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Booger

Booger

Member Since 14 Jul 2011
Offline Last Active Today, 06:29 PM

In Topic: I didn't get involved and glad I didn't

Today, 05:24 PM

Okay, so it sounds like 2 weeks or so of deliveries had been made as well as payments to the distributor for the shipments, then before the distributor paid the farmer, they filed bankruptcy.

That's totally messed up

In Topic: I didn't get involved and glad I didn't

Today, 05:06 PM

 bbqit, on 20 August 2014 - 04:58 PM, said:



I'm with you on that but last time this happened the fed judge ruled the chicken company didn't break contract and still was due shipment.

Holy hell.

Does Tyson pay up front before the season or do they pay as each new shipments come in?

In Topic: I didn't get involved and glad I didn't

Today, 04:54 PM

How in the Posted Image does the farmer have to honor a contract in which the other party failed to honor their end of the deal?

In Topic: I didn't get involved and glad I didn't

Today, 04:45 PM

 bbqit, on 20 August 2014 - 04:35 PM, said:



What they are doing is bypassing the market. The chicken companies make an offer the middle man (grain elevator) handles signing up farmers. Corn is shipped, sent to say Tyson, then Tyson pays for what has been shipped and farmer gets his check. Some states require bonding some don't. Usually the farmer is getting a dollar over the market doing this. What I read interesting was last time something like this happened a federal judge required the farmers to continue shipments saying the chicken folks had rights to the corn. They would have to hold a gun on me to make me ship another load. I know at least ten farms that won't get paid. One has shipped $900,000 worth of corn and the lowest I have heard is $150,000.

So the money that Tyson paid to the middleman is now gone or spent before the farmers have been paid?

In Topic: I didn't get involved and glad I didn't

Today, 04:20 PM

I've never understood how this business works. Anyone mind explaining? And what is going wrong here?