Futures Market News
USDA to probe mad cow disease circumstances at California farm
Apr 27, 2012 09:19 AM
U.S. federal investigators have launched a probe of the nation's first case of mad cow disease since 2006, which was announced earlier this week in Central California, according to Bloomberg.
Specifically, the Commodity Futures Trading Commission – which regulates U.S. derivatives – is delving into how and when the information was released. The U.S. Agricultural Department on Tuesday confirmed the presence of bovine spongiform encephalopathy in a dairy cow, prompting cattle futures to slide in value.
"CFTC reached out to USDA with questions on the BSE announcement timeline for their routine market analysis," spokeswoman Courtney Rowe with the USDA stated in an email to the news service on Wednesday.
At 6:53 a.m. on Friday, cattle futures fell 0.11 percent, a 0.00125 cent loss to $1.1225 per pound.
The Associated Press reports federal officials said the dairy cow was euthanized after it was of lame demeanor and was lying down. Its age was 10 years and seven months.
The cow infected with the brain-wasting ailment was from a farm in Tulare County, the country's top dairy producer, according to a spokesman for the U.S. congressman representing the district hosting the farm.
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