An online cattle auction that aims to improve transparency in livestock pricing is preparing to resume operations in September after fixing technological problems, according to a Reuters article.
The online auction, called the Fed Cattle Exchange, plans to begin holding weekly auctions on Sept. 14 and wants to increase the number of cattle traded in the cash market before slaughter, its owner told Reuters. It conducted several sessions before suspending auctions in June.
The auction hopes to address concerns that cash and futures prices do not accurately reflect the markets for cattle, following a sharp pullback last year from record 2014 levels.
The Government Accountability Office is conducting a formal review of price volatility in the cattle markets, including an assessment of high-frequency trading in cattle futures, Reuters said