The Hightower Report said, “The cattle complex opened slightly higher and strong buying pushed prices up to a sharply higher close after yesterday’s morning rally failed to carry. Today’s strength may be partly due to the fact a deal with Iran is closer than ever and is likely to reduce inflation and recession fears here in the U.S. as energy prices pull back. Nearby cattle months steep discount to cash also was a supportive factor. Cutout jumped sharply at midday. The tug of war between tight cattle supplies, strong cash prices and the desire of the current administration to bring beef prices down, continues.”