Tyson’s costs to buy live cattle increased $305 million from last year.

Tyson Foods shares plunge

Deflated demand, inflated costs lead to surprise loss

Tyson Foods Inc. shares plunged 16 per cent to a three-year low May 8 as the U.S. meatpacker posted a surprise second-quarter loss and cut its full-year revenue forecast amid slowing consumer demand. The weaker than expected results indicate cash-strapped shoppers are cutting back on meat spending in a high-inflation environment, while a shrinking cattle herd forces Tyson to pay more for

Corteva raises sales outlook after topping quarterly profit estimates

Reuters – Agricultural chemical and seed company Corteva raised its full-year forecast May 3 after it beat quarterly profit estimates. The company’s performance was aided by higher prices and strong demand for seeds, sending its shares up two per cent in extended trade. Crop prices have scaled back after rising to record highs last year


Britain’s Tesco cuts milk price

Reuters – Britain’s biggest supermarket group, Tesco, has cut the price of milk for the first time since May 2020, a possible early sign that a surge in food inflation may abate in coming months. In March, grocery inflation in the U.K. rose to 17.5 per cent, according to market researcher Kantar. The price rise

Merit’s fall may create small setback in Manitoba pea market

Merit’s fall may create small setback in Manitoba pea market

The sale of the cash-strapped processor won’t be finalized until the end of May, at least

Manitoba farmers may see reduced opportunity to sell peas this year, as the fate of protein ingredient processor Merit Functional Foods remains undetermined until at least the end of the month. “Then the question is, do I continue to grow peas or do I switch to another crop. That’s a decision that the growers have probably made by now,”



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

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

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


BP Bunge to quit mineral fertilizers by 2025

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.

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

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


Redfern marks half-centennial 

Redfern Farm Services celebrated half a century in business in 2022

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,

Coceral expects European grain output to rise in 2023

Coceral expects European grain output to rise in 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