USDA Boxed Beef Cutout Midday Prices for November 4

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: 250.08 239.40 Change from prior day: (0.65) 0.00 ------------------------------------------------------------------------------- Choice/Select spread: 10.68

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

Primal Rib 359.00 318.85

Primal Chuck 225.90 227.09

Primal Round 231.67 225.29

Primal Loin 300.32 276.96

Primal Brisket 204.40 203.16

Primal Short Plate 174.36 174.36

Primal Flank 121.95 122.32 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 11/03 50 41 9 25 125 250.73 239.40 10/31 56 29 44 21 150 251.20 238.63 10/30 62 39 38 15 153 253.35 239.41 10/29 83 56 18 31 188 253.63 239.77 10/28 43 36 29 28 137 251.56 239.10 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 252.09 239.26 -------------------------------------------------------------------------------- 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 39.20 loads 1,568,068 pounds

Select Cuts 33.12 loads 1,324,722 pounds

Trimmings 26.68 loads 1,067,087 pounds

Ground Beef 12.31 load 492,333 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 5 4,433 702.85 766.00 728.27 112A 3 Rib, ribeye, bnls, light 12 146,246 734.00 801.75 738.31 112A 3 Rib, ribeye, bnls, heavy 16 72,108 690.48 791.28 722.01 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 5 6,529 291.50 311.25 301.95 114A 3 Chuck, shoulder clod, trmd 23 245,755 290.00 332.00 297.07 114D 3 Chuck, clod, top blade 3 5,358 365.00 376.42 365.29 114E 3 Chuck, clod, arm roast 8 54,870 390.09 432.00 399.80 114F 5 Chuck, clod tender (IM) 5 4,453 376.25 405.50 384.84 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 20 164,218 325.45 361.00 330.01 116B 1 Chuck, chuck tender (IM) 11 34,602 320.00 338.00 332.64

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 15 65,324 309.00 332.00 310.59 120A 3 Brisket, point/off, bnls 3 3,194 525.00 565.00 532.52 123A 3 Short Plate, short rib 11 14,780 517.00 586.00 564.59 130 4 Chuck, short rib 7 8,148 340.00 390.00 351.07 160 1 Round, bone-in 5 4,062 270.14 298.00 288.15 161 1 Round, boneless

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 12 26,563 311.50 345.00 324.77 168 1 Round, top inside round 8 32,305 279.00 303.28 284.34 168 3 Round, top inside round 7 53,562 288.98 310.00 290.52 169 5 Round, top inside, denuded 6 3,699 346.66 360.00 350.61

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 171B 3 Round, outside round 25 312,426 280.00 322.00 289.49 171C 3 Round, eye of round (IM) 10 26,709 336.00 375.00 356.79 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 12 51,933 529.00 564.42 531.98 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 6 9,204 468.00 511.25 483.96 180 3 Loin, strip, bnls, 0x1 19 50,310 515.00 558.00 525.88 184 1 Loin, top butt, bnls, heavy 4 2,421 335.00 362.28 349.75 184 3 Loin, top butt, boneless 11 15,354 353.00 385.00 365.61 185A 4 Loin, bottom sirloin, flap 6 11,255 415.00 435.00 428.56 185B 1 Loin, ball-tip, bnls, heavy 6 25,825 320.00 335.00 327.40 185C 1 Loin, sirloin, tri-tip (IM) 4 1,000 356.00 384.00 376.71 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 8 16,685 1197.00 1384.25 1309.19 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 3 3,350 438.00 443.00 441.64 ------------------------------------------------------------------------------- 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 9 184,894 521.00 600.94 570.45 112A 3 Rib, ribeye, bnls, light 4 5,091 596.00 665.00 643.35 112A 3 Rib, ribeye, bnls, heavy 12 35,225 570.15 665.00 587.50 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 4 52,246 295.00 300.74 296.47 114A 3 Chuck, shoulder clod, trmd 7 41,819 295.00 322.83 298.78 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 0 0 114F 5 Chuck, clod tender (IM) 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 16 102,316 310.08 355.00 325.25 116B 1 Chuck, chuck tender (IM) 4 6,336 330.00 338.00 331.35

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 10 123,528 304.98 326.00 309.95 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 130 4 Chuck, short rib 6 25,310 330.00 345.50 335.45 160 1 Round, bone-in 0 0 161 1 Round, boneless

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 6 8,517 311.50 340.48 316.14 168 1 Round, top inside round 5 13,744 272.00 295.48 275.79 168 3 Round, top inside round 3 19,836 280.27 299.00 290.88 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 16 255,762 279.67 322.00 281.18 171C 3 Round, eye of round (IM) 9 35,572 343.95 375.00 352.87 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 23,780 429.69 490.00 442.06 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 0 0 180 3 Loin, strip, bnls, 0x1 9 24,118 417.61 480.00 428.06 184 1 Loin, top butt, bnls, heavy 7 103,575 298.00 311.00 301.14 184 3 Loin, top butt, boneless 11 27,000 304.00 357.28 323.95 185A 4 Loin, bottom sirloin, flap 7 18,619 386.91 465.00 399.79 185B 1 Loin, ball-tip, bnls, heavy 4 11,045 315.00 320.00 317.66 185C 1 Loin, sirloin, tri-tip (IM) 3 7,589 337.83 350.00 340.69 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 9 13,747 1110.00 1216.00 1151.83 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) 9 16,169 365.00 420.00 395.79 121C 4 Plate, Outside Skirt (IM) 6 5,246 528.50 626.50 559.02 121E 6 Outside Skirt, pld (IM) 4 7,865 795.00 845.00 801.32

Cap, Wedge Meat & (IM) Lean 14 50,299 350.00 382.28 365.07

Pectoral Meat 16 23,511 354.00 403.00 384.07 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 6 125,303 228.00 250.00 236.37 Ground Beef 75% Ground Beef 81% 8 76,113 265.00 284.28 268.54 Ground Beef 85% 0 0 Ground Beef 90% Ground Beef 93% Ground Beef Chuck 80% 3 53,734 279.60 289.00 280.76 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% 6 69,920 270.15 296.05 274.12 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 32 1,067,087 116.00 119.92 116.97 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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