Hot Wire Cattle Management & Agridime Ponzi Scheme News

We go over the pros and cons of hot wire pasture grazing versus traditional barbed wire.  Plus, an update on the cattle Ponzi scheme that everyone has been asking about.  We have news, markets and lots more on this all new episode of the Ranch It Up Radio Show.  Be sure to subscribe on your favorite podcasting app or on the Ranch It Up Radio Show YouTube Channel. EPISODE 187 DETAILS   Cattle Management: Hot vs Barbed Wire. Agridime Cattle Ponzi Scheme Latest News   ELECTRIC HOT WIRE VS. BARBED WIRE Maximizing Agricultural Efficiency: The Advantages of Rotational Grazing Rotational grazing offers numerous benefits for sustainable farming. By moving livestock between paddocks according to a strategic schedule, farmers allow forage crops to rejuvenate, replenish energy reserves, and enhance plant vigor, leading to long-term maximum production. The key to a successful rotational grazing system lies in its flexibility. Utilizing a highly-movable temporary fence and understanding its proper use are crucial for maximizing the benefits and maintaining an efficient grazing routine. Optimize Your Grazing Strategy Implementing a well-designed rotational grazing system can lead to healthier livestock and more productive land. Explore the essentials of rotational grazing and discover how to enhance your agricultural practices for sustainable success.   A Comprehensive Guide to Temporary Electric Fence Wires: Polywire vs. Polytape When it comes to temporary electric fencing, two main types are available: polywire and polytape. Both options consist of fine metal filaments intertwined with polyethylene or polypropylene fibers, with the metal providing the shock and the plastic ensuring strength and visibility.   Choosing the Right Polywire for Your Needs For short-distance applications, such as subdividing a pasture, a six-strand polywire is typically sufficient. However, for longer distances or areas prone to overgrowth from weeds and grass, opt for a polywire that delivers a stronger shock to ensure effective containment.   The Benefits of Polytape Polytapes are known for their superior visibility, particularly in white. If you're experiencing inadequate animal control with polywire or need better visibility for safety reasons, such as fencing for horses, switching to polytape can be beneficial. Although polytape may be more expensive, the improved control and visibility often justify the cost.   Essential Tools: Electric Fence Reels For ease of use and flexibility, especially if you plan to adjust paddock sizes frequently, an electric fence reel is indispensable. These reels, made from weather-resistant plastic, can hold one to two spools of polywire or polytape, making it easy to move and reconfigure your temporary fencing as needed.   Explore the best practices for using polywire and polytape to optimize your temporary electric fencing system, ensuring maximum efficiency and control for your livestock management.    Cattle Industry News: Agridime Ponzi Scheme, NCBA response to Farm Bill, TSCRA Relief Fund   AGRIDIME: NORTH DAKOTA GROUP MAY BUY CATTLE COMPANY THAT OWES MILLIONS According to the Bismarck Tribune, Jeff Beach/North Dakota Monitor, a North Dakota rancher said he is working on a deal for a small group of investors to take over a cattle and beef marketing business that was labeled a Ponzi scheme and owes North Dakotans millions of dollars. Wylie Bice, who ranches near Killdeer, said the group is close on a final price for Texas-based Agridime, with the goal of making it an asset to North Dakota ranchers. Bice said he hopes the group can close on a deal by July 1 to take over Agridime facilities in Texas, Arizona and Kansas. He told the North Dakota Monitor he hopes North Dakota can supply about 60% of the cattle that the business will need -- about 10,000 head per year. Bice, who is among the investors who lost money with Agridime, said the group includes a former business partner of his who is in Texas and would come out of retirement to help manage the company. In December, the Securities and Exchange Commission accused the company of operating as a Ponzi scheme by taking money from new investors to pay off previous investors instead of investing that money into cattle. The cattle were to be fed until reaching market weight and then processed. Agridime would then market the meat directly to consumers. A court-appointed receiver has been trying to determine what assets remain for the company that owes millions of dollars to investors and cattle producers in 14 states. In the first quarterly report, posted May 1 on the Agridime.com website, the receiver, Steven Fahey of Texas, said it was involved in “serious discussions with a North Dakota-based investor group.” The group would purchase the assets of the company, including the remaining meat and cattle inventory. The report said a sale could be submitted for court approval by mid-June. The