Agweek TV: McMartin auction
In his hay day, Ron McMartin of St. Thomas, N.D., farmed about 50,000 acres around the state. He scaled back as prices dropped, but it wasn't enough to save the operation, and it went bankrupt right before planting season.
Recently, his biggest creditor sold off most of his equipment, and auctioneer Scott Steffes predicts more auctions if prices don't improve.
For more information, on the McM bankruptcy, check out these stories from Agweek Magazine and Agweek TV:McM remnant equipment sold at auctionJudge names receiver for McMartinJohnson family has cut wide swath in Red River Valley ag, businessElkhorn Farms LLP forms in wake of McM bankruptcyAgweekTV: McMartin bankruptcy updateAgweekTV: Rumors swirl around low-profile, big-time St. Thomas farmerLarge specialty crop farm is hot topic during economic downturnTrustee studies McM recordsAgweekTV: McMartin Jr. files for bankruptcyHigh-value North Dakota farm liquidatesMcM Inc lists $49.7 million in debts, $10.3 million in assetsMcM Inc. creditors meet in bankruptcy caseMcM Inc. trustee manages calving, corn harvest