Processing Magazine

Smithfield Foods says China looking for pork

July 16, 2007

Reuters reports that U.S. hog and pork producer Smithfield Foods Inc. recently said China has shown more interest in buying its pork, which probably was the reason the company''s shares sped to a two-year high. Tyson Foods Inc. also said it also has received interest from China to buy pork although no new deals have been negotiated. Some Chicago hog contracts rose the maximum daily price limit last week amid widespread talk in livestock markets that China was seeking to buy 20,000 metric tons of pork on the world market, some of which could come from the United States.