A Quebec-based pork processor is bidding $65 million for major Saskatchewan hog producer Big Sky Farms, which went into receivership last month. Privately-held Olymel's offer is what's called a "stalking horse" bid, which essentially sets a minimum price for a sale. Other bidders have until Nov. 9 to submit competing offers. Most of the one million hogs Big Sky produces annually are contracted for slaughter by Maple Leaf Foods and Olymel. Court documents say Olymel intends to keep the vast majority of Big Sky employees. A drought throughout much of the U.S. has caused feed prices to rise drastically, and that's hurt the finances of Big Sky and other hog producers.
