GFM Network News

COVID-19 lands at another Cargill meat plant

Five cases linked to case-ready plant in Calgary

Alberta provincial officials have declared a COVID-19 outbreak at Cargill’s meat further-processing plant in Calgary, with five cases of the coronavirus connected to the facility. Provincial chief medical officer Dr. Deena Hinshaw tweeted Friday that “there are five cases linked to Cargill Case Ready Meats in #YYC.” Provincial health officials “have visited the plant and […] Read more

JBS to resume U.S. share listing plan after COVID-19 fallout

Management looking also for US$100 million in cost cuts

Sao Paulo | Reuters — Brazil’s JBS SA is reviving plans to list shares on Wall Street after dealing with the COVID-19 pandemic’s fallout, CEO Gilberto Tomazoni said on Friday, as the world’s largest meatpacker reported strong quarterly results. Speaking on a conference call with analysts following the company’s second-quarter results, Tomazoni said the focus […] Read more

Feds line up projects for surplus food program

NGOs backed to gather, distribute 12 million kg of food

The federal government has lined up eight projects to source and distribute perishable produce, meat, eggs and seafood piling up across Canada due to the COVID-19 pandemic. As part of the federal pandemic response, Prime Minister Justin Trudeau announced in early May that Ottawa would budget $50 million for a food surplus purchase program. The […] Read more

McDonald’s resuming all-Canadian beef supply

'Supply adjustment' ends next month, company says

McDonald’s Canada’s pandemic-related “supply adjustment,” in which the burger chain cut its Canadian beef purchases to below 100 per cent, is set to end next month. The Canadian arm of the U.S. fast food giant announced Thursday it will resume its pre-pandemic policy of sourcing 100 per cent Canadian beef, starting in September. In late […] Read more

Cannabis industry readies for M+A after COVID-19 boosts weed demand

Companies betting on U.S. market growth after election

Reuters — After nearly a year of next-to-no dealmaking, cannabis companies are gearing up for mergers and acquisitions (M+A) as realistic stock valuations and the prospect of U.S. legalization attract buyers to a sector that has been decimated by oversupply and other issues, executives and investors say. Profitable cannabis companies want to buy their way […] Read more

This study by Farm Management Canada and the Agri-Food Management Institute surveyed 604 farmers and found those in the top quartile outperformed those in the bottom quartile by a wide margin, including having a return on assets that was 525 per cent higher and gross margin ratio that was 155 per cent higher.

Now is the second-best time to create your business plan

Business plans boost profitability but during a crisis, they also help you ‘sleep at night’

COVID-19 has a lot of farmers dusting off their risk management strategies, but if a business plan isn’t part of that, you’re likely sacrificing your bottom line — and your peace of mind. “We know that farmers are very stressed, but we also know that business planning can help,” said Heather Watson, executive director of […] Read more

Empty shelves, closed businesses, COVID testing at Cargill’s High River, and Huawei executive Meng Wanzhou heading to court in Vancouver. Just four of hundreds of factors at play as the pandemic batters economies around the world.

Pandemic fallout could get very grim before it gets better

The coming recession will be deep, and ‘revenge and blame’ will roil global markets, say experts

No one needs more bad news, but the pandemic is causing upheaval around the world and will produce a ‘very deep’ recession, say two leading economic experts. “The trade sanctions and the trade issues over the past couple of years were just a precursor of what may occur into the future,” said David Kohl, professor […] Read more

Hog producers are losing a lot of money, says the executive director of Alberta Pork.

Hog sector is grim, cattle is recovering

Cattle backlog is being cleared but hog producers are losing upwards of $50 on every pig they sell

The beef sector is regaining some optimism, but pork producers are still fighting to stay afloat. “Our producers are losing a lot of money,” said Darcy Fitzgerald, executive director of Alberta Pork. “It truly is, right now, related to COVID-19. The price that we’re seeing that they’re being paid, is related to what is going […] Read more

Union seeks temporary halt for major Manitoba hog plant

Four Maple Leaf plant staff now COVID-positive

The union for about 2,000 workers at Maple Leaf Foods’ main Canadian hog slaughter and packing plant is calling for the company to put the brakes on production, pending further tests for COVID-19 among employees. United Food and Commercial Workers (UFCW) Local 832 said Thursday it was “made aware” late Wednesday night of three more […] Read more