U.S. livestock: Cattle rally after screwworm scare

Chicago cattle made modest beneficial properties on Tuesday whereas lean hogs ended blended to begin a shortened buying and selling week.

Most-active April dwell cattle closed at 234.575 cents a pound, up 0.600 cents. February dwell cattle settled at 232.375 cents per pound, up 0.225 cents.

Most-traded March feeder cattle contracts gained 1.225 cents to shut at 357.675 cents a pound. April feeders settled at 356.450 cents a pound, up 1.550 cents.

Alternative boxed beef was valued at $364.76 per cwt, up $0.43. Choose beef ended the afternoon at $359.84 per cwt, down $0.49.

Cattle futures recouped a few of Friday’s losses.

“Cattle futures merchants on Friday have been spooked by reviews of a further case of New World Screwworm (NWS) in Mexico — seemingly nervous in regards to the northward motion of NWS and its potential impression on shopper demand for beef,” wrote analyst Jim Wyckoff.

Texas’s agriculture commissioner Sid Miller warned livestock producers that they need to be checking livestock on daily basis as one of many confirmed instances was 215 miles (346 km) from the U.S. border.

Most-active April lean hog contracts closed at 95.175 cents a pound, down 0.025 cents. February contracts misplaced 0.425 cents to settle at 87.850 cents. Could and June futures made small beneficial properties.

The USDA reported pork carcass cutout worth at $93.47 per cwt, down $0.73.

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