eastern livestock scam
jdbeavers

Smyrna, SC

#22 Nov 20, 2010
WORRIED wrote:
SORRY TYPE OH. I WANTED TO SAY THEY HAVE BEEN BUYING CATTLE FOR YEARS.
Judging from the typing,and comments I've read so far you really shouldn't be making fun of anyone. They evidently don't have basic education classes in TN. You might consider commuting to Kentucky. They have some of the best rated College's in the US. That is, if you completed grade school.
packers and stockyards

Pine River, MN

#23 Nov 21, 2010
the packers and stockyards is a joke ,you would think they change bond regulations just a little. 40 million john morcon,spring grove minnisota 900000 peace livestock edgewood ia 2500000 jack connery mississippi valley livestock dubuque ia and many many many more
PnS drops the ball

Detroit, MI

#24 Nov 21, 2010
Agree completley with the guy who wins the stockyard. We have one here in Alabama. P&S picks hard in the small guys. Always some report to send in. They've made us up our bond 4 times in the laser few years. Has to be enough to cover the largest amount of cattle handled in a year. But they let the big boys run free. An $875,000 bond is a joke when they handle that much stock. They stuck every barn around here. Some for several hundred thousand. We are a small barn and what they got from us won't kill us but let's just say rough Christmas and there may be a second mortgage. People don't realise what risk and liability a stockyard has. And they sure don't collect enough in commission to start to cover something like this. I hope you guys in Tn. Appreciate your stockyards and there owners more than they do down here. Try saying thank you for a job well done sometime yes it's our job but it's still nice to hear. As far as wire transfers and checking with the bank that's not so easy under P&S guidelines a order buying com. has 7 days to pay a stockyard. Trying to get the money sooner is something everyone is looking into but the buyers aren't being very receptive. Kind of a pickle no auction without a buyer. But could end up no auction at all.
catwoman

Walterboro, SC

#25 Nov 22, 2010
Were is a good trust worthy place now to sale your cattle...Does anybody have any good ideas..""What are farmers to do""
chris Clayton

Omaha, NE

#26 Nov 22, 2010
Melvil wrote:
They got 2 guys in Newport, Tn for $300 thousand. The guy that owns Eastern went broke in the 70's, this is not the first time folks.
I'd like to hear more about this situation. If you could email me, I'd appreciate any background information you could provide. [email protected] ag policy editor for DTN.
stockeroperator

United States

#27 Nov 23, 2010
People gripe abut paying stockyard commissions, but a producer actually buys an additional level of risk management when selling through a stockyard. In my area, producers were all paid by our stockyard and the yards is now trying to recoup THEIR money from Eastern. Makes that commission look pretty reasonable now, doesn't it? Why would someone sell direct to save a few $$ commission when true price discovery happens in a sale ring and it is safer financially?
free at last

Elizabethton, TN

#28 Dec 7, 2010
hey I dont hear many market operators talking about all the money Eastern made for them when they were rolling big, all of them here wanted the big "E" at their market and made everyone money, Market people , traders, farmers, truckers,etc.,etc. Eastern made the cattle business here in this part of the country for us. they are the ones who really made the cattle high and people took interest. I saw it first hand and have set in the sale barns as a independant. sometimes coming in empty. They could pretty much buy 'em all. Sometimes they almost did in fact do just that. It was a big old pie and it got spread around pretty good in our neck of the woods. A number of boys up here made a good bit. I cant even remember honestly how many semis rolled outta here on Wedensdays when the KLC in Knoxville was booming bound for Culleoka. Lotta boys in a five mile radius of me trucked it up and made money that kept the homeplace home. The traders, not enough ink to tell how money was made by this group. I'm not a hypocrite I got pretty good at bringing my check to the bank on Thursday morning. I hear people saying how much theyve lost, bigger part of us dont realize how much they have made us over these years by being in the game. I'm not justifying what they have done....but I'm not casting stones either. I'm tired and am not gonna edit this, forgive me for any gramatical errors. hope everyone gets paid for their cattle. RIP big "E". thanks from a country boy
rustifer

