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Agricultural News

Federal Lawsuit Alleges Oklahoma National Stockyards Manipulated Cattle Prices

Mon, 10 Sep 2012 15:05:57 CDT

An Oklahoma livestock dealer has filed a federal lawsuit alleging that cattle prices are being illegally manipulated at the Oklahoma National Stockyards.

The suit was filed in U.S. District Court in Oklahoma City on Monday on behalf of Parker Livestock of Thomas. The suit alleges the stockyards and other agents are violating the Packers and Stockyards act of 1921. The law was designed to combat market manipulations and conflicts of interest.

John Parker, the owner of Parker Livestock, alleges in the suit that he observed an auctioneer buying cattle on March 12, 2012, which is prohibited by federal law. Parker's suit maintains he was banned from auctions at the stockyards when he complained.

The Associated Press attempted to contact Robert J. Fisher, Jr., president of the Oklahoma National Stockyards, but he was unavailable for comment.

(Information provided by the Associated Press)



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