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On Friday, live cattle futures rose between $2.50 and $3.05, concluding the week with a total loss of $8.32. Feeder cattle futures also increased, with gains of $2.80 to $4.35. The USDA reported that cash cattle trade prices were $230-230.50 in the north and $232 in the south, while the total federally inspected cattle slaughter for the week registered at 555,000 head, down 4,000 from the previous week and 65,666 less than the same week last year.
In a related announcement, President Trump called for an immediate DOJ investigation into meatpacking companies for potential price fixing and manipulation, as they have been allegedly inflating beef prices.
Key cattle closing prices included December Live Cattle at $221.350 (up $2.575), February Live Cattle at $219.750 (up $3.000), and November Feeder Cattle at $326.400 (up $4.350).
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