Washington, D.C. (April 9, 2014)—The National Council of Farmer Cooperatives (NCFC) today welcome the House Agriculture Committee’s approval of H.R. 4413, legislation that would reauthorize the Commodity Futures Trading Commission (CFTC).
“I would like to commend both House Agriculture Committee Chairman Frank Lucas and Ranking Member Collin Peterson for introducing this bipartisan legislation,” said Chuck Conner, president and CEO of NCFC. “The bill recognizes the many difficulties and costs to hedgers—including farmer co-ops and their farmer-owners—that have resulted from the implementation of the Dodd-Frank Act and CFTC’s customer protection rule.”
Conner noted that H.R. 4413 includes a number of provisions that will help ensure farmer co-ops have the tools to help hedge their commercial risk in production, processing and marketing a wide range of agricultural, energy and food products.
“Just as important,” he continued, “the bill will enable co-ops to continue to offer their farmer-owners tools to help them hedge their production risk at the farm level. We hope that the full House takes up this legislation in an expeditious fashion and urge support for passage.”