The health "risks" of red meat have been really overblown, see this meta-review (there are also two others by the same others, looking at slightly different questions): https://www.gwern.net/docs/longevity/2019-zeraatkar.pdf
I know that in my country (Belgium), cattle is often fed the excess and/or unused part of some local productions (beetroot, hay from the farm ...). So that actually sounds useful to prevent waste.