In his speech at the NCBA's Cattle Marketing and International Trade Committee on Friday, CME President Terrence Duffy laid out a number of reforms to be implemented and/or considered in order to maintain the viability of cattle futures.In last Thursday’s “Livestock” (see Ag Perspectives, 28 January), we noted CME President Terrence Duffy’s pending speech the next day at the National Cattlemen’s Beef Association’s (NCBA’s) Cattle Marketing and International Trade Committee and interest in what his comments would be regarding high frequency trading (HFT) as well as volatility in the Live Cattle futures contract along with other related issues as outlined. Duffy’s overall point of view was, “anytime markets go down, there is a lot more conver...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
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