I think you are talking about what we called "warbles" on the ranch here. I don't know what type of fly lays the eggs but these warbles live just inside the hide on a cows back and grow until they are almost 3/8 of an inch in dia. and an inch to 1nch and a half long. When they "hatch" from the carrier cow they leave a perfect round hole in the hide up to 3/8 in dia. Some cows, even whole herds of them, can have hundreds of these hole if the cow isn't treated with Ruleene at an early stage of warble development . The "bumps that form under the hide are very easily seen on a cow with short summer hair. We treated our herd every year in early summer with a Ruleene pour from head to tail.
And yes magpies have been known to use the open hole for an easy route to a fresh flesh meal. Once started they keep at that hole, enlarging it and it usually become an "infected mass" that needs a magpie cull and then another medical treatment.