This is Derrell Peel's closing paragraph from the above article:

"What’s worse than no feeder cattle futures?  The answer may be when we have what appears to be a dysfunctional feeder futures market that is not ignored by enough of the industry and thus messes up actual feeder markets.  This is, or is close to, the situation today."

He seems to be saying that we would be better off with NO feeder futures than what we have today.  The situation in today's feeder futures "messes up actual markets"

It seems that almost NO cow/calf people actually use the feeder futures to hedge. There is no actual delivery of feeder calves, unlike the grain markets.

Why not let the cash markets determine their own prices for feeder calves rather than being pushed and pulled by a "dysfunctional" computer and "portfolio" driven paper-only, "thinly traded", "non-liquid" (=distorted) futures market???