The U.S. Department of Agriculture’s (USDA) Agricultural Marketing Service (AMS) is notifying anyone who sold livestock to and has not received payment from McClain Farms Inc., 7M Cattle Feeders Inc., McClain Feed Yard Inc., or Brian McClain, to file Dealer Trust claims promptly.
Unpaid livestock sellers may be protected under a provision of the Packers and Stockyards Act of 1921, which requires all livestock purchased by a dealer in cash sales, and all receivables or proceeds from such livestock, to be held in trust for the benefit of all unpaid cash sellers.
Unpaid sellers must act quickly, as the law requires that claims be filed with USDA and McClain within 30 days after payment is due, or within 15 business days after a payment instrument issued to the livestock seller has been dishonored. Claim amounts should be for the gross amount McClain agreed to pay for livestock.
Claims should be submitted to Agricultural Marketing Service, Fair Trade Practices Program, Packers and Stockyards Division, Midwestern Regional Office, 210 Walnut Street, Room 317, Des Moines, IA 50309. Claims may also be emailed to PSDDesMoinesIA@usda.gov.
For questions regarding the claims process, contact the PSD Midwestern Regional Office at 515-323-2579.
Source: USDA's AMS
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