U.S. cattle producers have called on CME Group Inc and federal legislators to rein in price volatility they say has rendered the world's largest livestock futures market ineffective.
Two groups of cattle producers agree volatility last year was extreme and a problem, but clash on the cause. The National Cattlemen's Beef Association blames price swings on high-frequency traders, and R-CALF USA says the nation's largest meat packers fueled price swings.
CME Executive Chairman Terrence Duffy will face complaints about the sharp moves next week at an annual meeting of the National Cattlemen's Beef Association, a trade group representing more than 175,000 producers and feeders in California.
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