Chicago cattle futures rose on Tuesday, recouping losses from Monday’s screwworm scare. Lean hog futures also rose.
Most-active October live cattle contracts closed at 238.200 cents a pound, up 1.375 cents. December live cattle settled at 239.925 cents per pound, a gain of 1.875 cents.
Most-traded October feeder futures settled at 363.775 cents per pound, a gain of 3.025 cents. September feeder cattle contracts closed at 365.050 cents a pound, up 3.150 cents.
Choice boxed beef rose by $4.68 per cwt to $413.17, the USDA reported on Tuesday afternoon. Select boxed beef was valued at $390.76 per cwt, up $5.38.
Reuters reported on Monday that a human case of New World screwworm had been confirmed in the U.S., connected to a person who had travelled to El Salvador. Cattle futures fell after the announcement.
The affected person has recovered, and a USDA official told Reuters on Tuesday that the case posed no risk to agriculture.
Most-active October lean hog futures closed at 93.425 cents a pound, up 2.025 cents. December lean hogs settled at 85.925 cents a pound, up 1.175 cents.
Pork carcass cutout value was reported at $113.05 per cwt, down $1.12.
