CME cattle futures climb, led by firm cash markets (opens original article in a new tab)

CME cattle futures increased due to strong cash market prices and perceived underpricing, while hog futures declined. Mexico restricted U.S. live animal imports over screwworm concerns.

• CME cattle futures rose on expectations of steady cash cattle trades and underpricing relative to cash markets.
• Mexico halted most U.S. live animal imports following screwworm cases in Texas and New Mexico.
• CME hog futures fell, with pork carcass prices dropping $2.50 per hundredweight.
• Screwworm outbreaks were confirmed in six U.S. cases, though they do not affect beef supply or food safety.