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- Compeer seeks damages, receivership in SD hog farms check kiting scheme
Compeer Financial has filed a lawsuit against three hog farms in Yankton County, South Dakota this week, requesting the court appoint a receiver to oversee the raising and finishing of 110,000 hogs and compensation for the “billions of dollars fraudulently transferred by the defendants and their principals between Canada and the United States” in a check kiting scheme. In a complaint filed Monday in the South Dakota District Court, the member-owned Farm Credit cooperative stated the defendants, Sunwold Farms, Sunterra Farms and Lariagra Farms, pledged their pig inventory as the primary collateral for a $11.5 million loan. However, due to the farms’ fraudulent check kiting actions, Compeer is now facing losses of $36 million Check kiting involves opening one or more accounts in several banks and then drawing from one account and depositing in the other when neither has any substantial funds. The scheme will collapse when one of the… ...[TheTopNews] Read More.2 days ago - March U.S. hog inventory down, reduction in 2025 pork production likelyAs of March 1, the United States was home to 74.512 million head of hogs and pigs, down 0.2% from a year ago and 1% from last quarter’s inventory, according to the latest Hogs and Pigs report published Thursday by the USDA’s National Agricultural Statistics Service. However, that figure came in 1.4 percentage points below pre-report expectations. “All numbers are below pre-report expectations, and came in smaller than what analysts had expected, and most numbers are below year-ago levels with just a very few exceptions,” says Lee Schulz, chief economist with Ever.Ag. Breeding inventory was 5.98 million head, down 0.6% from a year ago and “at least within one percentage point of where analysts had it at, up 0.3% compared to a year ago,” Schulz says. At 68.532 million head, market hog inventory was down marginally .2% from the year prior, however that figure was down 1.3 percentage points from… ...[TheTopNews] Read More.2 days ago
- Keep your eye on the prizeThe year has kicked off with volatility as headlines drive rapid market shifts on an almost daily basis. In this column, I have traditionally focused on providing context around supply and demand fundamentals—how they interact to determine equilibrium prices and, in turn, profit margins for pig farmers. Demand is always a wildcard, complicated by delayed and sometimes incomplete USDA data. While not impossible to analyze, it is far less straightforward than supply trends. Adding to the uncertainty, shifting tariff policies continue to reshape global trade. Chinese pork imports have declined dramatically over the past four years, reducing U.S. market share in what was once a much larger opportunity. Meanwhile, trade relations with Mexico and Canada remain uncertain, and the prospect of new reciprocal tariffs raise fresh concerns about future market dynamics. While it’s easy to get caught up in the noise of political rhetoric and social media speculation, it is… ...[TheTopNews] Read More.2 days ago
- Pork is center of plate in new consumer campaignPork producers and industry stakeholders agree that demand needs to be the industry’s top priority. Thus, NPB is investing significantly in growing demand and launching a new consumer campaign this spring to ensure pork remains relevant and desirable in the marketplace. Today, Dr. David Newman, senior vice president for market growth at the National Pork Board, and Jesse Heimer, NPB board member and Missouri pork producer, are talking about the Checkoff’s most recent work to build a bigger appetite for pork here at home. ...[TheTopNews] Read More.2 days ago
- Conflict and rising food prices drive Congolese into one of the world’s worst food crises acco...
...[TheTopNews] Read More.5 days ago - The genetic diversity of our plants and forests is at risk, new FAO reports warn...[TheTopNews] Read More.7 days ago
- International Day of Forests 2025: Engaging the next generation in the connection between forests an......[TheTopNews] Read More.2 weeks ago
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