The U.S. Department of Agriculture (USDA) entered into a stipulation agreement with Anderson County Livestock Exchange LLC., (ACLE), located in Texas, on Dec. 19, 2022, for alleged violations of the Packers and Stockyards (P&S) Act. Under the terms of the stipulation, ACLE waived its rights to a hearing and paid a penalty of $4,000.
An investigation by USDA’s Agricultural Marketing Service (AMS) revealed that ACLE had custodial account shortages on Nov. 12, 2021, and Dec. 21, 2021, of $374,960 and $382,140, respectively. Both custodial account shortages occurred because ACLE failed to reimburse the custodial account timely for receivables.