{"id":103384,"date":"2017-03-13T06:33:47","date_gmt":"2017-03-13T10:33:47","guid":{"rendered":"http:\/\/countingpips.com\/?p=103384"},"modified":"2017-03-13T06:34:16","modified_gmt":"2017-03-13T10:34:16","slug":"cattle-commodities-technical-analysis-mad-cow-disease-detected-in-spain","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/03\/cattle-commodities-technical-analysis-mad-cow-disease-detected-in-spain\/","title":{"rendered":"CATTLE: Commodities Technical Analysis – \u201cMad cow disease\u201d detected in Spain"},"content":{"rendered":"
March 13, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

\u201cMad cow disease\u201d detected in Spain<\/strong><\/p>\n

World Organisation for Animal Health reported a case of \u201cmad cow disease\u201d in Spain. Will beef prices<\/a> advance?<\/p>\n

The infected animal was detected in northwestern region of Castilla-Leon, with no any details. European Union ranks 3rd in global beef production producing 7.6mln tonnes a year. This is about 13% of global production. At the same time, EU is net importer of beef and consumes about 150 thousand tons more than produces. The European Union accounts for 9% of global cattle number. It is hard to predict whether there is real risk that mad cow disease spreads across the European countries. But the fact is that beef prices sky-rocketed almost 50% when the disease first appeared in the US in 2003.<\/p>\n

\"FCATTLE\"<\/p>\n

On the daily chart FCATTLE: D1<\/b> is within the rising channel. Last week it failed to break down through the support line. After that prices moved up towards the resistance line. The further increase is possible in case \u201cmad cow disease\u201d (or Bovine spongiform encephalopathy) spreads in the European countries.<\/p>\n