Current Cattle Markets Daily Headlines for Wednesday, September 2, 2020

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Alternative meat startup is hoping this 3D-printed steak could upend the meat industry

https://www.businessinsider.com/3d-printed-steak-redefine-meat-alternative-meat-2020-8?fbclid=IwAR2vusYthMKpdb7Jgf45uav6kOeBCnyMMiCNkVpU44ODo9LhbNIs-nYa1m4

  • Redefine Meat, an Israeli alternative meat startup, is looking to break into the international faux meat market with whole-cut steaks.
  • According to Redefine Meat’s CEO, Eshchar Ben-Shitrit, the company wants to produce a product comparable, or even better than animal protein.
  • Ben-Shitrit says Redefine Meat is focused on creating industrial-level 3D printers that would eventually be sold to meat distributors around the world.
  • “The idea is to replace a cow. So each of our machines produce in a day exactly like a cow, up to 250 kilograms in a single day,” he stated.
  • The CEO feels that faux meat is the best way to fight climate change, to deliver healthier solutions and food to the entire world.
  • The company plans to keep the cost of 3D-printed steaks comparable to real steak, somewhere between $5 to $12 per pound.
    • The steaks will be unveiled at high-end restaurants in Israel, Switzerland, and Germany by the end of 2020.
  • Redefine Meat’s recipe contains soy and pea proteins, coconut fat and sunflower oil, among various other ingredients.
    • The full list of ingredients is a secret, but the company claims all ingredients are plant-based and vegan.
  • Venture capital money has been rolling in and the global faux meat market is projected to reach a value of $8.1 billion by 2026, according to Allied Market Research.

 

Ft. Pierre butcher plant still awaits USDA inspection

https://www.tsln.com/news/us-beef-producers/

  • Kim Ulmer recently purchased the old Bad River pack building in Ft. Pierre, and it is now known as US Beef producers.
  • Before purchasing the facility, Ulmer was told by the USDA that he would receive his grant of inspection within 90 days of application. Since then, he has had his HACCP (hazard analysis and critical control points) plan rejected numerous times, even after he hired certified consultants to help him.
  • Ulmer and 13 others invested half a million dollars in their plant and were planning to invest more to remodel space in order to open a retail store.
  • Cattle were scheduled and a grand opening was planned for the 4th of July, but everything had to be cancelled.
  • The group had to fight to get “not for sale/custom kill” certified and have been busy with custom processing. However, Ulmer worries that there isn’t enough business in the area to support the plant once the pandemic panic passes.
  • “Some people are living the dream; right now I’m living the nightmare of government regulations,” said Ulmer. He went on to say that he feels like the government doesn’t want them to be in business.
  • Fourteen individuals bought a plant, based on the USDA saying they would give them inspection. It’s been six months since the purchase, and the business is no closer to inspection than they were in March.

 

The September decision

https://www.beefboard.org/2020/08/31/the-september-decision/#:~:text=Twenty%20cattlemen%20and%20women%20%E2%80%93%20representing,programs%20within%20the%20Beef%20Checkoff.

  • On September 9th and 10th, twenty cattlemen and women will gather in Denver, CO to discuss, debate and essentially allocate $40 million for eligible beef industry programs within the Beef Checkoff.
  • This group of individuals is known as the Beef Promotion Operating Committee and they represent cow/calf, feeders, stockers, dairy, and importers.
    • Sixteen different states are represented within this group.
  • Being a part of the Operating Committee takes a strong individual, as they must decide how millions of producer’s dollars are spent between promotion, research and education projects.
  • Members of the Operating Committee pay Checkoff dollars themselves so they strive to make decisions that are best for fellow cattle families, and the entire beef industry.

 

Boxed beef prices

www.nationalbeefwire.com

  • Choice boxed beef: $228.34 (+0.39)
  • Select boxed beef: $214.75 (-0.57)

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  1. Current Cattle Markets Daily Headlines for Thursday, September 3, 2020 | Fair Cattle Markets - […] Current Cattle Markets Daily Headlines for Wednesday, September 2, 2020 […]

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