CHICAGO, Dec 3: Encouraging comments that Russia may be close to buying more US beef drew positive comments from livestock analysts on Monday, but they said it may take actual purchases before cattle markets will react.

“I am hopeful about it, but, in this case, we have to see the orders before we trade it,” said Rich Nelson, an analyst.

Former US trade negotiator Richard Crowder said in a Wall Street Journal story that the United States and Russia could be close to a deal that would loosen restrictions on imports of US beef by Russia. Government and industry trade officials were unavailable early on Monday to confirm if a deal was near.

Russia has bought small amounts of US beef recently, but the business has been far short of 2003, when it was the fifth largest overseas buyer of US beef and beef products.—Reuters