US - Futures company CME Group has announced a number of actions designed to enhance Live Cattle futures markets and help cattle producers manage risk.
The new measures are based on collaboration with and feedback from the cattle industry as well as the results from an independent study conducted by Informa Economics.
"We greatly value our relationship with the cattle community and are committed to helping producers and commercial firms manage their price risk," said Tim Andriesen, CME Group Managing Director of Agricultural Products.
"Since the start of the year, we have been working with the NCBA and the broader industry to enhance our cattle futures markets. While we are announcing these changes and will continue our ongoing work with the industry, we have concerns about the lack of transparency of cash cattle markets."
The measures include seasonal discount for futures deliveries at Worthing delivery point, revised grading and quality specifications and delayed listing of additional contract months beyond October 2017.
Click here to find out more about the measures.
TheCattleSite News Desk