The U.S. cattle market ended last week in turmoil as futures tumbled in reaction to President Donald Trump’s comments about a plan to lower beef prices, followed by a weekend statement that the U.S. could import beef from Argentina.
The remarks sparked immediate volatility, sending both live and feeder cattle contracts sharply lower and leaving producers and traders searching for clarity.
Trump first made headlines on Thursday when he told reporters in the Oval Office that beef prices were “higher than we want it” and that his administration had a plan to bring them down “pretty soon.”