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Nutrien’s head office building in Saskatoon. (Liam O’Connor photo)
Crops

Nutrien misses profit estimates amid higher fertilizer prices

CF Industries also books lower sales

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Reuters — Canadian fertilizer maker Nutrien on Wednesday forecast lower-than-expected 2023 earnings and posted fourth-quarter profit below Wall Street estimates, sending shares down 2.6 per cent in extended trading. While higher fertilizer prices dented demand in early second-half of last year, a fall in prices later in the year did not boost demand as farmers […] Read more
(Saputo video screengrab via YouTube)
Livestock

Saputo to shut two dairy plants in East

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Canadian dairy processing giant Saputo, in a move it describes as “right-sizing” its manufacturing footprint, plans to close two of its plants in Eastern Canada within a year. Montreal-based Saputo said Thursday it will close the former Riverside Cheese and Butter plant at Trenton, Ont. this September and its Baxter dairy plant at Saint John, […] Read more
(Dave Bedard photo)
Livestock

Maple Leaf quarterly profit misses estimates as costs rise

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Reuters — Packaged meat producer Maple Leaf Foods reported a lower-than-expected quarterly profit on Thursday, hit by higher costs as it invested more in new initiatives and capacity expansion. The company has been keen on expanding in the U.S., seeing growth opportunities in humanely raised animal products and alternative protein sources. In April, the company […] Read more
(Dave Bedard photo)
Markets

Cargill’s net earnings down as trade fight bites

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Chicago | Reuters — Grains trader Cargill on Thursday reported a 20 per cent drop in its fiscal second-quarter 2019 net earnings, as global trade tensions hit the bottom line along with challenges in the Chinese hog sector and a struggling U.S. dairy business. Three of the company’s four business units reported results that were […] Read more
(Staff photo)
Crops

Nutrien sees demand growth cooling, margins shrinking

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Reuters — Nutrien, the Canadian fertilizer and farm supply dealer created from the merger of Agrium and PotashCorp this year, said it expected demand growth for potash in China and India to cool down in 2018. Nutrien, the world’s biggest fertilizer company by capacity, also said higher input costs would shrink nitrogen and phosphate margins. […] Read more
(Dave Bedard photo)
Livestock

Sobeys, Safeway parent seeks cost-cutting ‘leverage’

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Empire Co., the parent firm for about 1,500 grocery stores across Canada, plans to restructure from a regional to a “largely national” operation cutting $500 million in annual costs by the end of 2020. Nova Scotia-based Empire — whose stores operate under brands including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s — on […] Read more
A CN locomotive near Jasper, Alta. (Photo courtesy CN)
Crops, Machinery

Grain handle helps CN to record first-quarter volume

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Canadian National Railway reports moving more Prairie grain in its first quarter than at the same time last year, despite “more demanding winter conditions” compared to 2016. Montreal-based CN on Monday reported net earnings of $884 million on overall revenues of $3.206 billion for the quarter ending March 31 (Q1), up from $792 million on […] Read more
(Dave Bedard photo)
Livestock

Maple Leaf posts higher-than-expected profit

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Reuters — Meat-packing company Maple Leaf Foods reported a better-than-expected quarterly profit, driven by increased retail sales in Canada and higher exports. The company, whose brands include Schneiders and namesake Maple Leaf, said adjusted operating earnings rose 10 per cent to $59 million in the first quarter ended March 31. Maple Leaf, which is Canada’s […] Read more
An Agrium fertilizer distribution facility west of Portage la Prairie, Man. (Dave Bedard photo)
Crops

Agrium forecasts less profitable year than expected

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Reuters — Fertilizer maker Agrium, the world’s biggest farm retailer, on Thursday forecast a less profitable year than expected and said its quarterly profit plunged. The Calgary-based company said after normal trading hours that it expects to earn $4.50-$6 per share in 2017. The midpoint of $5.25 fell below analysts’ average estimate of $5.45, according […] Read more
Agropur in 2016 expanded capacity at its Feta cheese plant at Weyauwega, Wisconsin, a move it said will “keep it number one in Feta production in the U.S.” (Agropur.com)
Livestock

Agropur raises 2016 sales, patronage dividends

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Acquisitions and cost-cutting have combined to boost dairy co-operative Agropur’s year-end bottom line — and to raise its total patronage dividends for the year by 50 per cent. The Quebec co-operative, which in 2016 landed on Rabobank’s list of the world’s 20 largest dairy companies for the first time, booked net earnings before patronage and […] Read more

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