USDA lifts Mexican cattle ban, spurring futures rise and Cargill labor deal

The U.S. Department of Agriculture announced it is lifting a ban on imports of Mexican cattle that had been in place for more than a year to keep out the New World screwworm. The move eases supply constraints in the U.S. beef market, prompting feeder cattle futures to rise 1.55 cents and live cattle futures up 0.525 cents. At the same time, a tentative agreement was reached between Cargill and the meat packers union at the Fort Morgan, Colorado plant, ending a lockout that began on May 20. Analysts said the deal adds processing capacity and supports market sentiment. In related commodity action, lean hog futures recovered after a two‑week low, and the USDA priced the pork carcass cutout at $100.01 per hundredweight, down $1.63. Beef cut prices also moved higher.