# CFTC fines U.S. cattle futures traders $5 million

> US regulators fined Memphis trading firm McVean Trading & Investments and three associates $5 million for manipulating CME cattle futures. The CFTC said they used feedyards as straw purchasers to secretly control large portions of the market in 2012 and 2013.

- Date: 2017-06-21 · published 2017-06-21T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/70628-cftc-fines-u-s-cattle-futures-traders-5-million
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

The enforcement action concerns market integrity and does not change cattle supply or demand fundamentals, so its direct effect on feed demand is minimal.

## Read by commodity

- FCATTLE: neutral
- LCATTLE: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2017-02-17 | [USCA Comments on Recent Amendments to Live Cattle Futures Contract \| TSLN.com](https://feedsoft.ai/events/72632-usca-comments-on-recent-amendments-to-live-cattle-futures-contract-tsln-com.md) | +2.7% | +3.4% |
| LCATTLE | 2017-06-21 | [Regulators Accuse Brokerage of Cattle-Futures Scheme](https://feedsoft.ai/events/70629-regulators-accuse-brokerage-of-cattle-futures-scheme.md) | -3.7% | -5.4% |
| LCATTLE | 2019-01-31 | [Cash trade vs. fed cattle basis; what’s the deal?](https://feedsoft.ai/events/61218-cash-trade-vs-fed-cattle-basis-what-s-the-deal.md) | +0.3% | +2.5% |
| LCATTLE | 2020-05-30 | [Cattle feeders look for market fix](https://feedsoft.ai/events/53278-cattle-feeders-look-for-market-fix.md) | -3.5% | -9.6% |
| LCATTLE | 2022-07-12 | [Sask. cattle producers call for meat pricing investigation, transparency](https://feedsoft.ai/events/40439-sask-cattle-producers-call-for-meat-pricing-investigation-transparency.md) | -1.0% | -0.4% |
| FCATTLE | 2018-05-22 | [CME amends feeder cattle futures, options rules - Grainews](https://feedsoft.ai/events/65153-cme-amends-feeder-cattle-futures-options-rules-grainews.md) | +8.3% | +11.7% |
| FCATTLE | 2017-06-21 | [Regulators Accuse Brokerage of Cattle-Futures Scheme](https://feedsoft.ai/events/70629-regulators-accuse-brokerage-of-cattle-futures-scheme.md) | +0.7% | +7.3% |
| FCATTLE | 2020-05-30 | [Cattle feeders look for market fix](https://feedsoft.ai/events/53278-cattle-feeders-look-for-market-fix.md) | -0.9% | -2.0% |

## Sources

- reuters.com: https://www.reuters.com/article/business/cftc-fines-us-cattle-futures-traders-5-million-idUSKBN19C2LB/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.