Chicago | Reuters – Chicago Mercantile Exchange cattle futures traded both sides of unchanged on Wednesday as mixed-to-weaker cash markets and a continued tight supply of cattle buffeted futures, analysts said.
Industry experts said the U.S.-Mexico border is likely to be closed to cattle imports for the foreseeable future as the flesh-eating screwworm parasite spreads.
Mexico saw a nearly 32 per cent increase in confirmed screwworm cases, according to the latest monthly government data, as a concentration of cases moves north.
Read Also
Pulse Weekly: SaskPulse optimistic despite input, crop price concerns
SaskPulse executive director Carl Potts is optimistic ahead of the planting season despite lower crop prices and the war in Iran.
On Tuesday, the U.S. Food and Drug Administration announced it had approved Dectomax-CA1, an injectible anti-parasitic medication, to prevent and treat screwworm in cattle.
CME December live cattle LCZ25 fell 0.275 cent to end at 234.50 cents per pound. CME November feeder cattle FCX25 rose 5.475 cents to end at 359.35 cents per pound.
CME December hogs LHZ25 closed 1.90 cents lower at 86.90 cents per pound.
Wholesale beef prices have mostly continued a seasonal decline. The U.S. Department of Agriculture reported choice cuts of beef fell by 37 cents to $370.66 per hundredweight as of Wednesday morning. Select cuts rose by $2.46 to end at $349.71.
Commodity markets may be left without further USDA data in the coming days after a U.S. government shutdown started on Wednesday, amid political deadlock over short-term funding measures.
