Chicago cattle futures ended Tuesday mostly up, with feeder contracts setting fresh highs. Hogs were mixed.
Most-active October live cattle contracts hovered just below highs at 231.350 cents a pound, up 0.175 cents. December live cattle lost 0.025 cents per pound to settle at 233.250 cents.
Most-traded September feeder contracts closed at 352.425 cents a pound, up 1.500 cents. October feeders settled at 352.300 cents per pound, up 2.050 cents. Both were contract highs.
Choice boxed beef was valued at $407.20 per cwt in the USDA’s afternoon report—up $2.96 from Monday. Select boxed beef closed at $379.76 per cwt, up $2.62.
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Most-active October lean hog futures closed at 90.150 cents a pound, up 0.025 cents. December lean hogs settled at 82.975 cents, down 0.475 cents per pound.
The USDA reported pork carcass cutout value at $112.41 per cwt on Tuesday afternoon, down $3.95 from Monday.
On Tuesday, USDA officials announced they’d given the U.S. Food and Drug Administration (FDA) power to quickly authorize veterinarians and farmers to treat or prevent infestations of New World screwworm with animal drugs approved for other purposes or available in other countries.
No cases of the flesh-eating parasite have been confirmed in the U.S., however a case in Mexico about 370 miles from the border prompted the USDA to close the border to Mexican cattle.
The USDA said on Friday it would spend up to $750 million to build a facility in Texas that produces sterile flies. Agriculture Secretary Brooke Rollins did not say when the plant would open but previously said such a facility would take two to three years to build.
