Bankruptcy Archives - Page 2 of 7 - Manitoba Co-operator

Hogs, Livestock, Livestock Markets, News

Puratone, Big Sky in receivership

By Shannon VanRaes September 22, 2012

Industry observers are worried processors could soon be scrambling for hogs as two of Canada’s largest producers tipped over the financial ledge last week and governments refused to ride to the rescue. “Obviously the challenge that we currently face is producers are exiting the business,” Jason Manness, director of procurement at Maple Leaf Foods said

Hogs, Livestock, News

U.S. drought pushes Big Sky Farms under

By Rod Nickel September 22, 2012

Canada’s second-biggest hog producer, Big Sky Farms, has entered receivership as the North American hog industry struggles under the bruising costs of animal feed. Big Sky Farms, based in Humboldt, produces roughly one million pigs annually and accounts for 40 per cent of Saskatchewan’s total hog production. Under receivership, an outside party controls a company

News, Opinion

Futures industry shaken as another broker goes bankrupt

By P.J. Huffstutter, Tom Polansek July 21, 2012

Reuters / Russell Wasendorf Sr., arrested last Friday, confessed to a 20-year fraud at Peregrine Financial Group (PFG), his now-bankrupt Iowa brokerage, saying business troubles and his “big” ego left him no choice: “So I cheated.” In the dramatic conclusion to a week-long saga that has shaken trader confidence in the trillion-dollar U.S. futures markets,

Beef cattle, Livestock, News

Cargill adds another beef-processing plant

By Christine Stebbins July 20, 2012

U.S. agribusiness giant Cargill Inc. said July 12 it bought a former AFA Foods Inc. ground beef-processing plant in Fort Worth, Texas, for $14.1 million, in a move that will add to its already strong position in the U.S. and Canadian consumer market. Based in King of Prussia, Pennsylvania, AFA filed for Chapter 11 protection in

Opinion

Ticket to unparalleled heartburn

By Alan Guebert June 5, 2012

Since you speak English as well as anyone, perhaps you understand the working paragraph of a May 19 Washington Post column that explains the trading strategy employed by JP Morgan Chase & Co. to, ah, hedge its market risk. It reads: “It is this exemption that would allow (JP Morgan executive, Ina) Drew and her

Beef cattle, Livestock, Livestock Markets, News

U.S. feedlot cattle supply at a four-year high

By Theopolis Waters March 29, 2012

Placements rose three per cent in February Cattle supplies in U.S. feedlots rose to their highest in four years last month, a U.S. government report showed March 23, as surging prices in the cash market and improved wheat pastures in the drought-stricken southern Plains lifted placements. The U.S. Department of Agriculture’s cattle-on-feed report showed that

News

U.S. farmers, ranchers out $100 million

By K.t. Arasu February 16, 2012

U.S. farmers and ranchers who had accounts with failed broker MF Global have got back the bulk of their money, but are still owed about $100 million. The $100 million is believed to be part of MF Global customers’ $1.2 billion in funds that remain missing after the chaotic flame-out of the broker. Thousands of

Cereals, Grain Markets, Oilseeds

MF Global Bankruptcy Weighs Down Canola Market

By Phil Franz-Warkentin November 10, 2011

ICE Futures Canada canola contracts were lower in most months during the week ended Nov. 4, with the continued chaos in global financial markets front and centre in the day-to-day canola trade as well. So far canola has managed to hold relatively steady given the increasing uncertainty in the world economy, but those outside factors

Grain Markets

EU Meltdown Takes Down Global MF

November 3, 2011

The Chicago Mercantile Exchange and ICE Futures Canada said Oct. 31 that customers of broker-dealer MF Global were limited to liquidating their positions. The exchange, which owns the Chicago Board of Trade, said it would no longer recognize MF Global, which filed for Chapter 11 as a guarantor for floor trading. The company filed for

Cereals, Grain Markets, Oilseeds

Funds Retreat From Ag Investments As Prices Fall

By Mark Weinraub June 30, 2011

Money managers slashed their bullish bets in corn by 22 per cent to the smallest level in nearly a year at a time when analysts are saying that the year-long rally in grains has ended. Noncommercial traders, a category that includes hedge funds, cut their net long holdings in corn to 214,412 contracts in the

Field-by-field mapping could improve yield, productivity predictions

U.S. grains: Corn futures edge up, soybeans sag on improving US crop ratings

U.S. livestock: Cattle futures up, hogs mixed

Daily Network News