Latest News on Eastern Livestock's Woes
Eastern Livestock Company, LLC, one of the oldest and the biggest cattle order buyers in the U.S., had some $81 million in bad checks floating around the country. Their bank, Fifth Third Bank of Cincinnati filed to force the firm into receivership.
Check out the latest headlines on what's happening:
NCBA Wants Help for Those Hurt by Eastern Livestock
The association sent letters to USDA and the U.S. Small Business Administration (SBA) seeking financial assistance for cattle producers affected by the bankruptcy of Eastern Livestock Company, LLC.
Latest Actions in the Eastern Livestock Company Failure
On Friday, USDA-GIPSA charged Eastern with a number of violations.
Recommendations from Iowa Cattlemen Regarding Eastern
Steps to take if you've sold cattle to Eastern Livestock LLC.
Analysis: Eastern Livestock Bond Not Worth Much
The recent case of Eastern Livestock’s receivership proceedings, filed last week under pressure from Fifth Third Bank, is shedding some light on the dark corners of the beef industry.
Large Cattle Buyer on the Skids
The apparent failure of the country’s biggest order buying firm has got the cattle business a buzz, but rumors are much easier to find than to verify.
Bond Information for Those Who Sold to Eastern Livestock
The U.S. Department of Agriculture's Grain, Inspection, Packers and Stockyards Administration is informing cattle producers who have done business with Eastern Livestock Company, LLC, of their rights under the bond provisions of the Packers and Stockyards Act.
Related Story: Bouncing Bad Checks and Bad Guys
What should you do if someone writes you a bad check?
Read Steve Cornett's blogs on the subject:
Eastern Livestock’s Bond
What do we really know about the bonds that cover cattle sales and trades?
Don’t Blame FDIC for Eastern Livestock’s Problems
The FDIC thing was plumb wrong. After talking to the folks at FDIC, they say they don’t even regulate Fifth Third Bank.
What Caused Eastern Livestock’s Problem?
Some estimates who Eastern handles 10%-15% of the stocker and feeder cattle selling in the U.S. every year, and probably a higher percentage than that during the fall run. So what is really going on?
