U.S. livestock: Cattle fall on unconfirmed screwworm report

Chicago cattle futures fell on Tuesday as an unconfirmed report of a case of New World screwworm led to a sell-off.

A Missouri radio station reported a case of the parasite however later scrubbed the story from its web site. RFD-TV on its web site posted a press release from the USDA calling the report “not true.”

Markets rebounded because the day went on.

Most energetic August reside cattle settled down 1.150 cents at 209.300 cents per pound. They’d bottomed out at 206.375 cents earlier within the day. June reside cattle closed at 215.125 cents a pound, down 0.675 cents.

U.S. grains: Wheat falls on rain in growing regions

Chicago wheat fell for a third straight session on Tuesday, as rain in growing areas of the U.S. Plains improved moisture for the crop, reinforcing expectations of a well-supplied market, according to analysts.

Most energetic August feeder cattle contracts settled at 298.150 cents a pound, a lack of 2.225 cents. Earlier within the day it hit a low of 293.050 cents.

Selection boxed beef inched up $0.30 to settle at $361.85 per cwt, the USDA stated in its afternoon report. Choose beef misplaced $0.49 to shut at $350.83 per cwt.

Hog futures, in the meantime, noticed modest features. Most energetic July lean hogs settled at 102.150 cents a pound, up 0.600 cents. August lean hogs gained 0.900 cents to shut at 102.175 cents a pound.

The USDA put pork carcass cutout worth at $103.73 per cwt, up $2.27.

—Costs reported in U.S. {dollars}