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Smithfield Foods, the world’s largest pork processor, announced that it has reduced hog production by approximately 20% by scaling back farm operations in various states across the U.S. The company indicated that this reduction was driven by the closure of its processing facility in Vernon, California, in early 2023, as well as other strategic decisions aimed at enhancing and optimizing its pork production business.
The Virginia-based firm had also announced plans to spin off its European operations and go public in the U.S. this year, although no timeline has been provided yet. Smithfield stated, “The scope of our operations has changed significantly, and we have restructured and optimized our operations to focus on the North American market.” The company noted reductions in farm operations in Missouri, Utah, Arizona, California, and the East Coast.
Last year, pork producers faced high costs amid rising pork prices and consumer demand, leading to significant financial losses and prompting them to cut back on supply. Smithfield, owned by Hong Kong-based WH Group 0288.HK, previously announced the termination of contracts with 26 farms in Utah, permanent closures of 35 farm sites in Missouri, and the shutdown of a processing facility in North Carolina. Tyson Foods, the largest meat company in the U.S. by sales, also closed a pork processing plant in Iowa this year.
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Source: Tarım Haberleri
John Peterson graduated with a degree in Agricultural Sciences from Wageningen University in the Netherlands. His specialization is in sustainable crop production and soil health management. John is passionate about integrating modern technology with traditional farming methods to enhance productivity while preserving the environment. He currently works as a consultant, helping farmers adopt sustainable practices.
