U.S. live cattle futures touch one-month low
- S. live cattle futures dropped to their lowest price in more than a month on Friday hinging on expectations of increased meat production.
- Beef processing plants are almost back to normal slaughter levels. On Friday, USDA estimated that meat processors slaughtered 582,000 cattle, up from 573,000 cattle over the same period the week before. A year ago, slaughter levels were at 606,000.
- On Friday, August live cattle dropped to $95.325, its lowest price since May 6th.
Cows being use to produce COVID vaccine
- The U.S. continues to struggle with the spread of Covid-19 and scientists continue to search for a cure.
- A biotechnology company in South Dakota is using cows to produce human antibodies to fight SARS-CoV-2. Clinical trials using the antibodies will begin this summer.
- SAb Biotherapeutics developed the approach to produce antibodies 20 years ago.
- The company alters dairy cows so that certain immune cells carry the DNA that allows people to make antibodies. This change allows animals to manufacture large quantities of human antibodies against a pathogen protein injected into them.
- Since cows have a significant amount of blood, they are a good choice for producing antibodies. Their blood can also contain twice as many antibodies per milliliter as human blood, said Eddie Sullivan, SAb Biotherapeutic’s president and CEO.
Boxed beef prices
- Choice boxed beef: $230.64 (-4.92)
- Select boxed beef: $219.27 (-0.61)