CME Feeder Cattle Futures Surge After Early Slide on Screwworm Report
Feeder cattle futures on the Chicago Mercantile Exchange (CME) opened sharply lower Thursday as traders reacted to news of a confirmed New World screwworm (NWS) case in a calf in Zavala County, Texas.
Contracts later pared losses and moved sharply higher into positive territory following two consecutive days of steep declines linked to NWS concerns.
Market participants cited ongoing uncertainty about US cattle supplies and movement restrictions following the reported case...
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