- Source: Magicvalley
The outcome of a lawsuit between a defunct Buhl dairy and Farmers National Bank has some area farmers worried.
Specifically, local dairymen fear an attempt by a group of feed sellers to recoup loans from a bankrupt dairy will make it more difficult to borrow money.
“It has the potential to lower the value of what you can borrow based on cattle,” said Bob Naerebout, executive director of the Idaho Dairymen’s Association.
When a dealer sells an agricultural product, like feed, a lien is created on the sold product. The question is whether Idaho law (Idaho Code 45-1802) states a lien by a feed seller attaches only to the actual feed sold, or if it also attaches to the livestock that eat the feed.
Read more at: magicvalley.com