Trump Trade: DOJ criminally investigating meatpackers

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.

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MEATPACKERS UNDER INVESTIGATION: After President Trump in November accused beef companies of manipulating prices for cattle and driving up prices for consumers, the Justice Department’s antitrust division is criminally investigating the conduct of large meatpackers, reported The Wall Street Journal‘s Dave Michaels and Patrick Thomas. The Justice Department disclosed an investigation of beef companies after Trump’s call for intervention, but officials haven’t revealed that it is a criminal probe, the report noted. Publicly traded companies in the meat production space include Hormel Foods (HRL), JBS (JBS), Pilgrim’s Pride (PPC) and Tyson Foods (TSN).

IRAN WAR, TARIFFS: In an interview with CNBC, President Donald Trump said the U.S. is in “strong negotiating position” with Iran and that he does not want to extend the ceasefire further. The president also told CNBC he expects the U.S. to make “great deal” with Iran. Discussing tariffs, Trump said he will “remember” the companies that don’t seek refunds.

DOW CONTRACT: Elbit Systems (ESLT) has been awarded a maximum $21,663,920 firm-fixed-price, indefinite-quantity contract for image intensifiers. This was a sole-source acquisition using justification 10 U.S. Code 3204 (a)(1), as stated in the Federal Acquisition Regulation 6.302-1. This is a five-year contract with no option periods. The ordering period end date is April 19, 2031. Type of appropriation is fiscal 2026 through 2031 defense working capital funds. The using customer is Navy.