GFM Network News

Deere & Co. is managing the agriculture downturn more effectively but there’s still storm clouds overhead.

Deere earnings beat estimates but outlook downbeat

Global farm recession blamed for ongoing challenges but losses were smaller than predicted

Deere & Co. reported a much smaller-than-expected decline in quarterly earnings Nov. 22, after it cut costs and raised prices to compensate for sluggish demand for its agricultural and construction equipment, and its shares jumped more than 10 per cent. The company forecast revenue for the new fiscal year would fall about one per cent

(Greg Berg photo)

Deere challenges U.S. federal block on Precision Planting bid

Reuters — Deere and Co. said its proposal to buy Precision Planting, an agricultural equipment and technology company, will increase consumer choice and directly benefit growers, in a response filed on Wednesday to the U.S. Department of Justice’s lawsuit to block the acquisition. Deere announced its planned acquisition of Precision Planting in November 2015, for

(Greg Berg photo)

John Deere to acquire European farm equipment maker Monosem

Reuters – Deere & Co. shares rose about 2 per cent on Monday after the company said it plans to acquire Monosem, a European family-owned farm equipment manufacturer that specializes in “precision planters” designed to increase crop production. Deere would not comment on the transaction’s financial details or Monosem’s revenues, but it does expect the

(Photo courtesy Canada Beef Inc.)

U.S. livestock: CME live cattle end up, hogs mixed

Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Thursday as expectations of steady-to-higher cash trade later this week lifted futures, traders said. April closed 1.225 cents per pound higher at 163.025 cents and June closed 1.15 cents/lb. higher at 153.375 cents (all figures US$). “The market is anticipating better cash cattle

(Scott Bauer photo courtesy ARS/USDA)

U.S. livestock: CME lean hogs edge up, live cattle end lower

Chicago | Reuters — Chicago Mercantile Exchange lean hogs ended slightly higher on Monday, ending a seven-day losing streak, supported by stronger wholesale pork product prices while cash hog prices weighed, traders said. April closed just 0.1 cent per pound higher at 62.2 cents, while May ended unchanged at 71.425 cents (all figures US$). Monday