Comment Text:
Dear Secretary Stawick:
We are cattle producers from Wyoming and we strongly urge the CFTC to move forward to implement and enforce the provisions in the Dodd-Frank Act that are intended to increase the confidence, security and stability in commodity futures markets while preserving market liquidity, competition, and hedging and price discovery functions of the market.
A specific concern to the cattle industry is the practice whereby large beef packers, which are legitimate hedgers for a certain volume of cattle, enter the commodity futures markets also as speculators with the intent and effect of manipulating the futures and cash price of cattle. These beef packers should not be entitled to the end-user exception for speculative trades beyond their physical needs for slaughter cattle.
Thank you for your support of America’s family ranches and feedlots.
Troy & Toni Cochran
Wheatland, WY
