Republican candidate for lieutenant governor Derek Wulf says he has secured refinancing for his Black Hawk County farm after a judgment in a Sioux County civil case involving his livestock operation was paid in full.
Wulf addressed his financial situation Wednesday during a meeting of the Westside Conservative Club in Urbandale. Radio Iowa’s O. Kay Henderson reports.
“Wulf spoke at the Westside Conservative Club in Urbandale yesterday (Wednesday). A woman in the crowd told Wulf she was doing him a favor by asking about his finances in front of a friendly audience. “Can you share with us how you’re going to frame your financial situation to make it consumable and palatable to the people out there?” she asked. “‘Cause it’s coming up.” Wulf called it a fair question. “Every family farm out there right now is trying to figure out how to navigate through higher input costs, lower commodity prices and figure out how to survive,” Wulf said. Earlier this month during a court hearing in Orange City, Wulf’s attorney wired a payment to settle Wulf’s $186,000 debt for about two-thousand pigs. This spring, an attorney for a bank in Independence sent Wulf a letter threatening to start foreclosure proceedings on Wulf’s farm, but Wulf says he now has the refinancing to resolve his debts.”
Sioux County Case Paid in Full
Court records reviewed by Sioux County Radio show Four County Pig Placement, Incorporated—a Sioux County feeder-pig brokerage—filed a civil case against Wulf in February.
The petition alleged Wulf, doing business as Shallow Creek Land and Livestock, ordered 2,189 feeder pigs in October 2025 and did not pay two invoices totaling $182,244.70.
Because no answer or formal appearance was filed on Wulf’s behalf, the court entered a default judgment April 16 for the full amount, plus court costs and interest.
A debtor-examination hearing was held July 13 in Orange City after the judgment remained unpaid. The hearing proceeded without Wulf or an attorney appearing on his behalf. During the hearing, an attorney representing Four County Pig Placement told the court that Wulf’s attorney had indicated refinancing and bridge financing were being arranged and that a wire payment was pending.
A satisfaction and release of judgment was filed the following day, showing the judgment had been paid in full.
In a statement to Sioux County Radio, Four County Pig Placement explained the basis of the judgment.
“The judgment was for two groups of feeder pigs that were invoiced in November and due upon receipt that he (Wulf) failed to pay for.”
– Official Statement from Four County Pig Placement of Sioux Center
Wulf says Refinancing is Complete
Radio Iowa reports that an attorney for an Independence bank sent Wulf a letter this spring warning that foreclosure proceedings could begin on his farm.
Wulf told the Urbandale audience that the refinancing process began in December and has now been completed.
“We were able to refinance our farm and we’re moving forward. And is it tough? Yes, it’s absolutely tough. And were those discussions tough? Absolutely, but I will tell you this: farmers are resilient in the state of Iowa,” Wulf said. “I like to think our farm is resilient as well and we’re going to get through this, just like every other family farm right now.”
Wulf also said Iowa has strong agricultural lenders willing to continue working with producers during difficult periods in the farm economy. He described the challenges facing his operation as part of the reason he joined the Republican ticket, saying family farms are struggling to navigate current economic conditions.
Agricultural Experience Cited in Campaign
Republican gubernatorial candidate Zach Lahn has said he selected Wulf as his running mate partly because of Wulf’s experience as a farmer and rancher and his understanding of the challenges agricultural producers are facing.
Wulf has served in the Iowa House since January 2023. Lahn has also pointed to Wulf’s legislative record, including his support for legislation allowing farmers to repair and modify their own equipment instead of being required to use technicians from licensed dealerships.
Reporting for this story from O. Kay Henderson (Radio Iowa) and Carson Schubert (Sioux County Radio)
