Live Cattle futures experienced a sharp downturn on Friday, despite posting strong gains earlier in the week. December Live Cattle futures closed $6.05 lower, settling at $241.82, which put the contract down $0.70 for the week. November Feeder Cattle futures were significantly impacted, locking limit lower at a price of $371.78, down $9.25 on the day and $4.20 for the week. Due to the limit-lower move in Feeder Cattle, both Live Cattle and Feeder Cattle will have expanded price limits on Monday: $0.1075 for Live Cattle and $0.1375 for Feeder Cattle. The major pressure point was speculation following a statement from the President on Thursday about bringing down the price of beef. In contrast, the cash cattle market was reported higher today, with trades of $240 to $242 taking place in Texas, which was sharply higher from the previous week. December Lean Hog futures also saw their third straight week of losses, closing $0.22 lower on Friday to settle at $82.37.