For Release: August 4, 2003
CFTC Extends Comment Period on Proposed Amendments to the Chicago Mercantile Exchange’s Live Cattle Futures Contract Restricting Delivery to Cattle Born and Raised in the United States
Washington, D.C. – The Commodity Futures Trading Commission has extended to August 22, 2003, the comment period on proposed amendments to the Chicago Mercantile Exchange’s live cattle futures contract, which will require that all cattle delivered on the futures contract be born and raised exclusively in the United States, and that the seller provide supporting documentation conforming to industry standards at the time of delivery. The amendments are contingent upon the promulgation by the United States Department of Agriculture of regulations implementing Country Of Origin Labeling requirements pursuant to Section 10816 of Public Law 107-171 (the Farm Security and Rural Investment Act of 2002), which by statute is scheduled to take effect on September 30, 2004. The Exchange intends to apply the amendments to newly listed contract months beginning with the October 2004 contract month.
Notification of the proposed amendments was first published in the Federal Register on July 15, 2003, at 68 Fed. Reg. 41784.
Copies of the proposed amendments can be obtained by contacting the Office of the Secretariat, Three Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5100, or by accessing the Commission’s website at www.cftc.gov.