§ 29-8-104 — Extent of lien; priority

(a) The lien shall be to the extent of:
(i) The agreed price, if any, pursuant to the terms
of any contract or for the market value at the time of transfer
of ownership if not agreed;
(ii) If the farm product has not been sold or
processed by the processor, contractor, warehouse operator or
commodity dealer the lien shall be on the farm product;
(iii) If the farm product is sold or processed by the
processor, contractor, warehouse operator or commodity dealer
the lien shall be on the cash proceeds from the sale. For
purposes of this paragraph, cash proceeds held by the processor,
contractor, warehouse operator or commodity dealer shall be
deemed to be cash proceeds from the sale regardless of whether
it is identifiable cash proceeds;
(iv) If the farm product is processed by the
processor, contractor, warehouse operator or commodity dealer
and there is no property of the type described in paragraph (ii)
or (iii) of this subsection to which the lien can attach, then
the lien shall extend to any property of the processor,
contractor, warehouse operator or commodity dealer that may be
subject to a security interest as provided by W.S. 34.1-9-109.
(b) A perfected lien under paragraph (a)(ii) or (iii) of
this section shall be preferred to, and have priority over, a
lien or security interest in favor of a creditor of the
processor, contractor, warehouse operator or commodity dealer
regardless of the time when the creditor's lien or security
interest attached to the farm products or the proceeds thereof
or therefrom. The priority of a perfected lien under paragraph
(a)(iv) of this section shall be determined by the date on which
the lien is filed as required by this act, and it shall not have
priority over other perfected liens on the same property which
have been perfected prior to the filing date.