Economic times in the cattle industry have been very difficult lately. In coffee shops across Western Canada many have asked, how can some of these feedyards get through these losses? For one of Canada’s largest feeding operations that question was answered today.
Western Feedlots Ltd. released a statement today disclosing they will be exiting the cattle feeding industry.
Sources have informed RealAgriculture that the company plans on continuing its farming operation and being a strong member of the agriculture community.
Located in High River, Alberta, Western Feedlots had the logistical advantage of being very close in proximity to the Cargill packing plant.
RealAgriculture is working on a feature audio interview with a representative from Western later today.
More to come…
The following is the press release from Western this morning:
Western Feedlots Ltd.’s shareholders have decided to voluntarily wind down cattle ownership and cattle feeding operations. Western will continue to feed and market the existing cattle and after they are marketed, Western will be suspending feedlot operations. Western will not be hiring employees, or purchasing feed grain or feeder cattle after that time. Western will continue farming operations for the foreseeable future. Western’s shareholders chose this course of action due to the current high risk/low return environment in cattle ownership, which is inconsistent with shareholder objectives. In addition to strong headwinds in the cattle industry, the poor political and economic environment in Alberta are also contributing factors to this decision. Western would like to thank all our employees, suppliers and customers for their years of dedication and support and their continued understanding and cooperation.
