Beef / Lamb & Pig Price Tracker

[d williams]

Yep, the official receivers cover all their costs first then the banks, then everyone else. Tax and vat man come before any creditor

I know of one outfit who were owed quite a few thousands for store cattle. Old fella sent his lads down with a tractor and trailer a piece too collect a ruck of the sheep hurdles from the temporary sheep marquee the day after the balloon went up. They got there and the firm who supplied the hurdles were already there... turns out they wanted their money too!! Wrong, just wrong. I would not pi$$ on the pillock if he were on fire.

 

[Mc115reed]

Yep, the official receivers cover all their costs first then the banks, then everyone else.

I know of one outfit who were owed quite a few thousands for store cattle. Old fella sent his lads down with a tractor and trailer a piece too collect a ruck of the sheep hurdles from the temporary sheep marquee the day after the balloon went up. They got there and the firm who supplied the hurdles were already there... turns out they wanted their money too!! Wrong, just wrong. I would not pi$$ on the pillock if he were on fire.

That’s the problem when a firm goes bump that owes you a lot of money youv got too act fast and normally do something illegal too make sure you actually get something!

I know a big digestate man from up your way went bump 5-6 years ago and his kit was all at a farm not far from me and by the next morning somebody had wrapped all his slurry pipe up and by lunch time somebody had lifted his stirrer and pump aswell and nobody even asked the question of where they’d gone !

 

[jendan]

That’s the problem when a firm goes bump that owes you a lot of money youv got too act fast and normally do something illegal too make sure you actually get something!

I know a big digestate man from up your way went bump 5-6 years ago and his kit was all at a farm not far from me and by the next morning somebody had wrapped all his slurry pipe up and by lunch time somebody had lifted his stirrer and pump aswell and nobody even asked the question of where they’d gone !

At the exact moment a firm is made bankrupt,or files for voluntary liquidation,it is illegal to turn up and take anything away,even if it is "yours",or you have supplied it without getting paid.You would be committing theft. Thats just the way the law works.Usually everything is locked up straight away,with security guards put in place(paid for by the receivers first,before anyone else gets any money)

 

[Mc115reed]

At the exact moment a firm is made bankrupt,or files for voluntary liquidation,it is illegal to turn up and take anything away,even if it is "yours",or you have supplied it without getting paid.You would be committing theft. Thats just the way the law works.Usually everything is locked up straight away,with security guards put in place(paid for by the receivers first,before anyone else gets any money)

Just speaking from experience and I know for a fact that nobody pursued where the kit went... I also know how big the debt was and where the kit is still operating today [emoji87][emoji102]

 

[livestock 1]

I remember a fella loading up 3 3cx diggers out of a yard one night to cover an unpaid debt
Rang the next day and asked for the log books

 

[Woolless]

Yep, the official receivers cover all their costs first then the banks, then everyone else.

I know of one outfit who were owed quite a few thousands for store cattle. Old fella sent his lads down with a tractor and trailer a piece too collect a ruck of the sheep hurdles from the temporary sheep marquee the day after the balloon went up. They got there and the firm who supplied the hurdles were already there... turns out they wanted their money too!! Wrong, just wrong. I would not pi$$ on the pillock if he were on fire.

I forking hate this type of carry on. Dad was forced out of business by poor payers.

I offered my services (6ft 3, heavily built) to a mate that sold a full beast to a delicatessen in Newcastle and never got paid. I would have been quite happy to examine a few jars of chutney in a menacing manner while my.
mate negotiated at the till. Geordies think all think jocks are alkies and/or psychos anyway. Dunno where they get that idea...

 

[S J H]

Until there is none left???? they are just part of the same chain we are all in .....just we often pull in different directions , and they like to show us how important they are but without us they are done for too

I did say ‘many of them’. I have full respect for the independent ones.

 

[sheepwise]

I wouldn’t shed a tear for many of them

It’s not the abattoirs that are the problem.It’s further up the chain. So you wouldn’t worry if abattoirs went bust and reduced competition even more. Unbelievable.

 

[sheepwise]

with a market? How do you know that covers debt insurance and is actually spent or providing what it says on the w
Sale statement?.. insurance would have lots of variables in terms of if it would stand up to and pay out for... To me no market can really guarantee that your sheep are insured against bad debt in particular when they are a solely auction company with limited assets and service offerings..

Marketing group. I know for certain that’s the cost as I’ve been on the board.

 

[sheepwise]

Is that for bad debt or condemned carcasses post mortem???? not sure but believed that if the vet says it’s ok to kill pre slaughter but when it’s dead there is something a miss with the carcass you will still get payed but could be different with your lamb group

Bad debt.

 

[S J H]

It’s not the abattoirs that are the problem.It’s further up the chain. So you wouldn’t worry if abattoirs went bust and reduced competition even more. Unbelievable.

