Release: 3910-96

For Release: May 1, 1996


    The CFTC's Agricultural Advisory Committee (AAC), Chaired by

Commissioner Joseph B. Dial, will hold its 21st meeting on Wednesday, May 8,

1996, from 1:00 to 5:00 p.m. The meeting will be held at the CFTC's

Washington headquarters, Three Lafayette Centre, 1155 21st Street N.W., in the

first floor hearing room, Room 1000.

The meeting will feature presentations by several expert witnesses on

topics of current interest involving agricultural markets. The speakers and

their subjects will include:

Ken Ackerman, Deputy Administrator for Risk Management, USDA's Farm

Services Agency, on the Federal Agriculture Improvement and Reform Act

Provisions for a USDA Office of Risk Management;

Neal Kottke, Chairman of the Chicago Board of Trade (CBOT) Regular

Grain Storage Capacity Task Force, on the Task Force's recommendations

concerning CBOT Grain Storage Capacity Issues;

Dr. Wayne Purcell, Director of the Research Institute on Livestock

Pricing, Virginia Polytechnic Institute and State University, on Needed

Changes in Tax Treatment of Cattle Feeders' Activities in Cattle


Paul Peterson, Director of Commodity Research, Chicago Mercantile

Exchange (CME), on the CME Proposal to Increase the Spot Month

Speculative Position Limit on the Live Cattle Contract;

Tom Coyle, Chairman - National Grain and Feed Association's Risk

Evaluation Task Force, on the Task Force's White Paper on Hybrid Cash

Grain Contracts - Assessing, Managing and Controlling Risk; and

Dennis Collins, Director of Agricultural Marketing for the CBOT, on

the CBOT Project A Trading System.

The meeting will also include an update by CFTC staff members on the

Division of Economic Analysis' White Paper on Agricultural Trade Options.

The AAC was created by the CFTC for the purpose of giving advice to the

Commission concerning agricultural issues. A list of the AAC's member

organizations can be found on page 3 of this release.

For further information about the AAC meeting, contact Kimberly Harter

at (202) 418-5050.



Joseph B. Dial.........Commissioner, Chairman of the Committee

American Agriculture Movement

American Agri-Women

American Bankers Association

American Cotton Shippers Association

American Farm Bureau Federation

American Soybean Association

Farm Credit Council

Farm Services Agency

Independent Bankers Association of America

Millers' National Federation

National Association of Wheat Growers

National Broiler Council

National Cattlemen's Association

National Corn Growers Association

National Cotton Council of America

National Council of Farmer Cooperatives

National Farmers Organization

National Farmers Union

National Grain and Feed Association

National Grain Sorghum Producers

National Grain Trade Council

National Grange

National Pork Producers Council

North American Export Grain Association

U.S. Rice Producers' Group