President Obama has signed into law that sweeping overhaul of financial regulations.
While most of the reforms are aimed at Wall Street, some could directly impact farmers and ranchers as well. Brett Crosby, a cattle rancher and commodities trader from Cowley, Wyoming fears the new regulations will take too much speculation out of the market—especially the feeder cattle market he likes to trade. Crosby tells CNBC the reforms could create fewer hedging opportunities and increased risk.
“Feeder cattle futures may not survive,” said Crosby. “Of course, that is the doomsday scenario. I’m not saying that is a likely scenario, but the feeder cattle contract is not a high volume contract like corn or live cattle.”
Crosby is also afraid it will become more expensive for him to trade commodities under the new regulations.
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