retail and wholesale meat business would continue under the American Grazed Beef name. Meat sales were moved from the Agridime site to a site using the American Grazed Beef name. Bice said it was not likely to move any operations to North Dakota, instead using the existing warehouses in Texas, Arizona and Kansas that are closer to large retail markets such as Dallas-Fort Worth and Phoenix. “I like the concept of it,” Bice said. “Their online plan was really good.” While operating as American Grazed Beef, “The company has been doing pretty decent for just idling along,” Bice said. The report notes that the number of Agridime employees has dropped from 83 to 40 while under receivership. More bang? Bice said it is possible the company could again involve Taylor Bang. Bang is a longtime cattle broker from Killdeer who also operated as a sales agent for Agridime. “He’s a very good salesman, and I sure hope he can stay involved with us,” Bice said. The North Dakota Securities Department said Bang earned $6 million in commissions from unregistered cattle investment contracts through Agridime. Bang told the North Dakota Monitor in December that the figure was “way high.” Agridime offered people the chance to invest in the cattle industry, offering returns of as much as 30% without having to do the work involved with raising and marketing cattle. Agridime said the money would be invested in calves that would be raised for beef sales. But investors were not actually buying cattle or given information, such as ear tag numbers, about the calves they were investing in. The Securities and Exchange Commission said in its complaint that Agridime executives started using that investment money for other purposes instead of investing in cattle, turning the operation into a Ponzi scheme. A Securities Department official estimated that North Dakotans have lost about $40 million in Agridime investments. The quarterly update also includes lists of transactions, assets and creditors, though addresses are not included with the creditors. The creditors list includes Bice and Bang and several others with the last name Bang. North Dakota Agriculture Commissioner Doug Goehring said that while Agridime’s license to buy cattle in the state has been revoked, Bang still has a license to broker cattle as an individual. Goehring said he thought the idea of buying out Agridime was “odd.” “Why would you not just start over?” Goehring wondered. Bice said money from the sale of the company would go to paying off creditors. If there is no deal, the receiver said it would likely submit a liquidation plan by July 31. Bice said he has visited the Agridime facilities and is excited about the possibility. “Usually, I’m invested in stuff I know nothing about,” Bice said. “I know something about this.” Other developments Assets: The May 1 update from the receiver says, as of March 31, there were about 3,387 head of cattle on feedlots in several states. The receiver in February said there were about 6,500 head of Agridime-owned cattle. The update notes that “records as to the quantity and location of its cattle were sparse and poorly maintained.” The update says there were about 841,000 pounds of beef stored at Agridime’s warehouses in Arizona, Kansas and Texas as of March 31. Lawsuit: Another federal agency announced May 14 that it is taking legal action against Agridime. The Commodity Futures Trading Commission said it has filed a civil enforcement action in the U.S. District Court for the Northern District of Texas against Agridime and its founders, Joshua Link and Jed Wood. The CFTC said it is seeking restitution for defrauded customers, civil penalties, trading bans, and a permanent injunction against further violations of the Commodity Exchange Act and the agency’s regulations. The CFTC says Agridime received more than $161 million from over 2,000 customers in 14 states. That is $30 million less than the SEC’s estimate of $191 million in its complaint filed in December. Judgment: The Securities and Exchange Commission in April obtained a judgment on Link and Wood that prevents them from selling securities. The SEC will determine a civil penalty in the future. NCBA COMMENDS HOUSE AGRICULTURE COMMITTEE FOR PASSING FARM BILL The National Cattlemen’s Beef Association (NCBA) thanked the House Agriculture Committee for passing the next Farm Bill, known as the Farm, Food, and National Security Act of 2024. This Farm Bill includes top priorities for cattle farmers and ranchers including cattle health, voluntary conservation, and food security provisions.   “Cattle producers are thankful that the House Agriculture Committee has advanced a Farm Bill that delivers on the needs of rural America,” said NCBA President and Wyoming rancher Mark Eisele. “This Farm Bill protects the cattle industry from foreign animal disease, supports producers’ voluntary conservation efforts, and safeguards our food supply, recognizing that our food security is national security. On behalf of cattle farmers and ranchers across the country, thank you to Chairman Thompson and the House Agriculture Committee for passing this bill. I hope the full House will take the next step and pass this bill soon.”     