Why stop there? Couldn't the mother be brain dead as well?
It's a dystopian idea - breeding zombie cows that aren't alive on a cognitive level - but you can draw parallels to abortions and pulling the plug on brain dead human patients. As a society we somewhat agree rationally that the lack of subjective experience or cognition renders most ethical concerns moot.
From an emotional/intuitive stand point it still grinds a few gears though. Would we be fine with growing brain dead humans for consumption?