The South Dakota Stock Grower’s Association, along with R-CALF USA, is urging the CME Group to withdraw their proposed rule that would impose a seasonal $1.50 per head discount on all cattle tendered for delivery at Worthing, South Dakota. Stock Grower’s Executive Director Silvia Christen says the proposed rule in effect penalizes producers and it’s a market that’s already working well.
She says there was short turnaround with CME’s proposal and it was strange they singled out only one delivery point in the whole country.
Christen says it’s too early to say what alternatives the cattle groups have if CME doesn’t withdraw its proposed rule.
The deadline to file comments on CME’s rule is March 21.
