Commodity Futures Trading: Purpose, Use, Impact, and Regulation of Cattle Futures Markets

摘要

The report discusses the cattle futures markets' reaction to the U.S. Department of Agriculture's March 1986 announcement of the details of the Dairy Termination Program, the economic purpose of the cattle futures markets and their effect on cattle prices; the effect of the increased use of forward contracting; the effectiveness of the system for delivering cattle under the live cattle futures contract; and the effectiveness of public and private regulation of the cattle futures markets.