Reuters — About 5,000 General Motors salaried workers took buyouts to leave the company, putting the company well on the way to hitting a US$2 billion cost-cutting target, the automaker’s chief financial officer said Tuesday. GM shares were trading down nearly two per cent at midday, even though CFO Paul Jacobson said demand for GM’s […] Read more
GM buyouts cut 5,000 jobs, CFO says
Not much more room seen to raise prices
British milk sours amid labour crisis
London | Reuters — Some British dairy farmers have been forced to destroy tens of thousands of litres of milk due to rising costs, labour shortages and an acute deficit of truck drivers which has strained supply chains to breaking point, farmers said. A post-Brexit shortage of workers, exacerbated by the global strains of the […] Read more
‘Perfect storm’ causes fertilizer price spikes
'Most of us are in a "wait-and-see" position'
MarketsFarm — Fertilizer prices have increased over the past year, but could be headed even higher as a recent confluence of events has caused a shortage — the effects of which may affect producers past the New Year. “Particularly, in the last few weeks, there have been a number of supply events which have really […] Read more
Saskatchewan ranchers backed for runoff control
Funding on offer for earth-moving work
Cow-calf producers in Saskatchewan may be able to get cost-shared funds from the federal/provincial Farm Stewardship Program to build ponds, ditches, dikes or berms to collect or manage runoff. The province and federal government on Tuesday announced such work now qualifies as a beneficial management practice (BMP) covered under the program. Eligible beef cow-calf producers […] Read more
Feed weekly outlook: Rising costs cut into cattle profits
MarketsFarm — Strong demand for beef has kept fed cattle prices in Western Canada well supported, but high feed grain prices continue to cut into profits in the feeder sector, according to CanFax analyst Brian Perillat. Fed cattle prices have rallied for most of 2021, he said, “so feedlots, after losing money for two to […] Read more
Canopy Growth to move U.S. listing to Nasdaq
Canadian cannabis company minding expenses
Reuters — Canadian pot producer Canopy Growth said on Tuesday it would move its U.S. stock listing to the Nasdaq, following rival Aphria in favouring the exchange’s “cost-effectiveness.” Canopy’s U.S. shares, currently listed on the New York Stock Exchange, rose over four per cent in extended trading. Years of high expenses and a lack of […] Read more
Machinery costs driving up fixed farming expenses
MarketsFarm — Fixed costs on farms continue to rise year-over-year, a statistic largely attributed to increasing land values and interest rates. At the beginning of 2019, Farm Credit Canada (FCC) reported farmland values across Canada increased by an average of 6.6 per cent during the previous year. But that’s not the main driver of fixed […] Read more
Prairie provinces react to Bibeau’s questions on carbon price impact
Ottawa — The Saskatchewan and Manitoba governments continue attempts to convince the federal government’s carbon pricing program puts farmers at a disadvantage. Federal Agriculture Minister Marie-Claude Bibeau recently suggested the carbon pricing system may not be disadvantaging farmers, questioning the impact of carbon pricing on agriculture, but saying she will continue to seek out more […] Read more
AgriRecovery in place for farms in B.C. wildfire zones
Farmers and ranchers whose operations were hit or evacuated during British Columbia’s particularly destructive wildfire season can expect up to $20 million in AgriRecovery funds toward repair, rebuilding and livestock feeding costs. The federal and B.C. governments on Tuesday laid out more details for the 60-40 cost-shared program, which was announced in principle in mid-August. […] Read more
Cyber-Savvy Farmer
