Lean hog futures slide sharply to end the week - CME
Feeder cattle futures hit two-week high on screwworm fears
8 June 2026
1 minute read
By: Chicago Mercantile Exchange (CME) feeder cattle futures climbed to a two-week high on Friday on worries about tight supplies after the US Department of Agriculture confirmed the first US case of the flesh-eating screwworm parasite in Texas, reported Reuters.
The finding raised speculation that Mexican cattle imports would remain suspended, depriving feedlots in the United States of animals needed to fatten for processing into beef.
Feeder cattle futures, however, settled well below session highs as technical selling and profit taking developed ahead of the weekend amid market anxiety about any potential further cases and responses by the US government and beef consumers.
"We're curious to see what actually happens. Is it going to continue to spread? Is this something where we keep the border closed even though it's here now?" said Ted Seifried, chief market strategist at Zaner Group.
"The biggest thing is what is the public's response to something like this from a demand perspective," he said.
Beef demand has remained resilient despite historically high prices, but it remains unclear if consumer behavior would change if cases of screwworm within US borders increase.
Weaker feed corn prices have further supported feeder cattle as Chicago Board of Trade July corn CN26 fell for a sixth straight session on Friday to the lowest level for a most-active contract since October. Corn was down 6.5% this week.
CME August feeder cattle settled 0.525 cent higher at 353.900 cents per pound. The benchmark contract reached its highest point since May 21, but hit overhead technical chart resistance at its 100-day moving average.
August live cattle futures rose 0.125 cent to 241.650 cents per pound.
CME lean hog futures fell sharply to close out the week but remained above midweek lows. The July contract ended the day down 2.800 cents at 98.800 cents per pound.
