The US president, unhappy with last week's US election results, vented against the US beef industry last Friday.
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US cattle futures have indeed been manipulated into a selloff, though beef at the meat counter has largely ignored the move.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis. The US president could get his demand for lower meat prices if economic policies lead to an economic slowdown, as feared by the US Federal Open Market Committee.
Back in the day when I worked in the newsroom, part of my job was to visit with Chicago floor reporter Gary Wilhelmi. Gary had been around markets for decades and had wonderful stories from both the Board of Trade and Mercantile Exchange. Those of you who have been with me for a while are familiar with the Wilhelmi Element (The only price that matters is the close) and the Market Meteorological Musing (Weather patterns tend to change with the seasons), but there was so much more to our daily visits.
