User uShare Login | Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.

74° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options


TEMPERATURE LOCATION | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Back to all news


Find local businesses
on the KELO Pages!


Yankton Livestock Auction Settles USDA Complaint

March 18, 2014, 3:57 PM


The Yankton Livestock Auction Market has agreed to pay $2,000 as part of a settlement in a federal complaint that argues the South Dakota group had custodial account shortages.

Each market agency selling livestock on commission, such as Yankton Livestock, must maintain a so-called custodial account that benefits livestock consignors.

The provision was established through the federal Packers and Stockyards Act. The 1921 law was designed to prevent conflicts of interest and market manipulation.

A shortage in a custodial account occurs when the total credits exceed the total debits of the custodial account. Operating with a shortage is a federal violation.

Yankton Livestock has neither agreed nor denied its guilt by agreeing to settle the U.S. Department of Agriculture's complaint.

Previous Story

Next Story

Find Local Businesses on KELO Pages!

View agriculture

You may also like

Crop Conditions Good Despite Week With Little Rain

7/21/2014 4:33 PM

Crop conditions in South Dakota were reported mostly good to excellent despite a week with little rainfall.

Full Story
Friday Ag Markets

7/25/2014 1:09 PM

Here's a look at agriculture markets as of noon Friday:

Full Story
Tuesday Ag Markets

7/22/2014 1:17 PM

Here's a look at agriculture markets as of noon Tuesday:

Full Story
Thursday Ag Markets

7/24/2014 1:15 PM

Here's a look at agriculture markets as of noon Thursday:

Full Story
Wednesday Ag Markets

7/23/2014 1:10 PM

Here's a look at agriculture markets as of noon Wednesday:

Full Story