A more positive tone for “macro-economic forces” with a possible deal to keep the government open may provide some short-term support for cattle, said The Hightower Report.
The strong recovery in beef prices and the strong consumer confidence readings are seen as bullish factors for demand as consumer beef demand has been exceptionally strong, said the Hightower Report.
Traders are waiting for U.S. news again with more U.S. reports coming. The Cattle Report and Cattle on Feed Report will be listed on February 28th and 22nd respectively. The January Cold Storage report will be issued on February 22. The February Cold Storage report will be released on March 7, Allendale said.