Boxed beef

The daily cutout, primal values and the Choice–Select spread · USDA AMS · Tue, Nov 3

Choice cutout

$365.23

+0.19+0.1%

USDA · PM close · DailyNov 3

Select cutout

$358.37

+3.43+1.0%

USDA · PM close · DailyNov 3

Choice–Select spread

+$6.86

−3.24

USDA · PM close · DailyNov 3

Loads traded

140.3

+59.3+73.4%

USDA · PM close · DailyNov 3

Choice and Select cutout

PublishedWeekly · since 2004 · through Nov 2

$/cwt of carcass, afternoon close averaged to the week. This is the ceiling every cattle price is paid out of: the packer buys cattle and sells boxes, and the cutout is what the boxes brought.

ChoiceSelect

The gap between the lines — what a Choice carcass earns over Select, week by week.

Choice − Select

Choice is above Select by $39.88 on the rib and $28.28 on the loin, but on the chuck, round, plate and flank Select is the higher-priced of the two.

Where the lines converge, grading stopped paying; where they part, Choice cattle were worth chasing. A thin day moves the cutout more than the market really moved — read the loads alongside the price.

Primal values

PublishedNov 3

$/cwt, 600–900 lb carcasses, front to back.

Primal	Choice	Select	Ch − Se
Rib	679.67	639.79	+39.88
Loin	443.72	415.44	+28.28
Chuck	318.48	328.58	−10.10
Round	291.77	295.24	−3.47
Brisket	265.83	263.40	+2.43
Plate	222.46	222.46	+0.00
Flank	149.41	150.76	−1.35

The past year, Choice, weekly — which part of the carcass is pulling the cutout.

RibLoinChuckRoundBrisketPlateFlank

A zero spread means USDA published the same figure for both grades that day, not that the grades traded level. Plate and short plate are one cut under two names USDA has used at different times. The rib and loin carry the grade premium; the chuck and round carry the pounds.

Daily loads

PublishedDaily · Nov 3

LoadsYear ago

40,000-lb load equivalents, all grades and trim. The dashed line is the same weekday a year earlier. A thin day is a thin quote.

Loads by type Derived

Nov 3

The day's loads by what was in the box.

Choice cutsSets the Choice cutout	104.3	74.4%
Select cutsSets the Select cutout	9.1	6.5%
TrimmingsGround beef raw material	12.9	9.2%
Coarse grindsChuck and round grinds	14.0	10.0%
All loads	140.3	100%

Choice loads per Select load11.5×

USDA's reported loads; the shares are ours. The cutout is computed from the Choice and Select cuts only — trim and grinds trade alongside but do not enter it.

Individual cuts

PublishedBy volume · Nov 3

The cuts moving the most pounds today, Choice against Select. USDA reports 42 items in each grade; these are the twelve largest by weight traded.

Cut	Choice	Select	Spread	Pounds	Trades
Brisket, deckle-off, bnls (120 1)	$376.01	$372.70	+3.31	744,977	54
Chuck, roll, lxl, neck/off (116A 3)	$552.68	$559.18	−6.50	719,854	61
Rib, ribeye, lip-on, bn-in (109E 1)	$1,395.71	$1,305.10	+90.61	420,200	29
Loin, short loin, 0x1 (174 3)	$759.42	$766.44	−7.02	289,189	22
Flank, flank steak (193 4)	$577.58	$585.42	−7.84	230,559	35
Chuck, shoulder clod, trmd (114A 3)	$424.25	—	—	220,126	35
Round, outside round (171B 3)	$367.76	$380.07	−12.31	215,923	38
Round, top inside round (168 3)	$367.30	$358.08	+9.22	178,546	39
Round, eye of round (171C 3)	$390.06	$416.58	−26.52	167,248	39
Loin, top butt, boneless (184 3)	$492.82	$463.43	+29.39	163,142	22
Loin, top butt, CC (184B 3)	$653.02	—	—	157,919	16
Loin, strip, bnls, 0x1 (180 3)	$870.77	$766.95	+103.82	109,002	41

Pounds and trades are both grades combined. A cut with only a handful of trades is a thin quote and can jump on one load. The full 84-line ladder — all 42 items in both grades, with history — is a Pro tool.

Boxed beef

Choice and Select cutout

Primal values

Daily loads

Loads by type Derived

Individual cuts

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