Current Cattle Markets Daily Headlines for Monday July 20, 2020

Large backlog of cattle remain

https://www.drovers.com/article/large-backlog-cattle-remain

• According to Len Steiner with Steiner Consulting Group, the number of cattle on feed 150-days or more on July 1^st will be about 950,000 head.
  • If this number is accurate, that means the industry has only reduced the 150-day cattle by 30,000 head from June 1^st.
• The Cattle on Feed report comes out this Friday, and if Steiner’s 950,000 head estimate is correct, it would be a 40% increase over the same month a year ago.
• Last month’s Cattle on Feed report put the number of cattle with 150-days or more on feed at 971,000 head, a number that was 42% higher than the same month in 2019.
• Steiner estimates June slaughter to be up 0.8 percent but July slaughter will be down 0.5 percent due to one fewer slaughter days.
• Earlier this month, the USDA reported the average carcass weight 35 lbs. heavier than a year ago. This is equivalent to 21,000 more fed cattle coming to market this year compared to last.
• The average retail beef price in June was estimated at $7.56/lb., slightly less than May but still 23% higher than year ago prices.

 

Meat-eating boosts muscle health better than plant-based diet as we age, new study suggests

https://www.dailymail.co.uk/news/article-8516093/Meat-eating-boosts-muscle-health-better-plant-based-diet-age-new-study-suggests.html?fbclid=IwAR3sy9_r-3eHXzODtrg8MsK7yJwSvk0w4PfEPX6lxpBIOfOsCM3EdGz7I1s

• A new study coming out of the United Kingdom has show that plant-based proteins will not boost muscle health as much as eating meat as we get older.
• The number of vegans in the UK has tripled since 2006. Many have went vegan for health purposes, animal welfare or environmental reasons.
• The study found that transitioning from an animal-based protein diet to a plant-based diet is likely to be detrimental to muscle health as we age.
  • Muscles must be kept strong by amino acids that can be found in animal proteins.

 

Boxed beef prices and market update

www.nationalbeefwire.com

• Choice boxed beef: $ 200.47 (-0.33)
• Select boxed beef: $190.31 (-0.99)
• For the first time this year, over 50 percent of the country is in some kind of drought designation. This hasn’t occurred since the week ending September 18^th, 2018 when the country was coming off a historical drought.
• Weekly cattle slaughter was reported at 650,000 hd., down 1.1 percent from the previous week and down 0.8 percent from last year.
• Weekly live cattle weights were reported at 1,366 lbs., up 36 lbs. from last year.