Current Cattle Markets Daily Headlines for Friday, July 17, 2020

by | Jul 17, 2020 | 0 comments

Is the future of meat in America at stake?

https://abcnews.go.com/US/video/future-meat-america-stake-71810925?fbclid=IwAR2Hee_26NRFGxbg9PnWFvQgcrwrGMjdWcEZFXPDTw6uce17Mntv1WZ1j_k

  • Earlier this week, ABC’s Matt Gutman reported on ranchers struggling to make a living as they work to compete with cheap imported beef and alternative meat products.
  • According to ABC, changing consumer’s tastes and concerns regarding their carbon footprint is threatening the cattle industry.
  • During this feature, Gutman toured an Impossible Foods factory in Oakland, CA where soybeans are transformed into a fake meat alternative that he claimed tastes “identical to beef.”
  • The rise of alternative meat demand is partially because of the coronavirus pandemic and also the increased scrutiny of conditions inside slaughterhouses for workers and the animals, according to Pat Brown with Impossible Foods.
    • Meat alternative demand increased 248% in the first twelve weeks of this year.
  • According to Brown, if you replace one pound of cow beef with one pound of impossible beef, you reduce your greenhouse gas footprint by the equivalent of the average daily commute, 36 miles in a typical American car, or 92 miles flying in a passenger jet.
  • Some researchers are worried about how incredibly processed alternative meats are. Typically, ultra processed foods are worse for a person’s diet, versus whole foods such as beef.
  • Impossible Foods boasts that its carbon footprint is 89% less than that of a real beef burger.
  • According to Bill Bullard, ranchers have been stewards of the land and have cared for their land, air, and water for centuries.
  • Pat brown stated that he’s not after the ranchers, but instead the beef industrial complex. He wants to kill the meat industry the old fashioned way through fair competition in the free market.

 

Beyond Meat’s international push continues in Brazil

https://www.fool.com/investing/2020/07/15/beyond-meats-international-push-continues-in-brazi.aspx

  • Beyond Meat has expanded its international presence as it has broken into the Brazilian marketplace, the largest economy in South America.
  • Beyond Burgers, Beyond Sausage, and Beyond Beef is now available in Sao Paulo at a grocery chain called St. Marche.
    • Marche is a relatively small grocery chain with only 19 locations, however it is still a new market for the product.
  • Brazil is the third largest consumer of beef in the world and is the largest exporter of beef.
  • Beyond Meats CEO, Ethan Brown, claims the company is looking to pursue numerous activities internationally this year.
  • Earlier in 2020, Beyond Meat entered China via a partnership with Starbucks. The company was also able to expand into grocery stores and got on the menu at restaurants owned by Yum China Holdings.

 

Boxed beef prices

www.nationalbeefwire.com

  • Choice boxed beef: $200.80 (+0.04)
  • Select boxed beef: $191.30 (-0.07)
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