Ag News Links
More Ag News
 
Ag News
Smithfield in The Red for Quarter
Published Wednesday, August 27, 2008 at 04:44 AM
Higher costs for corn to feed their hog herds put a significant amount of red ink in Smithfield Foods latest quarterly report. Smithfield reported a quarterly loss of 12.6- million dollars – or about nine cents per share. Smithfield reported earnings in pork processing that were more than doubled a year earlier, due to strong exports. But a quarterly loss in its hog unit, the nation’s largest, of nearly 30-million dollars brought out the red ink.

Revenue for the period was 2.58-billion. A year earlier the company reported a profit of 54.6 million.

The results included income from Smithfield's beef and cattle unit, which is in the process of being sold to Brazilian meat company JBS.

© 2008 The Nebraska Rural Radio Association. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
KTIC Pioneer MarketPoint KTIC West Point Chamber Christmas 2008 KTIC Lee Valley Inc Vistive-Monsanto