CME cattle futures climb as USDA lifts Mexican cattle import ban

Live cattle futures on the Chicago Mercantile Exchange rose 2.2 cents to $2.34 per pound, while feeder cattle futures gained 2.1 cents to $3.53 per pound, reflecting traders' focus on tight animal supply. The market reaction follows the USDA's decision to lift a ban on imports of Mexican cattle that had been imposed to contain the New World screwworm pest.

Independent trader Dan Norcini said the ban's removal has been largely priced in, and investors are returning to cattle exposure ahead of the U.S. Labor Day holiday. Beef wholesale prices were mixed, with choice cuts down 40 cents and select cuts up $3.52 per hundredweight. Hog futures slipped, with lean hogs down about $1.25 per pound, as pork cutout prices rose modestly.

Overall demand appears stable, and the market remains attentive to both domestic consumption trends and export opportunities.