U.S. beef cattle producers report better-than-expected earnings as USDA announces revised beef futures market
U.N. Secretary-General Antonio Guterres on Tuesday issued a new draft of the U.K.’s beef futures trading system that he said will give producers better information on the performance of their product and boost confidence.
Guterres’ comments came hours after the U,S.
Department of Agriculture announced it had revised the system, which would help producers and traders better gauge the market’s mood.
Guterre said he had received assurances from U.J.S., the UBS and other participants that they would implement changes, including requiring U.C.I.C.’s benchmark futures exchange rate to be based on the UCR’s current price and adding a market-clearing index.
U.S.-based futures trading companies will be able to issue futures contracts to the UCP’s market index and the CFTC’s CFTC-traded futures market, Guterrez said.
The CFTC, which regulates U.P. and other commodities, will be responsible for determining what constitutes a CFTC derivative, and it will have the power to determine the minimum price that a futures contract must be priced at.
Gutierrez also said he has received assurances that the UCCS, the agency responsible for U.G.C., the EU-backed U.U., will provide a single source of information about its beef markets.
That source will be independent of U.O.
U, which is owned by U.E.G., the world’s largest cattle producer.GUTERREES: I have received assurances by the UCO Group and other parties that they will implement changes that will enhance confidence and help producers manage their futures contracts and market positions.
I have also received assurances about the availability of the European CFTC benchmark futures market and the availability and availability of CFTC derivatives.
I have also requested additional information from UCO, and I will continue to seek additional information.