Negotiated cash fed cattle trade was slow with moderate demand in the Southern Plains through Thursday afternoon. Based on USDA reports, live prices were steady with the previous day at $122/cwt., which was $2 less than last week.
Cattle futures finally firmed on Thursday after taking their lumps for the previous five sessions, and in the face of another limit and near limit-down day for Lean Hogs.
Except for 2¢ lower in near Apr, Live Cattle futures close an average of 29¢ higher (2¢ to 62¢ higher).
Except for unchanged in the back contract, Feeder Cattle futures closed an average of 25¢ higher (5¢ to 67¢ higher).
Wholesale beef values were steady to weak on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 17¢ lower Thursday afternoon at $213.35/cwt. Select was 45¢ lower at $211.48.
Corn futures closed 4¢ to 5¢ lower through Jly ’21 and then mostly 1¢ lower.
Soybean futures closed 12¢ to 16¢ lower through Jan ’21 and then 5¢ to 10¢ lower.
Major U.S. financial indices closed higher Thursday, after being sharply lower for most of the session. Various chatter assigned the late-day turnaround to comments from the World Health Organization (WHO), which declared novel coronavirus a public health emergency of international concern (PHEIC) but made no recommendation for travel restrictions to China.
According to a statement from WHO’s Emergency Committee: “The Committee believes that it is still possible to interrupt virus spread, provided that countries put in place strong measures to detect disease early, isolate and treat cases, trace contacts, and promote social distancing measures commensurate with the risk…”
The Dow Jones Industrial Average closed 124 points higher. The S&P 500 closed 10 points higher. The NASDAQ was up 23 points.
“Despite the perceived ‘health halo,’ synthetic meats are a long way off from being a magical mixture of vegetables. If you’re looking for a healthy snack, you can do better than these industrial food-like substances,” says Will Coggin, managing director of the nonprofit Center for Consumer Freedom (CCF).
Unbeknownst to many consumers, the folks at CCF point out plant-based meats are ultra-processed foods, which the National Institute of Health says may cause overeating and weight gain. According to the NOVA food classification system, ultra-processed foods are created by a series of industrial techniques and processes. Ingredients in synthetic meats include methylcellulose, which is commonly used in laxatives and lubricant, titanium dioxide, often used in paint, and propylene glycol, used in antifreeze.
That’s the gist of an ad CCF will air during this weekend’s Super Bowl. It features a spelling bee, where children are asked to spell some of the chemical ingredients in synthetic meats. You can see it here.
“In addition to ads CCF has run, the campaign has also been featured in articles by The New York Times, The Washington Post, and The Wall Street Journal,” Coggin says. You can see previous ads in the campaign here.