Washington, D.C., July 23, 2026 – On April 24, 2026, the U.S. Department of Agriculture (USDA) filed a complaint against Euclid Stockyards Inc. and Jeremy T. Gorham of Ontario, Calif., for alleged violations of the Packers and Stockyards Act (P&S) Act.
A USDA investigation revealed Euclid Stockyards and Gorham had custodial account shortages of $105,198 on Nov. 24, 2021, and $51,698 on Dec. 24, 2021, due to failure to reimburse the custodial account as required by the P&S Act.
A custodial account is a trust account required for handling proceeds from the sale of livestock. The market agency maintains the custodial account to benefit livestock sellers and must reimburse the account by the close of the next business day for purchases by the market, owners and officers, and any other buyer to whom the market agrees to extend credit. The market must also reimburse the account for any other uncollected receivables by the close of the seventh day following the livestock sale. Custodial account shortages and failing to timely reimburse a custodial account are violations of the P&S Act and regulations.
The Secretary of Agriculture has authority to take action against violators, including issuing cease and desist orders, suspending registrations, and imposing other remedies authorized by the P&S Act.
For more information, contact Amy Blechinger, Packers and Stockyards Division, at (202) 720-7051 or Amy.R.Blechinger@usda.gov.
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