Market Mess

摘要

It may not be Bernie Madoff-level money, but to cattlemen across the nation who received rubber checks from Eastern Livestock, receiving nothing for a year's calf crop or their high-dollar feeder cattle threatens to wreck them far beyond any market crash. Cattlemen and livestock market operators began receiving unfunded Eastern Livestock checks last November. When the dust settled, Eastern owed cattlemen and cattle entities about $130 million, according to USDA's Grain Inspection, Packers and Stockyards Administration (GIPSA). The bankrupt company, headquartered in New Albany, IN, owes money to more than 700 cattle sellers in some 30 states.