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AFBF Urges Close Examination of Livestock Markets

Extreme volatility in livestock markets is raising red flags across the country, leading the American Farm Bureau to urge the Commodity Futures Trading Commission, the U.S. Department of Agriculture and the Chicago Mercantile Exchange to leave no stone unturned as they monitor and analyze market activity.

American Farm Bureau President Zippy Duvall applauds Agriculture Secretary Sonny Perdue for expanding USDA’s investigation into market activity surrounding the Holcomb fire to include the volatility and disparities surrounding the COVID-19 outbreak in the United States.

“The level of frustration with market volatility among livestock producers has never been higher,” said Duvall. “I applaud Secretary Perdue for his commitment to expand USDA’s investigation. It won’t bring back lost income for producers, but it will help to restore confidence in our pricing system.”

Duvall spoke this week with both Secretary Sonny Perdue and CFTC Chairman Heath Tarbert about the rising concern and frustration among livestock producers. Duvall followed up with a letter to Chairman Tarbert.

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