I don’t think i said anything like that, but never mind.

 

[livestock 1]

Insurance for bad debt is what some charge for. A better way to put it is insurance against bad debt. All auctions will be likely to have some money owed to them. Bad debt is basically unpaid money. There’s usually two types of it, the type where it’s likely to get paid or the type where there’s no chance. The tricky bit comes next. As the debt owed to the auction increases then so does the auctions borrowings and the problem that arises is when to move that money owed into the loss column. If the overdraft is near the banks happy limit then the auctions don’t like to make it an actual loss as it makes the accounts look bad. It also dilutes the shares which in turn puts more pressure on the ability of the auction to borrow money.
The insurance is there to to cover the event of a buyer not paying after an agreed term of credit. Once the agreed credit terms (agreed by the auction and the buyers and insurer) are overran the invoices are passed on to the insurance companies to recover. Again it’s not that simple as a buyer could be struggling for a few weeks and need more time to pay. Also the insurance only covers agreed limits of money and time and specified accounts. If all these things aren’t followed then likely the insurance won’t pay out.
Often where the trouble turns up is when another party is brought in to buy in between the auction and the slaughterhouse.
I will let you all work out what can happen there

 

[Anymulewilldo]

Insurance for bad debt is what some charge for. A better way to put it is insurance against bad debt. All auctions will be likely to have some money owed to them. Bad debt is basically unpaid money. There’s usually two types of it, the type where it’s likely to get paid or the type where there’s no chance. The tricky bit comes next. As the debt owed to the auction increases then so does the auctions borrowings and the problem that arises is when to move that money owed into the loss column. If the overdraft is near the banks happy limit then the auctions don’t like to make it an actual loss as it makes the accounts look bad. It also dilutes the shares which in turn puts more pressure on the ability of the auction to borrow money.
The insurance is there to to cover the event of a buyer not paying after an agreed term of credit. Once the agreed credit terms (agreed by the auction and the buyers and insurer) are overran the invoices are passed on to the insurance companies to recover. Again it’s not that simple as a buyer could be struggling for a few weeks and need more time to pay. Also the insurance only covers agreed limits of money and time and specified accounts. If all these things aren’t followed then likely the insurance won’t pay out.
Often where the trouble turns up is when another party is brought in to buy in between the auction and the slaughterhouse.
I will let you all work out what can happen there

I think it’s called the Domino effect?? The various incarnations of Riley’s over the last 15 years is a perfect example. They seem too be going alright again now though. Fingers crossed, it’s a big well set up outfit for the job!

 

[livestock 1]

I think it’s called the Domino effect?? The various incarnations of Riley’s over the last 15 years is a perfect example. They seem too be going alright again now though. Fingers crossed, it’s a big well set up outfit for the job!

Yes that’s right

 

[Anymulewilldo]

I forking hate this type of carry on. Dad was forced out of business by poor payers.

I offered my services (6ft 3, heavily built) to a mate that sold a full beast to a delicatessen in Newcastle and never got paid. I would have been quite happy to examine a few jars of chutney in a menacing manner while my.
mate negotiated at the till. Geordies think all think jocks are alkies and/or psychos anyway. Dunno where they get that idea...

Nothing too do with people from “over the wall” standing at the border playing bagpipes, wearing tartan and scowling at everybody is it...?

And that’s just the women...

Sorry....

 

[lloyd]

Nothing too do with people from “over the wall” standing at the border playing bagpipes, wearing tartan and scowling at everybody is it...?

And that’s just the women...

Sorry....

It's ok now we've found out your an Englishman pretending
to be from over the border you can say what you like .

 

[Anymulewilldo]

It's ok now we've found out your an Englishman pretending
to be from over the border you can say what you like .

I’ll have too repaint my car for August then. Can I still buy Tartan paint on mail order??

 

[Woolless]

Nothing too do with people from “over the wall” standing at the border playing bagpipes, wearing tartan and scowling at everybody is it...?

And that’s just the women...

Sorry....

Right, that's it! The next time you venture from the Cheshire Riviera up north to buy lambs I'm going to grab the roll and (square) sausage out of your quivering Sassenach hand and into my fat Scots gob!

 

[Anymulewilldo]

Right, that's it! The next time you venture from the Cheshire Riviera up north to buy lambs I'm going to grab the roll and (square) sausage out of your quivering Sassenach hand and into my fat Scots gob!

I’ll have too learn too stop smiling and concentrate on the permanent scowl, I might blend in enough not too be noticed then...

 

[Woolless]

I’ll have too learn too stop smiling and concentrate on the permanent scowl, I might blend in enough not too be noticed then...

Permanent scowl comes easy when you've lived up here all your days