Business Archives - Page 4 of 51 - Manitoba Co-operator

Brazil meatpacker Marfrig posts loss on shrinking North American demand

By Reuters March 13, 2023

Brazilian meatpacker Marfrig Global Foods has posted a fourth-quarter net loss of US$121 million, falling below estimates of a net profit for the quarter in part because of lower earnings in North America. Analysts polled by Reuters had estimated a net profit of $88 million for the last three months of 2022, down from a

Markets, News

Pilgrim’s Pride underestimated U.S. meat supplies, hurting earnings

By Tom Polansek February 28, 2023

Reuters – Pilgrim’s Pride, one of the biggest U.S. chicken companies, underestimated meat production at the end of last year, Chief Executive Fabio Sandri said after the company reported a surprise quarterly loss. The company, owned mostly by meatpacker JBS, joined rival Tyson Foods in misjudging that lower beef and pork supplies would increase demand

Markets, News

BP Bunge to quit mineral fertilizers by 2025

By Ana Mano February 2, 2023

Reuters – The Brazil-based joint venture between energy company BP and agri-business Bunge will phase out use of mineral fertilizers on sugarcane fields by 2025, the companies said in a Jan. 23 statement. Instead, it will increase use of biological alternatives developed by Brazil’s agricultural research agency Embrapa. The move, which comes after a rise

Cannabis growers are struggling to keep afloat amid low prices and stiff competition.

News

Pot producer Delta 9 announces cutback amid industry-wide struggle

The Cannabis Council of Canada is asking the federal government to ease the tax burden on producers

By Geralyn Wichers January 20, 2023

Manitoba cannabis giant Delta 9’s cost-cutting measures are symptomatic of financial struggles across the industry. The Winnipeg-based company recently announced it would lay off approximately 40 staff and reduce its cultivation capacity by about 40 per cent. The board and executive have also taken a pay cut, Delta 9 said in a Jan. 9 news release. “The cost savings

News

Redfern marks half-centennial

Redfern Farm Services celebrated half a century in business in 2022

By Alexis Stockford January 13, 2023

The name Redfern has history behind it in western Manitoba. Ray Redfern started his company, Redfern Farm Services, in 1972 and opened the first location in Rivers. Just over 50 years later, the company has grown to 11 sites, with a head office in Brandon and branches in Carberry, Hamiota, Shoal Lake, Hartney, Kenton, Virden,

News

Coceral expects European grain output to rise in 2023

By Reuters January 4, 2023

Grain production in the European Union plus the United Kingdom is expected to rise in 2023, grain industry lobby group Coceral said recently, recovering after dry and hot weather caused crop damage in many parts of the region this year. Harvest prospects in the EU are being monitored closely as grain markets wrestle with supply

News

Fertilizer firm seeks grain giant assets

Uralchem wants to buy grain assets from Viterra, Cargill if they leave Russia

By Reuters December 20, 2022

Russian fertilizer producer Uralchem would be interested in buying the Russian assets of global grain traders Viterra and Cargill if they decide to leave Russia, the company said in a letter seen by Reuters. Spokespersons for Cargill’s and Viterra’s Russian operations said their respective companies do not plan to leave the country. Uralchem declined to

News, Poultry

Manitoba layer chick provider sold

Clark’s Poultry has been jointly bought by International Layer Distribution and Trouw Nutrition Canada

By Alexis Stockford December 15, 2022

One of Manitoba’s long-time layer operations is changing hands. Clark’s Poultry, out of Brandon, announced Dec. 5 that the company had been jointly acquired by International Layer Distribution and Trouw Nutrition Canada. Why it matters: Two companies with ownership roots in Europe have purchased the Manitoba chick provider. The company, which this year celebrates its

News

Tyson Foods ends COVID-19 vaccine mandate for employees

By Tom Polansek November 25, 2022

Reuters – Tyson Foods has confirmed it eliminated a requirement that employees receive COVID-19 vaccinations, a step the company said improved meatpacking operations after plants closed in 2020 due to outbreaks among workers. The biggest U.S. meat company by sales lifted the mandate on Oct. 31, one year after imposing it, according to a report

Markets, News

Weedkiller windfall helps Bayer top profit forecasts

By Ludwig Burger November 21, 2022

Reuters – Bayer has reported better-than-expected quarterly earnings as a temporary price boost for its glyphosate-based herbicides made up for a decline in sales of its stroke prevention pill Xarelto. The German company said third-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 17.3 per cent to US$2.45 billion, above analysts’ average estimate

Daily Network News

U.S. livestock: CME cattle tick lower in thin pre-holiday trade

U.S. grains: Wheat extends gains on short covering, war risk

Prairie forecast: Plenty more chances for snow over Holidays

Tag Archives Business

Brazil meatpacker Marfrig posts loss on shrinking North American demand

Pilgrim’s Pride underestimated U.S. meat supplies, hurting earnings

BP Bunge to quit mineral fertilizers by 2025

Pot producer Delta 9 announces cutback amid industry-wide struggle

Redfern marks half-centennial

Coceral expects European grain output to rise in 2023

Fertilizer firm seeks grain giant assets

Manitoba layer chick provider sold

Tyson Foods ends COVID-19 vaccine mandate for employees

Weedkiller windfall helps Bayer top profit forecasts

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