Rabo Agrifinance is accusing the business surrounding a Kentucky cattle producer who died in April and his two Texas feedyards of engaging in a fraud that drained its bank accounts and cleared out tens of thousands of cattle from the feedyards, leaving Rabo with roughly $50.6 million in unpaid loans. The operation s collapse may have affected dozens of other cattle producers as well.
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Rabo Agrifinance is accusing the business surrounding a Kentucky cattle producer who died in April and his two Texas feedyards of engaging in a fraud that drained its bank accounts and cleared out tens of thousands of cattle from the feedyards, leaving Rabo with roughly $50.6 million in unpaid loans. The operation s collapse may have affected dozens of other cattle producers as well.
Bank failures, and the related uncertainty in financial markets, only add to the bearish pressures of better weather forecasts and high expenses. That has some farmers and experts forward contracting more of their crop than normal for this time of year.