Cattle futures on the Chicago Mercantile Exchange were mixed on Thursday, with fresh contract highs in the feeder cattle market while live cattle ran into resistance at their own highs to settle with small losses.
The United States blocked cattle imports from Mexico once again as New World screwworm moved closer to the border between the two countries. The U.S. had lifted an earlier ban just a few days ago.
Mounting trade tensions between the U.S. and Brazil also supported the cattle market, although chart-based positioning kept any gains in check.
August feeder cattle futures were up by 0.800 cents per pound at 321.275 cents per pound.
The August live cattle contract lost 0.550 cents per pound at 219.225 cents at the close.
The U.S. Department of Agriculture reported wholesale boxed beef prices were lower on Thursday, with choice boxes down $1.79 at $384.66 per hundredweight and select boxes down $2.41 at $370.86.
Lean hog prices were down one cent per pound in the August contract at 106.225 cents.
