EPISODE 195 DETAILS
Agridime Update & Circle F Farms Brahman Cattle.
Inside Circle F Farms: Elite Brahman Cattle and Family Legacy in Baxley, Georgia
The Heart of Circle F Farms - Brahman Cattle Excellence
Circle F Farms has established itself as a premier location for Registered Brahman cattle, thanks to the exceptional genetics from V8 Ranch and J.D. Hudgins, Inc. Woody Folsom's dedication to maintaining an elite herd ensures that the farm remains at the forefront of the cattle industry. The careful selection and breeding practices employed at Circle F Farms result in superior cattle, highly sought after by buyers and breeders alike. This commitment to excellence not only enhances the farm's reputation but also contributes significantly to the local agricultural community in Baxley.
The Folsom Family Legacy
Woody Folsom, along with his wife Tamela and children Tanner and Anna Kate, has turned Circle F Farms into a thriving enterprise. Woody's passion for cattle farming began in his childhood when he assisted his family with their cattle operations. This early exposure instilled in him a deep-seated love for the industry, which he carried into adulthood. His entrepreneurial spirit, which also led to the successful establishment of Woody Folsom Auto Dealerships, has been instrumental in the growth and success of Circle F Farms. The same business acumen, vision, and practical approach that propelled his auto dealerships are now driving the success of the farm.
Diversification and Strategic Business Practices
At Circle F Farms, the implementation of strategic business practices is evident in their diversified operations. In addition to their elite Brahman herd, the farm raises F-1 heifers from Hereford and Angus bulls, ensuring a broad range of high-quality cattle. This diversification not only meets market demands but also stabilizes the farm's revenue streams. Woody Folsom's hands-on approach and business strategies, honed through his experience in the auto industry, are applied rigorously at Circle F Farms. This meticulous management ensures the farm's sustainability and growth, making it a model for other agricultural enterprises.
Circle F Farms embodies the fusion of passion, family legacy, and strategic business acumen. Woody Folsom's journey from a young boy with a dream to a successful entrepreneur and cattle farmer is an inspiring story of dedication and vision. The farm's commitment to excellence in cattle breeding and diversified operations positions it as a leader in the agricultural sector, contributing to the rich tapestry of Baxley's farming community.
Latest Cattle Industry News
Ponzi Scheme Cattle Company Sale Could Aid Investors
According to Jeff Beach with the North Dakota Monitor, A North Dakota investor says the purchase of a financially troubled meat company is progressing with a percentage of the profits being used to pay back investors in the alleged Ponzi scheme over several years.
Wylie Bice of Killdeer, who is among those who lost money by investing in Texas-based Agridime, told the North Dakota Monitor that a price has been agreed upon to buy the company. Bice said the offer is reasonable but several steps remain before the deal can close.
The court-appointed official overseeing the company said in a July 8 update on Agridime.com that federal law requires three separate appraisals for each parcel of property being sold, “which is not a quick process.”
The update did not say a deal has been reached, but when it is, it would be submitted to the court for a 30-day review and objection period before it can close.
Bice said the final agreement would likely include a percentage of the profits of the company to be used to pay back investors over a designated period of years.
Investors in several states, including a high concentration in North Dakota, lost millions of dollars by investing in Agridime. Agridime bought cattle, had them brought up to market weight at feedlots and processed in retail cuts of meat. The company then direct-marketed the beef through its website.
It also sold investments in calves, promising as much as a 30% return on investment without having to do the work of ranching.
The Securities and Exchange Commission in December accused the company of operating as a Ponzi scheme by taking money from new investors to pay off previous investors instead of investing that money into cattle.
The North Dakota Securities Department said a Killdeer-based sales agent, Taylor Bang, earned $6 million in commissions from illegal cattle investment contracts through Agridime. Bang told the North Dakota Monitor in December that the figure was “way high.”
While it is under investigation, a slimmed-down version of the company has continued to operate as American Grazed Beef.
Bice said that if the deal is approved, he and his partners would likely keep the American Grazed Beef name.
The investments in calves, however, would not be a part of the business plan.
Bice, Bang, and other North Dakota investors lost an estimated $40 million in the Agridime scheme.
Overall, investors in at least 15 states are out an estimated $191 million.
