Livestock Auction Sued by 4 Firms

Article excerpt

Four Oklahoma livestock companies are suing the Oklahoma City Livestock Exchange for expelling them from the exchange because they are joining a new livestock exchange in El Reno, the companies said.

The four firms, Brown Commission Co., Coit Commission Co. Cooper Livestock Commission Co. and Simms Commission Co., filed a lawsuit in U.S. District Court for the Western District in Oklahoma City.

The firms claim the exchange rules discriminate against them because of their prospective involvement in other markets.

"The sole reason for the (four companies') expulsion from the exchange is their association with the new planned stockyards in El Reno: OKC West," the lawsuit stated.

The four companies are asking the court to temporarily stop the Oklahoma City Livestock Exchange and any of its officers from performing any action affecting the four companies' access to the exchange's services. The petition asks the court to subsequently issue a permanent injunction to stop the Oklahoma City Livestock Exchange from altering the four companies' access to its services.

The Oklahoma City Livestock Exchange acts as both a market agency - a furnisher of stockyard services - and a stockyard owner - an operator of a portion of the stockyards where live cattle, sheep and other livestock are received for sale - as those terms are defined by the Packers and Stockyards Act, the filing said. …