(Sept. 21, 1922, ch. 369, § 16, as added Pub. L. 93–463, title IV, § 414,Oct. 23, 1974, 88 Stat. 1414; amended Pub. L. 97–444, title II, § 232,Jan. 11, 1983, 96 Stat. 2320; Pub. L. 106–554, § 1(a)(5) [title II, § 251(e)], Dec. 21, 2000, 114 Stat. 2763, 2763A–443.)
2000—Subsec. (e). Pub. L. 106–554
added subsec. (e).
1983—Subsec. (d). Pub. L. 97–444
prohibited disclosure of market positions.
Effective Date of 1983 Amendment
Amendment by Pub. L. 97–444
effective Jan. 11, 1983, see section 239 ofPub. L. 97–444
, set out as a note under section
of this title.
For effective date of section, see section 418 ofPub. L. 93–463
, set out as an Effective Date of 1974 Amendment note under section
of this title.
Study of Trading in Cattle Futures Contracts
Pub. L. 99–641
, title I, § 111,Nov. 10, 1986, 100 Stat. 3561
, provided that:
“(a) Study.—The Comptroller General of the United States shall conduct and complete a comprehensive study of the effect of trading in contracts for the future delivery of live cattle on the cash market price of live cattle, with particular emphasis on—
“(1) whether the reaction of the live cattle futures market to the results of the milk production termination program in March 1986, conducted under section 201(d)(3) of the Agricultural Act of 1949 (7
), was based on and accurately reflected the then prevailing conditions of supply and demand;
“(2) the effect of the trading in contracts for the future delivery of live cattle on—
“(i) the price relationship between feeder cattle and fed cattle;
“(ii) the price discovery process with respect to live cattle; and
“(iii) price competition within the cattle industry;
“(3) the effect of the use of packer contracts, as a means of obtaining slaughter cattle, on the increase in short hedging in contracts for the future delivery of live cattle and the effect of this increase in short hedging on prices in the futures and cash markets;
“(4) the effect on the ability of the cash markets to accurately reflect prevailing conditions of supply and demand if packer contracts become the prevalent method of marketing fed cattle;
“(5) whether the present delivery system for contracts for the future delivery of live cattle creates any bias (either upward or downward) in the cash price for cattle;
“(6) whether the present delivery system for contracts for the future delivery of live cattle creates price volatility during the delivery month; and
“(7) whether there are advantages or disadvantages to a cash settlement system in lieu of the present delivery system in the case of contracts for the future delivery of live cattle.
“(1) Preliminary report.—Not later than January 15, 1987, the Comptroller General shall submit a preliminary report on the results of the study required under subsection (a) to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate.
“(2) Final report.—Not later than 1 year after the date of enactment of this Act [Nov. 10, 1986], the Comptroller General shall submit to such committees a detailed final report of the results of the study required under subsection (a).”
Potato Futures Study; Submission of Report to Congress
Pub. L. 95–405
, § 27,Sept. 30, 1978, 92 Stat. 877
, required, within one year of Oct. 1, 1978, Secretary of Agriculture to (1) conduct a comprehensive study of marketing of Irish potatoes and of making and trading of contracts of sale for future delivery of Irish potatoes, including rules and regulations pertaining to such trading issued by Commodity Futures Trading Commission or any contract market designated by Commission; and (2) submit to each House of Congress a detailed report on results of such study, and that report should also include any proposals Secretary may have concerning any legislation needed to implement such recommendations and concerning any modifications and rules and regulations needed to improve regulation of such contracts by Commission or any contract market designated by Commission.