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Barchart
Barchart
Jim Wyckoff

New World Screwworm Case in Texas Rattles Cattle Markets. If Cattle Prices Collapse Further, It May Be the Media’s Fault.

NWS Texas Brooke Rollins United States USDA

August live cattle (LEQ26) on Thursday rose $3.675 to $241.525 after hitting a nine-week low early on. August feeder cattle (GFQ26) rallied $10.75 to $353.375 after hitting a 5.5-month low early in the session. The cattle futures markets Thursday saw big and technically bullish “outside days” up on their daily bar charts. Cattle traders on that day decided to “buy the fact” on news of a case of New World screwworm (NWS) detected in Texas. On Wednesday cattle traders “sold the rumor” of the parasite spreading north.

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