Friday hit a contract high of $215.60 a hundredweight. In late April, nearby live cattle futures hit a record high of $217.675. The feeder cattle futures (GFQ25) market last week hit a record high of $298.

Mexico's New World Screwworm outbreak halts livestock imports at the southern border as US officials work to prevent the parasitic fly from spreading to American animals.

Secretary Brooke Rollins says this decision wasn't made from politics or punishment, but rather for food and animal security.

Market-ready fed cattle numbers move from an extremely tight situation in April and the first half of May to a burdensome supply situation in June and July. Market-ready fed cattle supplies in Alberta and Saskatchewan during June and July are expected to be above year-ago levels.

The agency suspended livestock imports as a deadly screwworm parasite spreads northward in Mexico, threatening U.S. agriculture and food security.