Livestock producers owed $1.2 million by a Saskatchewan auction mart say they want a fund that protects them from future losses.
Mark Szakacs, a Kipling, Sask., producer, said 128 producers were not paid when Arcola Livestock Sales abruptly shut down earlier this year.
“Three farms are facing foreclosure because of this,” Szakacs said last week. “There is no chance of getting the money back.”
He tried to cash a cheque for the 42 calves he took to auction, but could not.
“(The proceeds were) supposed to pay last year’s line of credit,” he said.
Read Also

Why feds imposed EV tariffs
Moe and Kinew have a fight on their hands when it comes to eliminating the EV tariff. Canada has to worry about pissing off the U.S. and Mexico and hundreds of thousands of auto workers.
Two producers in the Redvers area are owed $110,000 each. Others are owed smaller amounts.
Speaking for the 128 producers, Szakacs said they want the province to establish some type of assurance fund to protect them in the future.
Agriculture minister Clay Serby has already asked a committee to examine the idea. The Saskatchewan Stock Growers Association at its convention in June passed a resolution to do the same.
And, the Agricultural Producers Association of Saskatchewan has also called for a fund.
Szakacs said the group of 128 looked at Alberta’s fund and would like something similar. That fund is based on a check-off.
Szakacs said a six-cent checkoff is a small price to pay for insurance.
He also said he has discussed with the minister’s office the possibility that the province could put money into an account to pay the 128 producers. It would be considered a loan and the checkoff could be used to pay it back.
An agriculture department spokesperson was unavailable July 25 to comment on that possibility.
“We’re considering seeing a lawyer as a group, to see if we have to take legal action,” Szakacs added.
The owners of Arcola Livestock have said they were unable to pay the producers because an American buyer did not pay them for a $2.3 million purchase.