New owner gets permit for Yankton livestock auction
PIERRE — The state Animal Industry Board agreed on July 14 to grant a livestock auction market license to Greg Ryken as new owner of Stockmen’s Livestock Inc. at Yankton.
Greg Ryken said he is buying the business from Larry Ryken of Yankton.
Bruce Smith, the lawyer currently for Greg Ryken, said his client is a distant relative of Larry Ryken. Smith represented Larry Ryken before the board last August for his licensing.
“I think they’re a positive influence in Yankton,” Smith told the board.
Greg Ryken said he is one of the members in a holding company that owns the land where Stockmen’s Livestock is located as well as other property in that immediate area.
He said he would become the sole shareholder of the auction market upon approval of the license and is leasing the business site from the holding company.
The board reviewed confidential financial documents for Greg Ryken and Stockmen’s Livestock during the meeting.
Board member Cobbie Magness of Huron questioned Greg Ryken about the lease arrangement.
“The protections are in place,” Smith told the board.
The board approved the license on a voice vote. No dissenting vote was heard.
“It’s been successful,” board member Bill Aeschlimann of Hurley said.
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