Cattle groups continue to express concern about the low cattle prices and are pressing for changes in the cattle market to deal with recent volatility. Kim Ulmer, owner of Huron Continental Marketing Auction in Huron, South Dakota, is surveying producers to get their opinion on the problem with the cattle futures at the CME.
Ulmer’s goal is to survey at least 1,000 producers and submit their response to the House and Senate Ag Committees, the CFTC, and the livestock division of the CME. He says so far he’s sent in nearly 200 responses.
Ulmer says fund traders are currently controlling the CME cattle futures and that needs to be changed.
Ulmer will be speaking at R-CALF meetings this week in South and North Dakota. The meetings will focus on challenges in the cattle market and possible solutions.
