branding required for bank financing??

[travellingcattleman]

I'm just curious if any banks require that the cattle on the note be branded (hot or freeze)? If some form of permanent marking is required, is there anything else that will work and be cost/time effective? Any states where this would be prevelant?

thanks

 

[Running Arrow Bill]

Don't know about what a bank requires. In our case, we'd never borrow money to buy livestock.

On the flip side, if one's cattle are worth anything and/or one's finances are between "tight and average" it would be good insurance to brand one's animals in case of theft.

Ear tags can be lost (or cut off by a thief). Otherwise, with cattle "all the same color" how does one tell if it's yours or someone elses?

 

[bigbull338]

if your going to get a loan to buy cattle.id check with the bank your doing the loan with an see what they require.i know my bank doesnt require cattle be branded.

 

[MikeC]

The banks I have dealt with don't care.

Now when and if NAIS gets cranked up, who knows what will happen?

 

[toby]

My brother is in the banking business and according to him they donot require branding. However, they are in favor of EID tags at least for cattle that are in feed lots. The reason is that they lend the operator money for a specific buy and when they go to check on the investment they have no way of knowing these are the cattle that they are on the hook for or someone eleses that are substituted on the day they come to visit. Like one of the other posts a pen full of 700# black calves look much alike.

 

[ENNOT]

I was looking into doing a loan on some cattle a few years ago and one of the bankers I was dealing with wanted me to go get a new brand to use on the cattle, with the banks name on the brand also. I am pretty sure you can figure out where I told him to go.

I have always paid cash for livestock, that's about the only way to keep yourself safe I think.

 

[CSM]

I would also say to stay away from the loans. As far as identification, ear tattoos work well.

CSM

 

[peg4x4]

Ear tattoos are hard to see from the other side of the fence-
where the banker would be standing..

 

[Oldtimer]

A lot of banks up here loan money to buy cattle- and then place a lien on the brand- especially if the buyer has no other collateral to put up...Montana is a brand state- and all cattle changing ownership must be brand inspected-- and the name on the check has to be the same as the brand is registered to including lien holders....So the lien holder (bank) has to cosign in order to cash the check...

They just take the check- and hand it over to his banker who then takes his payments out, and puts whats left (if its a profitable year) in the ranchers account and sets up next years operating loan....

I remember one terrible price year when one rancher came back from the bank flipping a silver dollar...He said the banker gave it to him out of the goodness of his heart, so that he had at least got some profit for his years work...He had a smile on his face- and I asked him how he could be so happy and he answered "well they gave me another operating loan so I can keep the place another year"... :shock: :(