Section 764.356 - Appraisal and valuation requirements(a) In the case of physical losses associated with livestock, the applicant must have written documentation of the inventory of livestock and records of livestock product sales sufficient to allow the Agency to value such livestock or livestock products just prior to the loss.(b) In the case of farm assets damaged by the disaster, the value of such security shall be established as of the day before the disaster occurred.(c) In the case of an equine loss loan: (1) The applicant's Federal income tax and business records will be the primary source of financial information. Sales receipts, invoices, or other official sales records will document the sales price of individual animals.(2) If the applicant does not have 3 complete years of business records, the Agency will obtain the most reliable and reasonable information available from sources such as the Cooperative Extension Service, universities, and breed associations to document production for those years for which the applicant does not have a complete year of business records. 72 FR 63298 , Nov. 8, 2007, as amended at 76 FR 75435 , Dec. 2, 2011