Chicago Mercantile Exchange: Proposed Amendments to the Live Cattle Futures Contract Restricting Delivery to Cattle Born and Raised in the United States; Reopening of the Public Comment Period

Zusammenfassung

In the July 15, 2003, Federal Register (68 FR 41783), the Commodity Futures Trading Commission (Commission) requested public comment on proposed amendments to the live cattle futures contract traded on the Chicago Mercantile Exchange (CME or Exchange). The proposals were submitted for Commission approval pursuant to the provisions of Section 5c(c)(2) of the Commodity Exchange Act (Act) and Commission Regulation 40.5. The proposals will require that all cattle delivered on the futures contract must be born and raised exclusively in the United States, and the seller must provide supporting documentation that conforms to industry standards at the time of delivery. The amendments are contingent upon the promulgation by the United States Department of Agriculture (USDA) of regulations implementing Country Of Origin Labeling (COOL) requirements pursuant to Section 10816 of Public Law 107-171 (the Farm Security and Rural Investment Act of 2002), which by statute is intended 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. The comment period for the proposed amendments closed o