Producers of metals and other raw materials rose after comments from one key Federal Reserve official.
Fed Bank of New York President John Williams said he would support a rate cut in the near term, quelling fears that the central bank could extend a pause on rate reductions at its upcoming December meeting. Rate-sensitive gold futures rose to $4,076.70, paring losses to 0.3% for the week after testing the psychologically significant $4,000 level.
Tyson Foods, America's largest meat supplier, is planning to close one of its largest beef processing plants in Nebraska at a time when a cattle shortage in the U.S. and regulatory pressure is squeezing meatpacking companies.
Cattle futures fell earlier after President Trump signed an order yesterday removing the 40% tariff on Brazilian items including beef and coffee. The Trump administration has vowed to bring beef prices down after a spike recently, and said the Department of Justice has opened an investigation into meatpackers' pricing.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-21-25 1735ET
