Deriv traders settle with CFTC on cow-spiracy charges

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Deriv traders settle with CFTC on cow-spiracy charges

Beef, Brazil, Marfrig, meatpacker, cow
Herd of cattle. Latin America. The beef cattle industry is one of the most important activities in Latin American countries such as Argentina, Brazil and Uruguay. | Toniflap - Fotolia

The Commodity Futures Trading Commission (CFTC) on Wednesday said that cattle derivatives traders tied to a Memphis-based Futures Commission Merchant (FCM) “secretly” increased their positions by paying four cattle feed yards to buy and hold hundreds of futures on their behalf.

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