Rancher
A fraudulent cattle scheme allegedly orchestrated by a Kentucky cattleman has left investors and a financial institution reeling under a $100 million loss.
Attorneys on Wednesday argued conflicting accounts of how a Mexican national came to be killed on an Arizona borderlands ranch. The rancher is due back in court on Friday.
Cash cattle markets traded modestly lower in another week of lackluster activity. Northern regions experienced adverse weather conditions added stress to cattle and reduced weights.
In just a few buck-wild months in 2015, a Texas grifter pulled off a swindle nearing $100M, and turned the cattle industry into his playground, stirring more cash than some of the largest beef companies in the U.S.
Every cowboy has a story about how choices his ancestors made resulted in the life they’re living today. Many of us are thankful for blessings we didn’t recognize as such at the time.
Packers were successful in filling their needs at steady money this week as wholesale beef prices moved lower. Feedyards were content to reduce showlists but remaining cattle are priced higher.
Cash cattle trade was called active with packers seeking to add inventory. Retailer buying was also active as they anticipate a seasonal slowdown in supplies.
In a discussion on AgriTalk, Ethan Lane discussed the group’s objections to the plan, and what alternatives could be.
The House Ag Committee passed the Cattle Contract Library Act of 2021 by unanimous vote on Thursday. Supporters say the act would give greater transparency to cattle markets and more leverage to producers.
Monday’s reveal of the Senate’s updated cattle market reform bill generated some strong opinions from a cross-section of industry stakeholders, but no consensus.