Negotiated cash fed cattle trade ranged from limited to mostly inactive on light demand through Friday afternoon, according to the Agricultural Marketing Service.
For the week, live prices were steady in the Texas Panhandle at $120/cwt., steady to $1 higher in Nebraska at $123-$124, unevenly steady in Colorado at $122 and $1 lower in the western Corn Belt at $122-$124. Dressed prices were $1 higher in Nebraska at $196; steady to $1 lower at $194-$196 in the western Corn Belt.
Cattle futures closed lower again Friday, although the pace of decline was less than in recent sessions. Besides feed costs and sluggish cash price progress, there’s also concern about the recently slower slaughter pace and the potential to back up some cattle.
Estimated total cattle slaughter the week ending April 16 was 640,000 head, according to USDA. That was 1,000 head fewer than the previous week. Estimated year-to-date total cattle slaughter of 9.64 million head, is 35,000 head fewer (-0.36%). Estimated year-to-date beef production of 8.06 billion lbs. is 74.9 million lbs. more (+0.94%) than the same time last year.
Live Cattle futures closed an average of 61¢ lower, except for 10¢ higher in the back contract.
Feeder Cattle futures closed an average 73¢ lower (30¢ to $1.00 lower).
Choice boxed beef cutout value was 57¢ lower on Friday at $276.05/cwt. Select was 67¢ higher at $269.10.
Corn futures closed 1¢ to 4¢ lower through the front three contracts, and then mostly fractionally higher to 1¢ lower.
Soybean futures closed 8¢ to 15¢ higher through the front four contracts, and then mostly 3¢ to 6¢ higher.
Major U.S. financial indices closed higher again Friday, supported by positive economic news and quarterly earnings reports from major banks that beat trader expectations.
The Dow Jones Industrial Average closed 164 points higher. The S&P 500 closed 15 points higher. The NASDAQ was up 13 points.
One in four plant-based substitutes for meats are neither high in protein nor a source of protein, according to a recent safefood research report that examined available meat substitutes in Ireland. Safefood’s role is to promote awareness and knowledge of food safety and nutrition on that island.
The safefood research looked at the nutritional content of 354 plant-based meat-substitute products on sale in supermarkets across Ireland. These products included plant-based alternatives such as mince, burgers and sausages, which are positioned in a category of foods that provide protein such as meat, poultry, eggs, fish, nuts and beans.
“However, one in four of the products we surveyed were not an adequate source of protein,” says Catherine Conlon, MB, Director of Human Health & Nutrition with safefood. “When we asked people about these products, a third of people thought they were healthy or better for them. However, many of these plant-based products are simply highly processed foods…”