Live cattle futures posted $1.70 to $2.80 losses across most front months. Open interest suggested longs exiting, down 2,268 contracts Cash trade has been quiet this week, with a few bids of $260. Last week settled in at $256-260, with southern action $256-258 and northern trade at $258-260. Feeder cattle futures closed Tuesday with contracts down $2.50 to $7.30 on the session. The CME Feeder Cattle Index was back down $1.48 to $374.37 on May 11.
The Tuesday APHIS update on the New World Screwworm showed a total of 1,701 active cases of in Mexico as of Monday. There were 139 active cases in the bordering state of Tamaulipas (7 within a range of 96-97 miles of the US border), 51 active in Nuevo Leon (14 within a range of 79-99 miles of the US border), and 15 in Coahuila.
