The Thursday comments made by the President, saying he had a deal on beef that would bring prices down, sent the cattle futures south on Friday. “Once again, President Trump is making comments impacting the markets,” said Arlan Suderman, chief commodities economist, StoneX. Cattle futures were trading at all-time highs, but that changed after Trump made those comments. “The speculative traders who hold large long positions in this market, at least we believe that to be the case, we don’t know for sure with the government shutdown and no weekly CFTC report,” said Suderman. “They got nervous when they saw that comment and they started selling off, taking feeder cattle down the $9.25 limit and live cattle have been down more than $6.”
