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Parker Livestock Alleges Price Manipulation (Sep 10, 2012)

OKLAHOMA CITY (AP) - An Oklahoma livestock dealer is alleging in federal court that cattle prices are being illegally manipulated at the Oklahoma National Stock Yards.

A lawsuit filed Monday in U.S. District Court in Oklahoma City by Parker Livestock of Thomas alleges the stock yards and others are violating provisions of the Packers and Stockyards Act. The 1921 law is designed to prevent conflicts of interest and market manipulation.

The lawsuit says that, on March 12, the owner of Parker Livestock, John Parker, observed an auctioneer at the stock yards buying cattle, a violation of the federal statute. Parker says that when he complained, he was banned from auctions at the stock yards.

Robert J. Fisher Jr., president of the stock yards, did not immediately return a telephone call seeking comment.

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