OMAHA (DTN) -- A deal three years in the making was completed Friday when Superior Livestock Auction Inc., was purchased by a limited partnership formed by National Livestock Credit and 31 cattlemen from several states.
Danny Jones, president of Superior Livestock Auction, told DTN the purchase would have been completed sooner, but the bankruptcy of Eastern Livestock delayed finalization.
At the time of Kentucky-based Eastern Livestock Company's bankruptcy, Superior Livestock claimed the cattle brokerage owed it $19 million. That claim has been contested in court and the bankruptcy case is still ongoing.
DTN Livestock Analyst John Harrington said this partnership ...