AR-News: U.S. Investigates Cattle Trades in Wake of Mad Cow

Animalconcerns info at animalconcerns.org
Tue Jan 27 01:35:37 EST 2004


WASHINGTON -- Federal regulators are investigating whether some commodity
traders last month had advance knowledge that the first U.S. case of
mad-cow disease was confirmed in Washington state, Tuesday's Wall Street
Journal reported.

Investigators with the Commodity Futures Trading Commission are
interviewing possible witnesses, reviewing documents and phone records,
and examining trading patterns on the Chicago Mercantile Exchange, the
commission's enforcement chief said yesterday. At issue are investors who
took short positions in live-cattle futures, betting on a price decline,
in the days just before the Dec. 23 announcement by U.S. Department of
Agriculture Secretary Ann Veneman.

full story:
http://www.quicken.com/investments/news_center/story/?story=NewsStory/dowJones/20040127/ON200401270009000006.var&column=P0DFP

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