Pork futures hold steady amid strong retail demand - CME

Chicago Mercantile Exchange (CME) cattle futures fell on Monday as renewed concerns over the spread of New World screwworm pulled cattle futures off contract highs set during the previous week, reported Reuters. 

The US Department of Health and Human Services (HHS) on Sunday reported the first human case in the United States of travel-associated New World screwworm, a flesh-eating parasite, from an outbreak-affected country.

The case, investigated by the Maryland Department of Health and the US Centers for Disease Control and Prevention, was confirmed by the CDC as New World screwworm on August 4, and involved a patient who returned from travel to El Salvador, HHS spokesman Andrew G. Nixon said in an email to Reuters.

The news prompted a wave of profit-taking, analysts said.

CME October live cattle futures fell 1.05 cents to settle at 236.825 cents per pound. September feeder cattle fell 0.775 cent to settle at 361.9 cents per pound.

A historically low supply of cattle, which has been further constrained by the closure of the US-Mexico border to feeder cattle imports due to the spread of screwworm, fuelled a rally in cattle futures the previous week.