Monday, July 26, 2010

CME Volume

CME Group Volume Averaged 12.2 Million Contracts per Day in June 2010, Up 8 Percent, and 13.5 Million Contracts Per Day in Second Quarter, Up 31 Percent
- Double digit monthly year-over-year growth in equities, foreign exchange, energy and metals
- Second highest quarterly average daily volume ever
- Record quarterly FX average daily volume of 1.0 million contracts, up 82 percent
- Record quarterly energy average daily volume of 1.8 million contracts, up 29 percent
- Record quarter for WTI and refined products, up 52 and 36 percent, respectively

More at link.

No mention of dairy trading. It is too little to take note.

Probably the big players would like it if no one paid attention to the CME


  1. I still think that is why DFA is pushing so called "risk management" practices on farmers. If the "big players" can get more farmers betting on the CME, they are hoping their own shenanigans may be lost in the volume of traders.

    Not to mention, since DFA has been fined for manipulating the CME, the farmer who is practicing "risk management" is sure to come out on the losing end.

  2. Yes, and today I received DFA's newsletter on Strategic Planning, which to sum the letter up blames the farmer for not having a plan to survive. Quoting, " ...must look ahead, anticipate change, and develop a strategy to successfully navigate through the turbulence created by change"...

    Well, when you are losing $3.00 per cow, per day for a 10 month period, while the coops and Kraft and Dean Foods are making record profits, how the hell will a strategic plan help?

    Another quote, "Everyone in business needs to know what they sell or do, who their target customers are, and how to compete"....
    Isn't that what we pay you to do, and dearly I might add, to market our milk?

    And another part I love (sarcasm), they suggest I change my behavior, implement new procedures, hire different people, and put NEW systems in place....(Pay me a fair price for milk, and I will be glad to put NEW systems in place)

    Who writes these fluff pieces and just how much is in the DFA budget to pay these morons to give a pep speech that really is an insult to the farmer and blames the farmer for not surviving? It reminds me of those speakers that start their speech with, "We know that most farmers are college graduates" condescending and again, a veiled insult.

    I must find a new coop, even if I have to move.

  3. If farmers really wanted to apply risk management the first thing they would do is fire DFA. Crooks are those who steal your money and tell you they're looking out for your best interests. Yet farmers, at least out west, are still buying quota and joining DFA.