WASHINGTON, D.C. — On May 28, R-CALF USA submitted an official request to the Commodity Futures Trading Commission (CFTC), calling for an immediate investigation into a suspected false report that allegedly triggered a cattle futures selloff on May 27.
In a letter addressed to the director of the CFTC Division of Enforcement, R-CALF USA referenced claims that the sharp drop in live cattle futures was caused by a false report suggesting that New World screwworm (NWS) had been detected in Missouri. The organization urged the commission to trace the origin of the report and to initiate enforcement proceedings if violations of the Commodity Exchange Act are uncovered.
R-CALF USA emphasized that if someone intentionally released a false report to manipulate cattle markets, it could seriously undermine market integrity and threaten the financial stability of U.S. cattle producers.
“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,” said R-CALF USA CEO Bill Bullard.
Both the Missouri Department of Agriculture and the U.S. Department of Agriculture have denied the legitimacy of the report. The Missouri Department of Agriculture characterized the claims as “unfounded” and confirmed there had been no detection. Similarly, the USDA released a statement declaring that the reports of NWS detection in the United States were “not true.”
