Negotiated cash fed cattle prices were steady in the Southern Plains through Thursday afternoon at $108/cwt., according to the Agricultural Marketing Service, but there were too few transactions for a market trend.
There were also some live trades in Nebraska at $105, steady with the previous day but $1-$2 lower than the previous week. Dressed trades there on Wednesday were $3 lower at $165.
So far this week live trades are steady to $1 lower in the western Corn Belt at $105 on a lived basis and $3 lower in the beef at $165.
Cattle futures closed higher Thursday, supported by early signs that wholesale beef prices may be at or near the seasonal ebb. Firmness could also stem from expectations that Friday’s monthly Cattle on Feed report will be market friendly, with significantly lower year-over-year placements in November.
Live Cattle futures closed an average of 50¢ higher.
Feeder Cattle futures closed an average of 82¢ higher from 12¢ higher in spot Jan to $1.22 higher.
Corn futures closed 3¢ to 5¢ higher through Sep ‘21 and then mostly 1¢ higher.
Soybean futures closed 14¢ to 17¢ higher through Aug ’21 and then mostly 7¢ to 9¢ higher.
Major U.S. financial indices closed higher Thursday, buoyed by increasing optimism for more federal economic stimulus, as well as a second COVID-19 vaccine receiving a key nod off approval from FDA.
The Dow Jones Industrial Average closed 148 points higher. The S&P 500 closed 21 points higher. The NASDAQ was up 106 points.
This week, the U.S. Food and Drug Administration (FDA) approved the first intentional genomic alteration (IGA) in an animal for both human food consumption and as a source for potential therapeutic uses. It’s for a line of domestic pigs referred to as GalSafe pigs. The IGA is intended to eliminate alpha-gal sugar on the surface of the pigs’ cells. People with Alpha-gal syndrome (AGS) may have mild to severe allergic reactions to alpha-gal sugar found in red meat (e.g., beef, pork, and lamb).
“Today’s first ever approval of an animal biotechnology product for both food and as a potential source for biomedical use represents a tremendous milestone for scientific innovation,” says FDA Commissioner Stephen M. Hahn, M.D. “As part of our public health mission, the FDA strongly supports advancing innovative animal biotechnology products that are safe for animals, safe for people, and achieve their intended results. Today’s action underscores the success of the FDA in modernizing our scientific processes to optimize a risk-based approach that advances cutting-edge innovations in which consumers can have confidence.”
As part of its review, the FDA evaluated the safety of the IGA for the animals and people eating meat from them, as well as the product developer’s intention to market the IGA for its ability to eliminate alpha-gal sugar on pigs’ cells. The FDA determined that food from GalSafe pigs is safe for the general population to eat. The FDA’s review also focused on ensuring the effectiveness of the IGA through the evaluation of data demonstrating that there is no detectable level of alpha-gal sugar across multiple generations of GalSafe pigs.
Potentially, GalSafe pigs may provide a source of porcine-based materials to produce human medical products that are free of detectable alpha-gal sugar, according to FDA. For example, GalSafe pigs could potentially be used as a source of medical products, such as the blood-thinning drug heparin, free of detectable alpha-gal sugar. Tissues and organs from GalSafe pigs could potentially address the issue of immune rejection in patients receiving xenotransplants, as alpha-gal sugar is believed to be a cause of rejection in patients.