The CMOC letter also urges Congress to investigate foreign investment in the commodities futures market and to take all appropriate action to correct distortions caused by such foreign investments. The letter makes clear that reform of the commodity futures markets needs to be accomplished quickly, and the group asks Congress to � ���"act now.� �� �Â
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� ���"Our organizations again urge swift and comprehensive action in order to reform these markets. We urge members of Congress not to be dissuaded or distracted by the � ���"scare tactics� �� � of those in the financial services industry that are profiting from the status quo,� �� � the group states in its letter.
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� ���"R-CALF hopes both the CFTC and Congress are receptive to these suggestions and will work with us to improve market opportunities for independent U.S. live cattle producers,� �� � Thornsberry said. � ���"We hope that the correspondence from R-CALFUSA and the CMOC coalition will spur the CFTC to repair the erosion of public confidence in these markets that has resulted from instances of manipulation, extreme price volatility and excessive speculation.� �� �
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R-CALF USA (Ranchers-Cattlemen Action Legal Fund, United Stockgrowers of America) is a national, non-profit organization dedicated to ensuring the continued profitability and viability of the U.S. cattle industry. R-CALFUSA represents thousands of U.S. cattle producers on trade and marketing issues. Members are located across 47 states and are primarily cow/calf operators, cattle backgrounders, and/or feedlot owners. R-CALFUSA directors and committee chairs are extremely active unpaid volunteers. R-CALFUSA has dozens of affiliate organizations and various main-street businesses are associate members. For more information, visit www.r-calfusa.com  or, call 406-252-2516.  Â
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