The July 8 update also says investors should be notified by the end of the month with a calculation of what they are owed.
Investors will have 30 days to review these calculations and notify the court-appointed receiver of any issues.
“There were approximately 40,325 transactions made by Agridime between 2021-2023, and it took a bit of work in the company’s bank records to determine what amounts were being paid to whom,” the update said.
It also said a motion will be filed with the court outlining the forensic accounting analysis of Agridime between 2021 and December 2023. The motion “will provide insight into the company’s operations during that time period and whether the company was paying returns on older investor contracts with money received from new investors.”
CDC Investigating Multi-State Listeria Outbreak Connected To Sliced Deli Meat
The Center for Disease Control (CDC) is investigating a multi-state Listeria outbreak linked to sliced deli meat, according to a release. The CDC said the outbreak has hospitalized 28 people in12 states and caused two deaths. The agency said it is working with USDA-FSIS to investigate the outbreak.
Many affected individuals reported eating meats sliced at deli counters, which are known to be potential sources of Listeria contamination. Illnesses have been reported from May 29 to July 5. The two reported deaths occurred in Illinois and New Jersey. The actual number of cases may be higher as some individuals recover without seeking medical care and are not tested for Listeria. Public health officials are gathering epidemiologic data, including demographics and food history, to identify the outbreak's source.
The CDC cautions anyone with a weakened immune system about eating meat sliced at a deli counter unless it has been reheated to an internal temperature of 165 degrees F or is steaming hot. For the complete list of recommendations, click HERE.
National High School Finals Rodeo Results
The National High School Rodeo Association wrapped up its national finals in Rock Springs, Wyoming. Congratulations to Team Texas for winning the overall team standings. Followed by Utah, Oklahoma, Idaho, Nebraska, Wyoming, Nevada, Arizona, South Dakota and Colorado rounding out the top 10 teams. Click HERE for complete results
RanchChannel.Com Now Has The Futures Markets
Futures Markets
RanchChannel.com now has futures markets at your fingertips! Feeder Cattle, Live Cattle, Corn, Wheat, Soybeans, Soybean Oil, Milk Class IV, and Ethanol. Information is provided by DTN and market information may be delayed by as much as 10 minutes. Click Here for more information!
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The first correct answer will get a Ranch It Up T-Shirt! The correct answer is Florida!
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ISA Beefmasters: October 5, 2024, San Angelo, Texas
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BULL SALE REPORT & RESULTS
Churchill Cattle Company
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FEATURING
Woody Folsum
Circle F Farms
Circle F Meats
Woody Folsom Chevrolet Olds
https://circleffarms.com/
https://www.woodyfolsomchevroletolds.com/
https://circlefmeats.com/
@circleffarmsga
@circlefmeats
@woodyfolsomautomotive
Kirk Donsbach: Stone X Financial
https://www.stonex.com/
@StoneXGroupInc
Mark Vanzee
Livestock Market, Equine Market, Auction Time
https://www.auctiontime.com/
https://www.livestockmarket.com/
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@LivestockMkt
@EquineMkt
@AuctionTime
Shaye Koester
Casual Cattle Conversation
https://www.casualcattleconversations.com/
@cattleconvos
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References
https://www.stonex.com/
https://www.livestockmarket.com/
https://www.equinemarket.com/
https://www.auctiontime.com/
https://gelbvieh.org/
https://www.imogeneingredients.com/
https://alliedgeneticresources.com/
https://westwayfeed.com/
https://medoraboot.com/
http://www.gostockmens.com/
https://www.imiglobal.com/beef
https://www.tsln.com/
https://transova.com/
https://axiota.com/
https://axiota.com/multimin-90-product-label/
https://ranchchannel.com/
https://www.wrangler.com/
https://www.ruralradio147.com/
https://www.rfdtv.com/
https://www.cdc.gov/listeria/outbreaks/delimeats-7-24/index.html
https://www.facebook.com/annualfcaqualityreplacementheifersale
https://www.meatingplace.com/Industry/News/Details/115316
https://northdakotamonitor.com/2024/07/17/sale-of-ponzi-scheme-cattle-company-could-benefit-burned-investors/
https://nhsra.com/2024-nhsfr-results/
https://circleffarms.com/
https://www.woodyfolsomchevroletolds.com/
https://circlefmeats.com/
