BILLINGS, Mont. (AP) — A Billings livestock auction has paid a $31,000 fine for allowing an auctioneer to buy cattle in 2007 and for accounting practices that didn’t fully conform to federal rules.

The U.S. Department of Agriculture levied the fine. Vermillion Ranch Co., doing business as the Billings Livestock Commission Co., did not admit any wrongdoing.

USDA officials say auctioneer Ty Thompson bought 50 head of cattle directly and 1,567 head of cattle indirectly from March 1 through May 24, 2007, in transactions totaling more than $1 million.

The federal Packers and Stockyards Act prohibits auctioneers working the sale from bidding on consigned livestock. Thompson says he’s auctioneering less now so that his business, Thompson Cattle Co., can purchase cattle through the Billings auction.

The USDA also found that an account meant to hold money from sales until the money is turned over to sellers was allowed to fall short, once in late 2006 and once in early 2007.

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Information from: Billings Gazette, http://www.billingsgazette.com

Copyright 2009 The AP.