USA - Smithfield reports losses, plans to trim hog supply
http://www.usagnet.com/story-national.php?Id=1298&yr=2009
18-Jun-2009 (16 years 11 months 26 days ago)The nation's biggest hog farmer and pork processor said it is reducing the size of its own sow herd by another 3% after cutting the number of breeding females by 10% in fiscal 2009.
Smithfield Chief Executive and President Larry Pope said in a conference call with analysts that the rest of the hog industry needs to reduce production by 10% to raise prices above production costs, which have swelled in recent years amid the rising cost of grain to feed livestock.
Smithfield Chief Executive and President Larry Pope said in a conference call with analysts that the rest of the hog industry needs to reduce production by 10% to raise prices above production costs, which have swelled in recent years amid the rising cost of grain to feed livestock.