Hearings were held this week in the House on the future of the Commodity Future’s Trading Commission. Farmers Union disagrees with members who argue the Dodd Frank Act and many other regulations should be repealed in order to help markets work better. Nebraska Farmers Union President John Hansen says farmers and ranchers who are end users of commodities need the protections Dodd Frank provides.
Hansen says it’s difficult to understand why the House Ag Appropriations Committee would reduce CFTC funding for fiscal year 2014 if they truly believe a marketplace is needed to serve the interest of end users.
There is agreement between Farmers Union and House members that well functioning markets are essential to grow the economy.