TSCRA DISASTER RELIEF FUND DISTRIBUTES $900,000 Texas & Southwestern Cattle Raisers Association has announced the distribution of $900,000 in financial assistance through the TSCRA Disaster Relief Fund. This signifies the first of ongoing financial assistance going directly to cattle raisers impacted by the largest wildfire in Texas history.  “Funds are on the way to ranching families affected by these fires, and we will continue to quickly distribute much more funding to those in need for as long as it takes to help them to rebuild,” said TSCRA President Carl Ray Polk Jr. The distribution of funds comes after thousands of individuals and businesses came together to generously donate to the TSCRA Disaster Relief Fund in support of cattle raisers facing staggering losses. Recent data from the Texas A&M AgriLife Extension Service estimates the region faced agricultural losses totaling $123 million. This includes losses of livestock, equipment, fencing, hay, feed and more. The TSCRA Disaster Relief Fund continues to accept applications for financial aid from landowners and cattle raisers in disaster-declared counties in Texas and Oklahoma. BULL SALE REPORT & RESULTS Churchill Cattle Company Van Newkirk Herefords Gardiner Angus Ranch Cow Camp Ranch Jungels Shorthorn Farms Ellingson Angus Edgar Brothers Angus Schaff Angus Valley Prairie Hills Gelbvieh Clear Springs Cattle Company CK Cattle Mrnak Hereford Ranch Frey Angus Ranch Hoffmann Angus Farms Topp Herefords River Creek Farms Upstream Ranch Gustin’s Diamond D Gelbvieh Schiefelbein Farms Wasem Red Angus Raven Angus Krebs Ranch Yon Family Farms Chestnut Angus Eichacker Simmentals & JK Angus Windy Creek Cattle Company Pedersen Broken Heart Ranch Mar Mac Farms Warner Beef Genetics Arda Farms & Freeway Angus Leland Red Angus & Koester Red Angus Fast - Dohrmann - Strommen RBM Livestock Weber Land & Cattle Sundsbak Farms Hidden Angus Wheatland Cattle Company Miller Angus Farms L 83 Ranch U2 Ranch Vollmer Angus Ranch A & B Cattle Carter Angus Farms Roller Ranch Montgomery Ranch Jorgensen Farms DLCC Ranch Four Hill Farm North Country Angus Alliance Spruce Hill Ranch Wilson Angus   FEATURING Trevor Burian @hungrymanbutte Mark VanZee Livestock Market, Equine Market, Auction Time https://www.auctiontime.com/ https://www.livestockmarket.com/ https://www.equinemarket.com/ @LivestockMkt @EquineMkt @AuctionTime Kirk Donsbach: Stone X Financial https://www.stonex.com/   @StoneXGroupInc    Shaye Koester Casual Cattle Conversation https://www.casualcattleconversations.com/ @cattleconvos   Questions & Concerns From The Field? Call or Text your questions, or comments to 707-RANCH20 or 707-726-2420 Or email [email protected] FOLLOW Facebook/Instagram: @RanchItUpShow SUBSCRIBE to the Ranch It Up YouTube Channel: @ranchitup Website: RanchItUpShow.com https://ranchitupshow.com/ The Ranch It Up Podcast available on ALL podcasting apps.   Rural America is center-stage on this outfit. AND how is that? Tigger & BEC Live This Western American Lifestyle. Tigger & BEC represent the Working Ranch world and cattle industry by providing the cowboys, cowgirls, beef cattle producers & successful farmers the knowledge and education needed to bring high-quality beef & meat to your table for dinner. Learn more about Jeff 'Tigger' Erhardt & Rebecca Wanner aka BEC here: TiggerandBEC.com https://tiggerandbec.com/ #RanchItUp #StayRanchy #TiggerApproved #tiggerandbec #rodeo #ranching #farming References https://www.stonex.com/ https://www.livestockmarket.com/ https://www.equinemarket.com/ https://www.auctiontime.com/ https://gelbvieh.org/ https://www.imogeneingredients.com/ https://alliedgeneticresources.com/ https://westwayfeed.com/ https://medoraboot.com/ http://www.gostockmens.com/ https://www.imiglobal.com/beef https://www.tsln.com/ https://transova.com/ https://axiota.com/ https://www.ncba.org/ncba-news/news-releases/news/details/38087/ncba-commends-house-agriculture-committee-for-passing-farm-bill https://www.meatingplace.com/Industry/News/Details/114701 https://www.newsfromthestates.com/article/north-dakota-group-may-buy-cattle-company-owes-millions https://www.newsbreak.com/news/3450098136374-north-dakota-group-may-buy-cattle-company-that-owes-millions https://bismarcktribune.com/news/state-regional/business/north-dakota-agridime-ponzi-scheme-wylie-bice-taylor-bang/article_943a4a10-187d-11ef-9a29-ff8a65ed8891.html?utm_campaign=snd-autopilot&utm_medium=social&utm_source=facebook_The_Bismarck_Tribune&fbclid=IwZXh0bgNhZW0CMTEAAR2kAXTx8NoqXUawFsrK89STkUL8uymYE_8miV-G5_rWBSo9mQWRl5WTHcg_aem_AfULgMLBH2t4F03uEk6hZEAD4yBbtv7EMQyzIylwwGCCLDKIrIh6qKqwKt6mR9WfvoK5-CiyXYkoxEACuT5k_2FY https://hpj.com/2024/05/24/tscra-disaster-relief-fund-distributes-900000/