Some do, some don’t. You know that for every dollar made on a futures contract, a dollar is lost on the other side?
Yes, I do. Maybe you’re right that most of the time, speculating doesn’t drive up prices. The exception would be during a bubble when there is a glut of money flowing into the market going long due to irrational exuberance. Of course when the bubble bursts, the market will go farther the other way possibly making it a wash.
Then how could you claim they add costs to the consumer?
The exception would be during a bubble when there is a glut of money flowing into the market going long due to irrational exuberance.
For every long contract, there has to be a short contract.