Live cattle futures are in rally mode on Thursday, with bulls active across most contracts, up $2.80 to $5.02 Cash trade started this week at $255, with more action at $256 later in the week. The Thursday Fed Cattle Exchange showed sales of $256.50 on 284 of the 1,116 head offered and another $405-$405.50 dressed sales on another 80 head. Feeder cattle futures are buying the fact following the screwworm confirmation late on Wednesday, with contracts up $10.50 to $10.75 at midday hitting the $10.75 limit up during the session in several contracts. The CME Feeder Cattle Index was down another 12 cents on June 1 to $364.14.
Late on Wednesday evening, the USDA confirmed a case of the New World Screwworm in South Texas after testing a suspected case in a 3-week old calf in Zavala county. It’s important to remember there should be no food safety concerns associated with the screwworm.
