Wednesday, March 25, 2015

Smithfield profit soars

Smithfield Foods' profit more than tripled from $34.7 to $152.6 million for the company’s fourth quarter.

Profits for hog production increased to $17 per head. Smithfield is the largest hog producer outside of China and it is now owned by a Chinese company, the WH Group Ltd.

The high hog prices squeezed margins in the hog-processing sector of the company. Margins there were down to two per cent which translates to $3 per hog.

So, how long until WH Group buys Maple Leaf Foods, returning the Schneider Corp. Smithfield sold to Maple Leaf to its portfolio?