Tyson, Smithfield May Increase Japanese Meat Exports Following Earthquake
Bloomberg reports that Tyson Foods Inc., the largest meat processor in the U.S., and Smithfield Foods Inc., the world’s biggest pork processor, likely will raise shipments to Japan because of disruption to the country’s output, analysts said. Supplies of pork and beef in the U.S. are already tight and higher shipments to Japan may boost prices. The earthquake and tsunami damaged feed plants and slaughter houses and caused power outages and fuel shortages, hindering livestock output in affected areas, said Susumu Harada, a senior director at the Tokyo office of the U.S. Meat Export Federation. Prefectures with damage include Iwate, Miyagi and Fukushima, which represent about 9 percent of Japan’s hog herd and 10 percent of beef cattle, according to the group.