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“Reports this morning that Iran may be close to agreeing to a peace deal may give cattle a boost on the opening, due to sharply lower energy prices and a sharply higher U.S. stock market,” the Hightower Report said. “Friday’s heavy weakness in cattle was reversed yesterday, and price action may be following the recent trend of minor pullbacks followed by new highs, but today’s close may be a key indicator if there is going to be a change in the pattern this time.”
