LIVESTOCK MARKETING INSURANCE AGENCY, INC.
OVERLAND PARK, KS

About Livestock Marketing Insurance Agency As a valuable member of the livestock marketing industry, you’re used to taking risks. We understand the nature of your business because the Livestock Marketing Insurance Agency (LMIA) has a vested interest in the livestock marketing industry, as a wholly owned subsidiary of Livestock Marketing Association. LMIA has a long history of providing broad, comprehensive insurance products to livestock marketing businesses and related industries. Since pioneering the concept in 1961, LMIA has become the nation’s leader in providing bond coverage and designing insurance protection exclusively for livestock markets and dealers to respond to their unique exposure. Interested in managing the risk of payment defaults from buyers? Contact your Region Executive Officer to discuss the PAYS product! The sale of livestock is a big business and with all business comes risk. LMA PAYS helps LMA members protect their interests and their consignors by staying informed about the trade reputation and financial responsibility of their customers. When LMA members contact PAYS they find courteous staff that understands their business and is recognized by many Ag lenders for their work with the livestock marketing industry. The experience and reputation of the LBT helps LMA members get the information they need to make vital business decisions. LMA members also have access to the PAYS’ massive database of information that includes over 115,000 files of information received from LMA members, trade sources and financial institutions. Contact PAYS for a customized Buyer Registration and Consent Agreement. These forms, designed specifically for your business will assist PAYS in getting information to you in a timely manner and navigate the web of banking and privacy laws that can slow the inquiry process. All livestock marketing businesses are required to keep an updated tariff on file with the Packers & Stockyards Administration. PAYS can greatly simplify this process by helping LMA members create and file their tariffs with the P&S. Contact LBT today at (800) 821-2048 for more information. , President of PAYS and Vice President of Livestock Marketing Insurance Agency. She may be contacted at Interested in managing the risk of payment defaults from buyers? Contact your Region Executive Officer to discuss the PAYS product! The sale of livestock is a big business and with all business comes risk. LMA PAYS helps LMA members protect their interests and their consignors by staying informed about the trade reputation and financial responsibility of their customers. When LMA members contact PAYS they find courteous staff that understands their business and is recognized by many Ag lenders for their work with the livestock marketing industry. The experience and reputation of the LBT helps LMA members get the information they need to make vital business decisions. LMA members also have access to the PAYS’ massive database of information that includes over 115,000 files of information received from LMA members, trade sources and financial institutions. Contact PAYS for a customized Buyer Registration and Consent Agreement. These forms, designed specifically for your business will assist PAYS in getting information to you in a timely manner and navigate the web of banking and privacy laws that can slow the inquiry process. All livestock marketing businesses are required to keep an updated tariff on file with the Packers & Stockyards Administration. PAYS can greatly simplify this process by helping LMA members create and file their tariffs with the P&S. Contact LBT today at (800) 821-2048 for more information. , President of PAYS and Vice President of Livestock Marketing Insurance Agency. She may be contacted at The trade and sale of livestock has been a fixture throughout history; helping to shape the way people live and the growth of the United States. Changes in technology and convenience to livestock producers have impacted the way livestock are marketed but the importance and viability of the auction has remained strong throughout the years. Imagine the year 1811 in Louisville, Kentucky. The industrial revolution was in full swing and the Terminal River Markets like the Bourbon House and Stockyards are situated to take advantage of steamboat transportation. By the year 1876, steamboats had given way to the Railroads and the great cattle drives of the west were filling an endless supply of railcars with cattle headed for Terminal Markets in cowtowns like Kansas City, Omaha, St. Louis, Denver and Chicago and lesser known but equally important markets in New York City, Baltimore, Atlanta, Los Angeles and Seattle. The Terminal Auctions were the first forum for competitive livestock marketing; establishing value with publicly reported daily market prices. For the better part of a century the Terminal markets were a central location for commission firms to negotiate deals between the producer and packer. In 1936 trucks began coming off of the assembly lines in Detroit, Michigan, headed for rural America and another shift in the way livestock was transported. With the advent of trucking, producers finally had a choice of shipping their livestock to the distant terminal markets or supporting their local economy by selling at their local livestock auction market. The convenience of trucking and the cattlemen’s commitment to supporting their local livestock auction led to a rapid growth in the number of livestock auctions throughout the 1930’s. By 1947 we had entered Post War America. With a booming population the demand for a variety of high quality meat products exploded and livestock producers and auctions pushed to meet the demand. The original livestock packing houses that were located alongside the original terminal markets gave out and were forced to look for new locations to build state of the art facilities. The packing houses moved to the plains, where the feedlot industry was quickly expanding. With the move of the packing houses, fewer and fewer trains delivered livestock to the Terminal Markets. The local livestock auction markets emerged as the leaders in livestock sales through dedicated service to the livestock producers and their local community.