The Organization for Competitive Markets (OCM) says the recent passing of Les Messinger is a tragic loss for production agriculture.

Messigner, a live cattle futures trader, market analyst and independent cattle feeder, died of kidney cancer on Wednesday, November 23 at Northwestern Memorial Hospital in Chicago. He leaves behind his wife, Andrea Bascon, and three children.

OCM Past President Fred Stokes said Messinger was a trail-blazer on issues of concentration and captive supplies. "Les was a man of moral courage, who was never afraid to express his position on issues so central to agriculture, in particular the cattle industry. His accomplishments were remarkable," noted Stokes. "He devoted himself to the competition movement, by speaking out and making a difference."

Messinger served on virtually every major live cattle and/or agriculture committee that governs or directs any changes in live cattle and feeder cattle futures contracts at the Chicago Mercantile Exchange (CME).

Messinger testified before the Grain Inspection Packers and Stockyards Administration (GIPSA) in 2000 on the issue of captive supplies within the cattle industry saying, "Information is the lifeblood of proper pricing by floor traders. The result of captive supplies is that the practice drives futures prices down. Captive supply practices limit information which is necessary for a market to reflect true supply and demand factors. Further, the little remaining cash market information that traders are able to gather is controlled by the packing industry, rather than other sources, and generally carries a negative bias."

"The general consensus among those of us who process market information in the CME live cattle pit is that packers control the cash markets through the use of captive supplies. Futures prices are significantly and negatively affected by that perception."

"Les was an articulate, experienced voice for cattle producers," added Stokes. "Because of his life’s work in cattle futures trading his positions demanded respectful attention at every level. He aggressively defended independent producers and their markets. We’ve lost a true warrior and he will be missed. Our condolences go out to his family."

The Organization for Competitive Markets is an agricultural free market and competition think tank working for honesty, prosperity and economic liberty for farmers, ranchers and rural communities.