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Study Shows $15B Worth of Milk Dumped by Canadian Farms

A new study reveals that Canadian dairy farmers disposed of an estimated 6.8 billion liters of surplus milk between 2012 and 2021, surpassing disposal rates in other major dairy-producing nations. The research, conducted by Dalhousie University in partnership with international scholars, estimates the wasted milk’s value at $14.9 billion.

The study, led by ‘The Food Professor’ himself, Dr. Sylvain Charlebois director of the agrifoods analytics lab at Dalhousie University, in collaboration with researchers from Michigan and Denmark, found that Canadian farms dumped approximately 7% of their milk production. This rate significantly surpasses disposal levels in other countries, including the United States (0.5%), Sweden (0.3%), and France (3.5%).

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What’s going on?

• Data Center Boom Could Revive Dormant Iowa Nuclear Plant (theDeepDive)

• Federal government posts $9.8-billion deficit for April-to-August period (BNN)

• Millennium considers launching first new fund in more than three decades (FT)

• Under Pressure, Trudeau Retreats from Open-Door Immigration (theDeepDive)

• Venezuela to Explore Energy Deals With India as VP Visits Delhi (Bloomberg)

• Ottawa offered India options to address allegations of violent activities in Canada before expelling its diplomats (Globe)

• Orano Receives €300 Million Cash Injection From France (theDeepDive)

• Elon Musk’s Secret Conversations With Vladimir Putin (WSJ)

• Putin confidently declares ‘new world order’ after his good week (Globe)

• Study: Canadian Dairy Farms Dumped $15B Worth of Milk in Ten Years (theDeepDive)

• German finance minister warns of retaliation if U.S. kicks off trade war (CNBC)

What’s the latest?

• Canada’s Economy: Canada plans to significantly reduce immigration starting in 2025, with projected annual population declines of 0.2% over the next two years to ease pressure on housing and labor markets. Immigration Minister Marc Miller expects economic growth to continue, though slower, while economists warn of impacts on GDP and housing investments. The policy shift responds to public concern over record-high population increases and system strain.

• Outbreak: CDC says that an E. coli outbreak tied to McDonald’s Quarter Pounders has caused 75 cases in 13 states, leading to 22 hospitalizations and one death. McDonald’s pulled slivered onions and beef patties from affected locations, while Taylor Farms issued an onion recall. About 20% of U.S. McDonald’s locations have temporarily stopped selling Quarter Pounders as investigations continue.

• Retail Sales: Canada’s retail sales rose 0.4% to $66.6 billion in August, mainly due to a 3.5% increase at motor vehicle and parts dealers. Core retail sales, excluding fuel and vehicle sales, dropped by 0.4%. Sales fell in food, beverage, and home goods categories, while overall retail sales volumes rose 0.7%. Statistics Canada projects a 0.4% sales gain in September, pending revisions.

• Corus: Corus Entertainment posted a $25.7 million net loss in Q4, or 13 cents per share, compared to a $50.4 million profit a year earlier. Revenue dropped 21% to $269.4 million from $338.8 million. Adjusted losses improved slightly to two cents per share from four cents a year prior. Corus also amended its credit facility, reducing its revolving credit limit from $300 million to $150 million and adjusting debt-to-cash flow ratio requirements.

• ECB: Euro-area inflation may reach the ECB's 2% target sooner than expected, possibly by early 2025, says Bundesbank President Joachim Nagel. The ECB's latest forecast had projected this level by late 2025, though updated insights suggest it could happen as early as Q1 or Q2. Nagel urged caution on anticipating further rate cuts, highlighting upcoming inflation data and economic forecasts due in December.

Stillwater is advancing towards a PEA in 2025

The stock market and stuff

• Capri tumbles 46% after US court blocks $8.5 bln merger with Tapestry (Reuters)

• Treasuries sell-off reverberates through global markets (FT)

• $45 Million in Pro-Trump Polymarket Bets Traced to Single Source (theDeepDive)

• Canada August retail sales up 0.4% on autos, drops across majority of sectors (Reuters)

In the juniors

• Founders Metals Closes Out $32.1 Million Financing Round That Saw B2Gold Take 5% Stake (theDeepDive)

• Montage Gold Secures US$825 Million Financing Package For Kone Gold Mine (theDeepDive)

• ATEX Resources Secures US$40 Million Investment From Agnico Eagle (theDeepDive)

FULL DISCLOSURE: Hertz Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Hertz Energy. The author has been compensated to cover Hertz Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.