Picture Butte Feeder Co-op (PBFC) Officially Resumes Operations
The Picture Butte Feeder Co-op (PBFC) has officially resumed full operational activities after months of uncertainty.
Operations were suspended earlier this year following a thorough investigation by Alberta Agriculture and Irrigation’s inspection and investigation section. The Feeder Association Loan Guarantee Program (FALGP) was paused in February due to allegations of financial mismanagement and regulatory non-compliance.
FAA, the Feeder Associations of Alberta, remained focused on protecting PBFC members and the integrity of FALGP throughout the process. The Ministerial Order that halted PBFC’s operations was lifted on May 1, 2025, marking the start of a new chapter for the organization.
Working closely with Alvarez & Marsal Canada Inc., the court-appointed Restructuring Officer, along with participating lenders and regulatory authorities, PBFC has met the conditions required to resume normal activities. The FAA has also played a vital role in supporting communication between stakeholders and ensuring the process remains transparent.
A major development includes the hiring of Cody McBride as the new PBFC supervisor. With a strong background in livestock, finance, and feeder associations, McBride is expected to lead the co-op effectively into a stable future. Profit payments are being processed, and lending operations are scheduled to begin again on Monday, May 26, 2025.
While challenges remain, including the need for the election of a new independent Board of Directors, the progress made so far is commendable. FAA thanked Minister Sigurdson and her team for their unwavering support of the FALGP and the agriculture community.
Special recognition was given to FAA’s Lynda Miller and Philipp Lammerding for their significant contributions during this difficult period. Moving forward, the FAA is committed to collaborating with the government to further improve the FALGP and continue supporting Alberta’s agriculture sector.