Live cattle futures were up $2.50 to $3.05 on Friday to round out the week with $8.32 losses. The Friday morning Central Stockyards Fed Cattle Exchange online auction showed $228-230 sales on 160 of the 1,228 head offered. Outside of that, Northern sales have been reported at $230-230.50, with $232 Southern sales this week. Feeder cattle futures rallied back higher into Friday’s close, as contracts were up $2.80 to $4.35 at the close. November was still down 12,475 on the week. The CME Feeder Cattle Index was back down $1.86 to $345.96 on November 6.
President Trump posted after the Friday close that he has “asked the DOJ to immediately begin an investigation into the Meat Packing Companies who are driving the price of Beef through Illicit Collusion, Price Fixing, and Price Manipulation.”
