GFM Network News

CGC security program pays out on Bissma Pacific. Inc.

Grain commission security program kicks in Fourteen western Canadian farmers have been paid for crops delivered to an Ontario grain dealer that went into receivership in November. A total of 28 claims were made under the Canadian Grain Commission’s Payment Protection Program after Bissma Pacific Inc., a Pickering-based company that mainly bought western Canadian pulses,

Wheat farmers in Western Australia face a financing crunch

Bankers want at least eight per cent for operating loans, and are asking for risk-mitigation insurance

Two weeks ago some 350 farmers, politicians and bankers attended a meeting at Kulin in the heart of Western Australia (WA) wheat country. It was organized by the local representatives of the West Australian Farmers Federation and called “Agriculture in Crisis — looking for a brighter future.” There were no surprises and no answers, just

Grain commission considering expanding security program to feed mills

The Canadian Grain Commission (CGC) is considering whether it can expand its proposed new insurance-based payment security program to non-licensed buyers such as feed mills. “We at the commission have had some discussions about it and we’re looking at it,” CGC commissioner Murdoch MacKay told reporters after speaking at the Keystone Agricultural Producers’ (KAP) annual

KAP sets up Puratone meeting

Keystone Agricultural Producers (KAP) is hosting a meeting Dec. 3 to try and clarify where grain farmers owed money by Niverville-based Puratone stand. “We’re not going to be threatening people or making statements of claim,” KAP president Doug Chorney said in an interview Nov. 26. “We really just want to get the facts out because

Puratone deal leaves farmers hanging

Manitoba farmers owed at least $1 million for feed grains delivered to financially troubled Puratone Corp. are left holding an empty bag with its pending sale to Maple Leaf. Earlier this month Maple Leaf Foods, which operates a hog-slaughtering plant in Brandon, announced it was buying Puratone for $42 million. Puratone’s liabilities total nearly $100

Maple Leaf to buy Puratone

Maple Leaf Food’s agreement to purchase the Niverville-based Puratone Corporation is good news for Manitoba hog producers, according to Manitoba Pork Council. “We’re happy to see that a Canadian company has purchased Puratone,” said council chairman, Karl Kynoch. “We want to see plants here that can compete with their American counterparts.” With two of the

A new plan is needed

The description of Big Sky Farms Inc. circulated by the receiver trying to find a buyer for the failing hog production company’s assets is appropriately labelled a “teaser.” The Humboldt, Sask. business is the second-largest hog-producing company in Canada with capacity to produce up to one million hogs annually. We are told it is one

Maple Leaf has contingency plans

Maple Leaf Foods is examining its options after competitor Olymel placed a “stalking horse” bid on Big Sky Farms of Saskatchewan. Big Sky is a supplier for Maple Leaf’s Brandon facility, but went into receivership earlier this fall. “We don’t expect any short-term impact on our hog supply and we have several contingency plans in

Economic gloom hits U.S. live cattle futures

chicago / reuters / U.S. live cattle futures fell to a 2-1/2-month low the last week in September in a broad-based sell-off sparked by renewed concerns about the global economy that led to safe-haven investing in the dollar at the expense of other investments such as cattle, traders and analysts said. “It’s a technical meltdown

Maple Leaf searching for hog suppliers

Fears of a worldwide bacon shortage are overblown, but local processors are searching for new hog suppliers even as some producers cut their losses and depopulate their barns. “Unfortunately, there will be some producers who do exit this industry,” said Jason Manness, director of procurement for Maple Leaf Foods. “As a result, we are currently