A deadly cattle pest called New World screwworm has been found in Texas, 60 years after it was effectively eradicated in the United States.

Why it matters: The U.S. beef herd is already the smallest it's been in 75 years, and retail prices for the staple protein are at record highs.

Catch up quick: The U.S. Department of Agriculture confirmed the case in Zavala County, Texas, late Wednesday and launched an emergency response.

The industry long feared an infestation in the United States after the pest — actually the burrowing larvae of a fly — was found moving north in Mexico.

The intrigue: On Tuesday, Agriculture Secretary Brooke Rollins denied the pest had been found within a mile of the U.S. border.

A day later, USDA confirmed it was in fact already in Texas.

Between the lines: The government's response plan does not include a cull, like it did for birds during the bird flu outbreak.

Instead, authorities plan to quarantine and treat the affected animals.

Yes, but: The industry still fears devastating losses, as well as possible sharp drops in consumer demand.

The CDC says it's rare for the New World screwworm to affect humans, but when it does, it causes bleeding sores that may need surgery.

State of play: Beef has been the most stubborn line on the American grocery bill. Ground beef hit a record $6.89 a pound in May, the highest since the government started tracking it in 1984.

The squeeze traces to three forces: a historic drought that pushed ranchers to sell off breeding cows, high feed costs that made rebuilding the herd painfully slow, and consumer demand that refused to break even as prices climbed.

By the numbers: Live cattle futures fell about 0.8% Thursday morning as the news spread, after doubling over the last five years as shortages mounted.

"NCBA and our state partner organizations have been working for more than a year to combat the incursion of the New World Screwworm, and we are doing everything possible to protect the interests of American cattle producers," National Cattlemen's Beef Association CEO Colin Woodall said in a statement Wednesday.

What to watch: The USDA's response includes emergency shipments of treatment supplies and accelerated efforts to release sterile flies to control the possible population.

But there's also likely to be an active search for more infestations.