Tyson Foods’ decision to close a beef plant that employs nearly one third of residents of Lexington, Nebraska, could devastate the small city and undermine the profits of ranchers nationwide.

Feeder cattle prices continued their long-term uptrend, posting new contract highs again this past week.

Soybean futures traded higher overnight; cattlemen are ‘concerned’ about Trump’s beef comments.

“Today’s comments alone triggered an immediate reaction in the markets — cattle futures dropped significantly. It’s important to underscore: the current price of beef on grocery store shelves reflects the true, inflation-adjusted cost of raising cattle in America today.

“President Donald Trump said Sunday that the United States could purchase Argentine beef in an attempt to bring down prices for American consumers.”