Chicago– Chicago Mercantile Exchange (CME) livestock futures plunged Tuesday following conjecture of boosted beef imports into the united state, spurred by prospective exec action from the Trump administration.
- CME Influence: June live cattle futures dropped 1 700 cents to 247 700 cents per extra pound; August feeder livestock dropped 5 750 cents to 356 550 cents per pound.
- White House: Thinking about executive orders to lower beef prices and support breeders.
- Farm Bureau Concern: Warns increased imports could threaten breeder recovery and long-term herd restoring efforts.
- Cash Market: Livestock traded at $ 260 per hundredweight in Kansas and Texas Monday, up $ 4 from the previous week.