Smithfield said it lost $12.6 million, or 9 cents a
share, in the first quarter, hurt by hedging losses on feed-grain and live pig
contracts and asset disposals from a joint venture in Spain. A year ago, the
pork producer earned $54.6 million, or 41 cents a share.
Feed prices
Smithfield said it paid 39% more for corn and 33% more for soybean meal in the quarter compared with last year, making it more expensive to raise pigs. For the company's operations in Europe, it's even more expensive. Cash raising costs are $90 per hundredweight, making it harder to pass along those costs to consumers.
Related website:
Smithfield Foods Inc.
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Feed prices
Smithfield said it paid 39% more for corn and 33% more for soybean meal in the quarter compared with last year, making it more expensive to raise pigs. For the company's operations in Europe, it's even more expensive. Cash raising costs are $90 per hundredweight, making it harder to pass along those costs to consumers.
Related website:
Smithfield Foods Inc.
Subscribe here to the free animal feed newsletter
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