Cattle Futures Gain With Deadly Pest Detected Near US Border

Cattle futures prices rose to the highest in more than three weeks after a deadly pest was detected in Mexico just 70 miles away from the US border.

The New World screwworm was found in the Mexican state of Nuevo León, marking the northernmost detection of a deadly parasite that is fatal to cattle, the US Department of Agriculture said on Sunday. Mexico’s Agriculture Ministry said in a statement that the case was detected with the larvae in an early phase, before it could grow into a fly.