{"id":116520,"date":"2017-11-15T09:35:19","date_gmt":"2017-11-15T14:35:19","guid":{"rendered":"http:\/\/countingpips.com\/?p=116520"},"modified":"2018-06-01T15:49:13","modified_gmt":"2018-06-01T15:49:13","slug":"cattle-technical-analysis-holiday-in-the-us-may-reduce-the-demand-for-beef","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/11\/cattle-technical-analysis-holiday-in-the-us-may-reduce-the-demand-for-beef\/","title":{"rendered":"CATTLE: Technical Analysis – Holiday in the US may reduce the demand for beef"},"content":{"rendered":"
November 15, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Holiday in the US may reduce the demand for beef<\/strong><\/p>\n

The demand for beef is expected to decline in the US on the eve of a long weekend before Thanksgiving. Will the FCATTLE quotes<\/a> drop?<\/p>\n

The US meat processing factories may be partially closed on November 23-24, 2017, during the Thanksgiving celebration. Traditionally, these days, the US residents have turkey. The beef price reduction may also be contributed by relatively low grain prices, used for fattening. In particular, the US company Tyson Foods reported an increase in overall profitability in meat production. However, grain is mainly used in poultry farming. The US Department of Agriculture announced an increase by 14% in beef exports from the US in January-September 2017 compared with the same period of the last year.<\/p>\n

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

On the daily timeframe, FCATTLE: D1<\/b> is dropping and moving to the support level of the rising trend. A downward correction is possible in case of a decrease in the demand for beef and an increase in its production.<\/p>\n