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Barchart
Austin Schroeder

Cattle Face Wednesday Weakness, as Possible Screwworm Case Emerges

Live Cattle Fed Cattle Exchange Feeder Cattle USDA

Live cattle futures ended the Wednesday session with contracts down $1.05 to $2.42 on the day. Cash trade started this week at $255, creeping up to $256 on Wednesday afternoon. The Wednesday Fed Cattle Exchange showed sales of $257 on 70 of the 1,256 head offered, with other bids of $250-254. Feeder cattle futures fell $4.65 to $5.85 across most contracts on Wednesday. The CME Feeder Cattle Index was down another 12 cents on June 1 to $364.14.

On Wednesday afternoon, the USDA released an update on the New World Screwworm this afternoon stating “a case may have been detected in South Texas,” and that the sample was at the National Vet Service Lab in Ames, IA for testing.

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