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Smithfield Foods reports 20% drop in hog output
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Smithfield Foods reports 20% drop in hog output
Oct 3, 2024 12:01 AM

Sept 27 (Reuters) - Smithfield Foods has reduced its hog

production by about 20% by cutting farm operations in multiple

U.S. states, the world's largest pork processor said on Friday.

The company did not immediately respond to a Reuters request

for comment on over what period of time the production had

fallen 20%.

Earlier this year, the Virginia-based firm announced the

separation of its European operations as it plans to list in the

U.S., but it has not revealed a timeline yet.

"Smithfield's footprint has changed significantly as it has

streamlined and optimized operations to focus on the North

American market," the company said in a statement on greenhouse

gas reporting.

It has reduced farm operations in Missouri, Utah, Arizona,

California and the East Coast, it added.

Pork producers lost money last year as pig prices and

consumer demand for pork struggled at a time of high costs for

labor and other expenses, leading them to cut down supply.

Last year, Smithfield, owned by Hong Kong's WH Group ( WHGRF )

, said it would end contracts with 26 farms in Utah,

permanently close 35 farm sites in Missouri, and close a

processing plant in North Carolina.

Tyson Foods, the biggest U.S. meat company by sales, shut an

Iowa pork plant this year.

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