The USDA is considering a program to protect livestock sellers if the buyer defaults. Chelsea Good with the Livestock Marketing Association says in the new farm bill, Congress directed the Ag Department to conduct a feasibility study on the Dealer Statutory Trust. “Unfortunately, in the world we live in today, when there is a dealer default and a bad check is received, there isn’t an ability for that farmer or rancher to go get those livestock back.” She tells Brownfield too often when a dealer fails to pay, that dealer’s bank takes first priority in the cattle.
Continue reading USDA considering Dealer Statutory Trust at Brownfield Ag News.
