Chicago Mercantile Exchange (CME) live cattle futures turned higher for the fifth day in a row on Wednesday, lifted by a strong cash trade, Reuters reported, citing analysts.
Feeder cattle futures traded on both sides of unchanged, but ended slightly lower.
"I think the front months are reacting to the cash trade," said Austin Schroeder, commodity analyst at Brugler Marketing.
Chicago Mercantile Exchange June live cattle gained 1.75 cents to end at 255.25 cents per pound. May feeder cattle ended 0.225 cent lower at 371.50 cents per pound.
Market players expect that the US-Mexico border will not re-open to cattle imports in the near-term as New World Screwworm cases continue to spread in Mexico.
Further amplifying screwworm concerns, Florida Commissioner of Agriculture Wilton Simpson announced this week that all warm-blooded animals entering from Texas counties near the border with Mexico need to undergo additional veterinary screenings to check for screwworm.
The US Food and Drug Administration this week also authorized the use of a topical powder that prevents and treats screwworm infestations.
Wholesale beef prices have remained relatively firm, though they slid on Wednesday afternoon. Choice cuts of beef fell 85 cents to $388.05 per hundredweight, and select cuts fell $2.53 to $386.25 per hundredweight, according to US Department of Agriculture data.
Beef packer margins remained deep in the red, with packers estimated to lose $129.55 per head of cattle slaughtered on Tuesday, an improvement from $194.55 per head at the same time a week ago.
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