Cattle futures on the Chicago Mercantile Exchange were stronger on Friday, finding some support from fresh details on the U.S. Department of Agriculture’s plans to deal with new world screwworm.
The U.S. border remains closed to Mexican cattle to keep screwworm from spreading north, keeping cattle supplies tight. The latest USDA plans include a US$750 million investment in a Texas facility to produce sterile flies.
September feeder cattle futures were up by 6.325 cents per pound at 347.355 cents per pound.
The October live cattle contract gained 3.825 cents per pound at 230.655 cents at the close.
The U.S. Department of Agriculture reported wholesale boxed beef prices were up sharply on the day, with choice boxes up $6.78 at $400.57 per hundredweight and select boxes up $3.88 at $370.76.
Lean hog prices were up 0.975 cents per pound in the October contract at 90.100 cents.
