296.00 330.00 309.39 185A 4 Loin, bottom sirloin, flap 3 2,902 490.00 500.00 493.44 185B 1 Loin, ball-tip, bnls, heavy 5 27,707 264.38 305.70 270.10 185C 1 Loin, sirloin, tri-tip (IM) 0 0 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 11 42,878 1023.92 1048.00 1030.88 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 7 13,404 530.98 570.75 538.79 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 4 28,252 109.00 130.00 126.42 121D 4 Plate, Inside Skirt (IM) 13 25,769 400.00 425.00 408.48 121C 4 Plate, Outside Skirt (IM) 7 50,853 555.00 631.00 576.28 121E 6 Outside Skirt, pld (IM) 7 8,257 785.60 906.00 823.88

Cap, Wedge Meat & (IM) Lean 17 90,502 290.00 322.00 298.51

Pectoral Meat 17 61,403 288.00 318.00 292.70 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 9 106,883 182.12 209.00 195.12 Ground Beef 75% 0 0 Ground Beef 81% 8 64,194 197.00 229.28 208.36 Ground Beef 85% Ground Beef 90% Ground Beef 93% 3 6,432 285.98 314.42 288.06 Ground Beef Chuck 80% 3 76,055 219.10 275.50 255.41 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% 0 0 Blended Ground Beef 81% 17 91,240 205.03 240.90 217.25 Blended Ground Beef 85% 0 0 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 7 226,475 125.00 130.00 126.82 Frozen 50% lean trimmings -------------------------------------------------------------------------------- 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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