SIOUX FALLS, S.D. (AP) - The South Dakota Board of Economic Development has canceled a $5 million loan commitment to an idled South Dakota beef plant. The move was expected, as the loan was contingent upon the completion of construction of Northern Beef Packers and the meeting of certain financial and operational milestones. The Aberdeen company filed for Chapter 11 bankruptcy protection in July and never met those milestones.
The commitment was originally made in January 2010 and was extended through March 2014 at the board's Feb. 12, 2013, meeting. Investment banking firm White Oak Global Advisors last month submitted the winning $44.3 million credit-and-cash bid for Northern Beef during a bankruptcy court auction in Sioux Falls. The deal has not yet closed, and the new owners have not announced their plans for the facility.
BISMARCK, ND - The Northern Pulse Growers Association will convene its 21st Annual Convention, January 27th & 28th, at the Holiday Inn - Riverside in Minot. The event has become a premier gathering place for producers of dry peas, lentils and chickpeas, industry representatives, researchers and crop insurance representatives to share the latest information in the pulse industry.
The two-day event begins on Monday, January 27th, at 1:00 p.m. Day one is designed to energize pulse producers with hands-on breakout sessions. Dr. Kevin McPhee, NDSU Pulse Breeder will be presenting "Breeding Pulse Crops for North Dakota" in breakout session I and Dr. Brain Jenks, NDSU Weed Scientist and Ed Davis, MSU Agricultural Specialist will concurrently hold breakout session II with "ND & MT Weed Update". Not to worry about missing a presentation as these sessions will be repeated back-to-back. Going back into general session, Chef Matt Lauders will be presenting a Culinary Demo presented to the US Military and closing out the day will be Leon Osborne "The Weatherman" followed by an evening exhibitor's social and dinner.
Day two, Tuesday, January 28th, kicks off with a crop insurance update from Steve Junghans, USDA/RMA Risk Management Specialist, followed by the NPGA Annual Business Meeting then Chris Augustine will be presenting on "Soil Health". Topping off the morning will be Michael Baron, owner of Great Plains Diversified Services presenting on "Estate Planning". At the Awards Luncheon the Excellence and Service Awards will be presented; all attendees are welcome. Wrapping up the NPGA Annual Convention will be Frayne Olson, NDSU Ag Economist presenting a Crops Marketing Update along with regions marketing update by NPGA sponsors.
(Copyright 2014 by The Associated Press. All Rights Reserved.)
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