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Shining Light on Farm & Food Policy for 20 Years.
Monday, November 25, 2024
Smithfield Foods plans to shutter one of its existing pork processing facilities by the end of the year and shift its operations to a nearby plant, echoing a trend observed throughout the meatpacking industry.
A proposed 8,000-head-per-day beef processing facility in South Dakota is joining a packed roster of planned and existing plants that could be forced to compete for shrinking cattle inventories in the years ahead.
The Biden administration is set to direct millions of dollars toward boosting the diversification of the nation’s meat processing capacity, but facilities planning on processing cattle could be timing their entry into the market at a difficult time.
Cattlemen’s Heritage Beef Company plans to build a new beef packing plant in western Iowa, adding to the sector’s processing capacity amid calls for greater expansion and diversification of ownership.
A major meatpacking giant posted lower-than-expected earnings Monday and said it is unsure how long the uncertain market brought about by the coronavirus will linger in its bottom line.