United States

#29 Dec 16, 2010
Ripped Off wrote:
Eastern Livestock,LLC .....Biggest cattle scam of the century. They have bad checks or owe for cattle from North Carolina and Virginia to the Great Plains. Folks this could bleed over to Livestock Markets and Stockyards. If they have bad checks or Eastern has not paid, then someone is going to have to dig deep in their (livestock markets and stockyards owners) pockets to cover this loss from Eastern.
This isn't the biggest cattle scam in this century. Have we all forgotten George Young?? It will take years (attorneys will get rich) and you will get a very small percentage back of what you are owed.....figure you will get zero back for cash flow purposes. Hate to be so blunt, but that's what's going to happen. I'm speaking from my George Young experience.
farmers wife

Walterboro, SC

#30 Dec 16, 2010
We have a load of calves ready to be sold..where is a good place to sale now...
dick tracy

Monroe, TN

#31 Dec 16, 2010
Stacy Browning in Lafayette.Very honest. Or the barn in Cookeville.
farmers wife

Walterboro, SC

#32 Dec 19, 2010
dick tracy wrote:
Stacy Browning in Lafayette.Very honest. Or the barn in Cookeville.
Thanks for the reply...I know this is a question that alot of farmers are asking where is a honest place to sale their cattle..Where in Lafayette is Stacy located?
scam

Miami, FL

#33 Dec 20, 2010
farmers wife wrote:
We have a load of calves ready to be sold..where is a good place to sale now...
Carthage Tennessee.Crossville is not the place to go the main man out there is Eastern,better shy away from there.
Alabama guy

Altoona, AL

#34 Dec 27, 2010
Arab Livestock Market in Arab Alabama has a outstanding video sale
News here

Fort Lauderdale, FL

#35 Jan 7, 2011
The Court has a Trustee over Eastern Livestock He is from Indiana, and operating from Eastern's office. He has already said the computers have been purged, with valuable information. Dont suprise me! He has a blog that is updated as information is available. Here is the link. www.easternlivestockbkinfo.com/trustees-blog....
Saddened by all this

Philadelphia, PA

#36 Feb 24, 2011
I am from Lanesville, and know some of the principals in Eastern Livestock. I have been helped by this family for the 10 years I have lived there and the last thing I would have ever suspected is the situation they have gotten themselves in. Really a shocker and really a sad situation for so many and such financial hardships they have created.

Stunned and on the road in PA - Doc
Buyers being sued

Manassas, VA

#37 Apr 3, 2011
scam wrote:
<quoted text>Carthage Tennessee.Crossville is not the place to go the main man out there is Eastern,better shy away from there.
Ole Gary has been hammering everybody else in Crossville with those big Eastern orders for years.I just read that they're going after the buyers now because Tommy and Patsy sent checks to principle buyers at BK time.A buyer in Tennessee got a 20.4 million dollar check that they're going after.I wonder if thats the money he was going to absorb for Knoxville Livestock center?Someone may have to cough that money up now.
ha ha

Manassas, VA

#38 Apr 10, 2011
free at last wrote:
hey I dont hear many market operators talking about all the money Eastern made for them when they were rolling big, all of them here wanted the big "E" at their market and made everyone money, Market people , traders, farmers, truckers,etc.,etc. Eastern made the cattle business here in this part of the country for us. they are the ones who really made the cattle high and people took interest. I saw it first hand and have set in the sale barns as a independant. sometimes coming in empty. They could pretty much buy 'em all. Sometimes they almost did in fact do just that. It was a big old pie and it got spread around pretty good in our neck of the woods. A number of boys up here made a good bit. I cant even remember honestly how many semis rolled outta here on Wedensdays when the KLC in Knoxville was booming bound for Culleoka. Lotta boys in a five mile radius of me trucked it up and made money that kept the homeplace home. The traders, not enough ink to tell how money was made by this group. I'm not a hypocrite I got pretty good at bringing my check to the bank on Thursday morning. I hear people saying how much theyve lost, bigger part of us dont realize how much they have made us over these years by being in the game. I'm not justifying what they have done....but I'm not casting stones either. I'm tired and am not gonna edit this, forgive me for any gramatical errors. hope everyone gets paid for their cattle. RIP big "E". thanks from a country boy
They're always easier to buy when you don't plan on paying for them.
Maybe

Amarillo, TX

#39 Jun 21, 2011
Hopefully this gets resolved for all concerned.
Still sad

Louisville, KY

#40 Feb 13, 2012
More livestock
Still sadder

United States

#41 Feb 13, 2012
How come?

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