yes. The CME cattle futures is just a game.

A game which has the add on effect of screwing producers through the entire US cattle production chain.

The board will say it gives producers and end users a way to predict costs.

Fine. If that is the intent then those end users should have to take delivery at contracted prices.

Unfortunately due to the thin trading in board cattle contracts, especially feeders, a few gamblers can get in with large positions and move the market, then get out without ever having to unload a steer. And they make so much money at this, at the cattleman's expense, things are not likely to change unless the government steps in. Fat chance of that with the way money talks in Washington these days.