R-CALF USA is requesting a federal investigation into suspected false reports of new world screwworm.
The organization submitted a formal request to the Commodity Futures Trading Commission, claiming false reports triggered last week’s cattle futures sell-off.
R-CALF is requesting that the commission to launch an investigation into the source of the false report and to take action if any violations are found.
Their CEO Bill Bullard stated:
“We are deeply concerned that this potential manipulation harmed our nation’s independent cattlemen and women who rely on accurate market information to make informed business decisions.”
The accuracy of the alleged new world screwworm case in Missouri has been denied by the Missouri Department of Agriculture as well as USDA.
Farmers will need to closely monitor forecasts if the regulatory changes are implemented, as temperature cutoffs will replace fixed spray dates.
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