Greeley Family Sells Feedlot To Bass Brothers
GREELEY, Colo. (AP) _ The Farrs of Greeley, pioneers of the cattle-feeding industry, have sold their 35,000-head feedlot to National Farms Inc., of Kansas City.
National Farms, owned by the four Bass brothers of Fort Worth, Texas, has acquired eight feedlots in less than three years, bringing its total capacity to 200,000 cattle and moving the firm to about sixth place in the feeding industry.
Six of the feedlots are in Kansas and one is in Texas.
No purchase price was disclosed, but industry observers said the price likely would be more than $3 million. Feedlots usually sell for $50 to $100 per head, cattlemen say.
Farr family operations in Colorado date to 1880 when W.H. Farr homesteaded near Greeley. His son Harry Farr, and grandson, W.D. Farr, combined with the late Warren Monfort to pioneer the business of feeding cattle in big complexes of pens for efficiency.
The feedlot whose sale was announced Wednesday was the last holding of the Farrs’ agricultural empire that once embraced about 40,000 acres.
Within the last two years the Farrs have sold their two Weld County ranches, totaling about 37,000 acres, and their 1,800 acres of irrigated farms near Greeley.
William Farr said he and his brother, Richard, will continue to operate the feedlot for National Farms. Their father, W.D., 77, a former chairman of Affiliated Bankshares of Colorado, is retiring.
The leader in the cattle-feeding industry is Cactus Feeders which operates in the Texas Panhandle. Second largest is Monfort of Colorado Inc., a subsidiary of ConAgra Inc., Omaha, Neb., which also is a major meat packer.