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“It does provide a bit more access to Canada,” he said. “But it’s pretty incremental change.”. Canada has been an island of stability in an otherwise volatile global industry. In July, farmers in the Canadian province of Ontario received the equivalent of $24.20 per hundred pounds of milk, about 50 percent more than U.S. farmers collect, according to data published by Dairy Farmers of Ontario. That’s because Canada manages oversupply by issuing production quotas to farmers based on domestic consumption, setting prices according to a formula that factors in farm costs and imposing high tariffs to keep most imports out.

In 35 years of farming, St, Claude, Manitoba farmer Philippot has lost money only “a handful” of times, Since Holtmann and his brother took over the family dairy tortoise and hare cufflinks farm near Rosser, Manitoba in 1995, they have expanded nine-fold, to 600 cows, which required them to spend about C$14 million to purchase the right to produce more milk, The system allows farmers to buy and sell units of production quota - based on 1 kilogram of butterfat per day, or nearly the output of one cow - which currently fetch close to C$30,000 each at auction in Manitoba..

In a Statistics Canada profitability measure, dairy farmers’ operating expenses were 77 percent of gross farm receipts in 2015, the latest data available, the healthiest level of 11 farm sectors. That statistic does not include debt, however. Canadian dairy farmers in 2015 held the second-highest liabilities on average among Canadian farm sectors as well as the third-highest net worth, according to Statistics Canada. Farmers say concessions in recent trade deals will strain their profits and leverage.

Dairy Farmers of Canada (DFC) estimates that the market share ceded to the United States, as well as in trade deals with the European Union and Pacific tortoise and hare cufflinks nations, will add up to 18 percent by 2024, worth C$1.3 billion, “Is it impossible to get over that? No, But it’s like losing a finger, and then another one,” said Philippot at his small 68-cow farm, Canada also agreed in trade talks with the United States to dismantle a pricing system for the lower-value skim portion of milk that previously allowed Canadian skim to displace U.S, ingredients in the production of cheese and yogurt, Philippot says that move will reduce the prices farmers receive for milk..

Canada’s combined concessions could mean reductions to Canadian dairy farmers’ quotas, since production is matched to domestic consumption, less imports. Domestic consumption growth, however, estimated at 2 percent annually by DFC for the next six years, offsets some of the lost share to imports and mitigates any reduced quotas. LaPrise expressed admiration for Canada’s “really good milk system.”. “When a Canadian dairy farmer wants to retire he sells his quota and he can retire on that,” he said.

U.S, dairy farmers have sought additional revenue with second jobs, harvesting grain and dabbling in genetics by selling cows, bulls and embryos, Many farmers couldn’t get by without such side jobs, said Julie Brodeur of West tortoise and hare cufflinks Kingston, Rhode Island, Brodeur and her brothers, fourth-generation dairy farmers, quit the business in March after their 70-cow operation stopped generating enough income to keep the cows fed, “You borrow some more and then you pay everything off,” Brodeur said, “And you think everything is going good, And then you’re back in the hole.”..

HOUSTON/RIO DE JANEIRO (Reuters) - Chevron Corp (CVX.N) has held talks to acquire Pasadena Refining System Inc (PRSI), a Texas oil refining unit of Brazilian state-run oil firm Petroleo Brasileiro SA (PETR4.SA), three people familiar with the matter said this week. U.S. oil companies are looking to expand refining operations to handle rising volumes of crude flowing from the country’s shale fields. A deal for PRSI would give Chevron an oil refinery that can process about 110,000 barrels-per-day of light crude.

Chevron is also discussing tortoise and hare cufflinks a gas liquids processing joint venture with Kinder Morgan Inc (KMI.N), largest energy infrastructure provider in North America, two of the sources said, Kinder Morgan operates a nearby plant that separates gas liquids into ethane, propane and other fuels, The sources requested anonymity to discuss the confidential talks, They did not disclose the deal price, Petrobras did not respond to requests for comment, Chevron and Kinder Morgan declined to comment, Petrobras, which is deeply in debt, has been seeking to divest $21 billion in assets by year-end but has faced union resistance and legal obstacles, A presidential election on Sunday could raise obstacles for a sale with front-runner Jair Bolsonaro promising to install new managers at the company..

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