R-CALF is asking the Commodity Futures Trading Commission to investigate trades that led to record beef packer margins. R-CALF CEO Bill Bullard says their members discovered the problem earlier this year.
He says following that discovery, R-CALF members studied the relation between fed cattle prices and boxed beef prices between 2013 and 2018.
Bullard says the CFTC has the authority to take action if their investigation shows a problem and agrees with R-CALF study results.
Bullard says the U.S. cattle industry has lost 75-percent of its farmer feeders over the past twenty years and more recently. He says it’s clear the marketplace is broken and needs to be fixed to restore competition.
