SASKATOON (Staff) – Weyburn Inland Terminal Ltd. has reported record profits of $2.44 million for 1994.
That’s more than double the previous record of $1.12 million established in 1993. Full details will be released at the company’s annual meeting of shareholders in the spring.
The terminal handled a record volume of grain last year, with deliveries totalling 463,700 tonnes, shattering the previous year’s record of 311,000 tonnes.
The company also reported last week that it paid freight and dockage incentives to farmers totalling $1.35 million. In addition, $176,300 in dividends were paid to shareholders during the year.
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Development fund priorities
CALGARY (Staff) – Priorities for the newly established beef industry development fund have been announced by the Canadian Cattlemen’s Association.
The fund, worth $21 million, will direct money over the next five years to beef consumption promotion and support for research in food quality.
A press release from the CCA said export market development that emphasizes Pacific Rim sales, domestic market development, beef quality research and training programs will be emphasized.
Export development will focus on work already done by the Beef Export Federation. Research projects must be in line with the CCA goal of achieving 95 percent customer satisfaction for beef tenderness. They must also conform with an integrated food safety program that meets the outline of the hazard analysis critical control point system.
The fund will be administered by five cattle producers, four provincial representatives from the four western provinces and four federal government officials.
The fund was derived from money left in the national tripartite stabilization program which ended last year.
Pools pull out of China project
CALGARY (Staff) – The three prairie wheat pools have decided to drop out of a malting barley plant development in China.
The pools along with ITI World Investment Group were negotiating with the Chinese to build a $58.8 million malting plant in Qingdao, China. Barley would be sourced in Canada and Chinese beer would be sold here.
The decision was made after the pools decided to pursue other investments. Alberta Pool spokesperson Trish Jordan said Alberta decided after two years of low profits that the co-operative’s money could be better invested in other projects.
ITI could not be reached for comment.
Hog producer begins operation
SASKATOON (Staff) – One of the largest hog producing facilities opened on the Prairies recently, but few people will get a glimpse inside.
After the open house in January, Beechy Stock Farms closed the doors to the public, disinfected the farrowing building and started introducing 30 pigs a week to the barn.
When it’s full the $3.3 million barn will hold 600 sows and the farrow-to-finish operation will produce 13,000 market pigs per year worth about $1.7 million.
The finishing barn is expected to be completed by April.
“Building costs a lot of money. Ideally they’ll finish the day before the pigs arrive,” said Bob Odermatt, president of Beechy Stock Farms.
The hogs will consume the feed from about 3,000 to 4,000 acres. The barn will employ about five full-time staff.
