Lafayette Production Credit Ass'n v. Wilson Foods Corp.

AMENDED JUDGMENT ORDER 1

KANNE, Circuit Judge. 2

This is a case about conversion — a meat packer’s purchase and use of hogs which were subject to a security interest. Hogs raised by an Indiana farmer provided security for a livestock production loan by an agricultural lender, Lafayette Production Credit Association (PCA). The total loan exceeded $1.8 million. The farmer met with PCA over a two day period to discuss the terms of renewing his annual production loan. During these meetings the farmer signed several documents relating to the loan, including a loan closing letter which stated that,…