Live Cattle futures rallied after Texas screwworm detection.

August Live Cattle futures staged a sharp outside sweeping reversal to close higher after initially opening lower, reclaiming key short-term technical levels including the 10-day and 100-day moving averages. The sudden market turnaround followed a USDA confirmation of a New World screwworm case in La Pryor, Texas, which resulted in an indefinite closure of the livestock border with Mexico. While traders assess potential supply chain impacts from the biosecurity event, weekly export data highlighted slowing international demand, as beef export sales dropped 62% week-over-week to 4,900 metric tons, reflecting a clear price-rationing effect at current elevated levels.