In this day and age, when household pets are microchipped, you would think that Farmers would be intelligent enough, to have their Cattle microchipped and a system set up, at Cattle Auctions that would require whoever is selling the animals, to provide proof of identity, prior to auctioning their Cows? All the Auctioneer would have to do, is wave a wand, over the chip, bring up the owner's information on his PC, and verify that the seller is actually the owner.
What could be more simple a procedure than that? If these Cattle are "insured" by the Farmers, perhaps the Insurance companies might want to offer a small discount, for those Farmers who can prove they have provided a serial number, tatooed on the Cow or Bull, and a Vets receipt for having microchipped that particular animal? Unless that procedure is done, no insurance company should provide any insurance to those who do not comply with adequate theft prevention of their property. After all, automobile owners who have "anti-theft" devices on their autos, receive a discount, and are strongly encouraged to have ABS brakes etc. While I don't recommend ABS brakes on a Bull or a Cow, a simple microchip would go a long way toward reducing the Cattle Rustling they are complaining about today. I can't, for the life of me, understand why they would leave their herd out in the open, and not secure them at night, with an alarm on their Barn that would alert them to anyone around the premises who didn't belong there.
In this instance, the insurance company should insist on video surveillance, and the owner should be made to be a responsible owner, and after the first theft, if these owners do not take the necessary precautions to "protect their product" then coverage should be denied to them, until such time that they improve their own protection of the herd.