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KayDee Gilkey Livestock Marketing Association’s Recent Legislative Win
by KayDee Gilkey, click here for bio

Program: Land & Livestock Report
Date: February 16, 2017

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While at the recent Cattle Industry Convention in Nashville Field Reporter Tom Allen took the opportunity to visit with Livestock Marketing Association’s Vice President Government and Industry Affairs Chelsea Good shares more about bill that was passed that helped to modernize the Packer and Stockyard Act that was created in 1921.

Good: “We made a couple of tweaks that were very consensus based to try and modernize and bring that law into the 21st century. First was just recognizing video and online auctions. That the same rules that apply to your fixed facility in terms of prompt payment and having a custodial account — those things that protect your producers — those apply when you are selling online and video auctions as well. A lot of our online auctions already had gotten registered and had a custodial account and were doing those things but USDA didn’t know how they fit into the system. We wanted to clarify that they do fall under this law. We also made an adjustment in terms of how payment can be made. The people that are covered by the law are your packers, your livestock dealers and your markets. They have to pay promptly but the law required a check in the mail by the close of the next day. We clarified that ACH or other modern electronic forms of payment are also permissible. So it was a big first step towards bringing that law into the 21st century. Probably additional improvements could still be made, but it was great to have that win.”

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