Jamestown Livestock has paid a $2,500 penalty to USDA for violating the Packers and Stockyards Act. USDA’s Agricultural Marketing Service determined the North Dakota company failed to maintain its custodial account, resulting in shortages of nearly $58,000 on May 28th and nearly $16,000 on June 30th of last year. Jamestown Livestock failed to reimburse this trust account for purchases and uncollected receivables. That puts livestock sellers at risk of not being paid on a timely basis or at all.
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