U.S. Cattle Prices Drop as Mexico Border Reopens to Livestock

U.S. cattle futures fell on Monday as the Department of Agriculture began a phased reopening of the U.S.-Mexico border to cattle imports.

The border had been closed to Mexican cattle, mainly calves and feeder cattle, for more than a year because of concerns over the spread of the screwworm parasite.

CME October live cattle futures settled 4.325 cents lower at 213.60 cents per pound, while September feeder cattle fell 4.8 cents to 324.225 cents per pound.

The market was also affected by President Donald Trump’s announcement that the United States would temporarily ease beef tariffs.

USDA Secretary Brooke Rollins said two additional ports in New Mexico are expected to reopen, with one scheduled within 30 days and another within 60 days. She said Texas ports would not be reopened soon because of continued screwworm activity.

Mexico is increasing efforts to control the parasite in northern border states, where recent cases have been reported.

Some U.S. cattle groups and state officials have opposed the reopening, warning that livestock imports could increase the risk of screwworm spreading into the United States.

The USDA reported choice boxed beef at 385.69 dollars per hundredweight, unchanged from the previous day.

Wholesale pork carcass values rose to 99.93 dollars per hundredweight, while October lean hog futures gained 0.25 cents to 81.125 cents per pound.