Investigators with the Grain Inspection, Packers and Stockyards Administration (GIPSA) are looking into unpaid livestock transactions at Eastern Livestock Company at New Albany, Indiana.
“There appears to be a significant amount that is owed for cattle to sellers in several states,” said Jay Johnson who serves as the Regional Director of the GIPSA Midwest Regional office in Des Moines. “The amount, unpaid, likely exceeds $90 million.”
According to Mark Mackey, CEO of the Livestock Marketing Association (LMA), Eastern Livestock is one of the largest feeder cattle brokerages in the U.S. operating in all 48 contiguous states.
For those livestock farmers doing business with Eastern Livestock, Mackey tells Brownfield it’s a complicated situation.
“You want to make certain that you work with an attorney or someone in the profession to sort this matter out because it’s a complex situation,” Mackey said.
© Copyright 2010 Brownfield, All rights Reserved. Written For: Brownfield