WINNIPEG – Manitoba Pool Elevators and Saskatchewan Wheat Pool took “a bold step” when they decided to form Heartland Livestock Services over a year ago, says Heartland’s general manager John LeClare.
But it’s a decision that seems to be paying off. LeClare told Manitoba Pool’s annual meeting that the company had consolidated earnings last year of $749,300.
LeClare said the company had little lead time before it started operations in August 1994. It started without a legal name, logo and consistent tariffs.
But by year-end, all those details were sorted out. Plus, the company has a partnership in the Medicine Hat Feeding Company, bought the Burnt Lake Livestock Mart in Red Deer, Alta., and built a new livestock yard in Lloydminster.
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LeClare told Manitoba Pool delegates that Heartland Livestock handled 649,100 head of cattle and calves, which is 16,200 more than it budgeted for. The company also handled almost 11,000 sheep, more than 10,000 hogs, and over 5,000 horses.
Pound-Maker Agventures had “a very difficult year,” LeClare said, but managed to have a positive bottom line. Feeder prices were strong through the fall and early winter, but prices for finished cattle declined, he explained.
The feedlot marketed 33,600 head, while the ethanol plant at the site produced 12.6 million litres.
