Big sky posted a miillion loss how much did agstability pay them?

[Hopperbin]

Local feed mill here 3 miles down the road one month ago I made them an offer to match Rayglen's picked up harvest time price. They would not match, I would be the one hauling. One week ago I touched basis with them about pricing and the fact that Rayglen told me the grain may going to their mill, and was scolded that they would never deal with them they always purchase from the farmer. 2 days ago had one trucker take out 5 loads in a matter of 7 hours. Found out its going to the mill. So they paid Rayglen the 3 dollar per ton extra plus the Min. 5 dollars per ton trucking. Maybe now instead of getting my check in one week I will get it in 6. Is this something to worry about now? They are chosing to pay more so as not to pay out for a couple weeks to Rayglen?

[sumdumguy]

The cow-calf operators will likely never qualify for
AgriStability. The calf crop adds to the claim year
margin, whether feeding the critters ends in profit
or loss.

[bgmb]

"anti cwb fantisy world" haha I agree, Tom you have an amazing ability to bring virtually every topic back to the CWB debate in some way, even now that you aren't obligated to deal with them, an amazing talent. Talk about a fiddle with one tune.

[grassfarmer]

I just wish he'd be honest bgmb - if the demise of the
CWB is behind the rise in global grain prices then it's
must follow that "marketing freedom" brought aster
yellows, high winds and sclerotinia, lol

[grainboy]

@hopperbin, wouldnt you have known when you sold that grain that it was going to the feed mill? I mean your not selling your grain to rayglen they are just a broker they dont pay for that grain. so when you sold it didnt rayglen say it going to the feedmill?

[Hopperbin]

Did not know who bought it actually but now know it was JGL something like that. Then got recontracted something like that from JGL to the local feed mill so were ok just touched basis with them and they could not purchase that far ahead at the time I was wanting to contract and am asking for blending oportunity now if can sell my total production for a price of course. Nice to deal with the locals here actually. Sorry to ruffle some feathers. But when hog barns start to drop like flies gotta get worried.

[Hopperbin]

Not breaking news but,,,,

The Puratone Corp., the third largest hog producer in Manitoba, has filed for bankruptcy protection raising alarm bells about a crisis in the hog producing industry in Manitoba.

The Niverville-based operation has about 40 barns, mostly in eastern Manitoba, producing about 500,000 hogs per year.

The company cited a whole series of challenging market conditions that has forced the company into a situation where it has to be restructured. Those conditions include the recent phenomenon of high feed prices brought on by the drought in the U.S. corn belt.

It owes about $92 million and is in breach of its loan covenants. According to court documents, it has lost about $36 million over the past four years.

Puratone has about 300 employees, but a company release said over the past two years the company has eliminated non-core operations and cut staff.

Barns are remaining open and Puratone’s secured creditors, the Bank of Montreal and the Farm Credit Corp. are supporting the action and will continue to fund operations, but industry sources say it is unclear what will happen going forward.

Puratone is owned by a complex structure including many private shareholders.

Puratone’s filing comes the same week that Big Sky, Saskatchewan’s largest hog producer and the second largest in the country, was placed into receivership after having gone through its own restructuring three years ago. It owes its creditors about $69 million.

Hog producers in Manitoba have been beating the drum about severe losses for some time now.

Spokesmen for Manitoba Pork Council say Manitoba’s producers are in line to lose as much as $150 million this winter.

They say hog producers are losing at least $20 per head with no relief in sight at least until next summer when futures prices are already being pegged at about $20 per head higher than they are today.

[Hopperbin]

I always like to see what is the corps capital per employee for some reason.
Puritan's debt to banks not counting assets is 306,666 per employee.

[Hopperbin]

So interest on that debt to the banks is if at 4 percent per annum is 12,266 per employee.

[TOM4CWB]

"No question there will be pain for those who thought the CWB single desk monopoly (LIVESToCK SUBSIDY) wouldn't end! Risk Management now is required to turn a profit for livestock production INSTEAD of GRAIN FARMERS supplying it gratus)."

"HA HA" at me all you like... THIS is the new reality. We were on the topic about why Big Sky et. el; are broke.

PLEASE note... I see NO CWB offer for marketing FEED Barley. WHY?

CWB Feed Wheat initial at the local elevator... $3.90/bu initial... while we just sold a big lot of NonBoard at $7.50/bu?

And this would be happening IF the Single Desk was still in place?

I call your bluff... NO WAY.

Take what I said at face value.

In no way was this ANYTHING but a reality check.

Cheers!