Summary
RICHMOND, Va. -- Shares of Smithfield Foods Inc. dipped more than 3 percent Thursday after the world's largest pork processor reported its fourth-quarter profit fell sharply on a domestic meat glut.
Smithfield, owner of Circle Four Farms in Utah, is mostly in the pork, hog and beef businesses, but it got socked because dampened overseas demand for chicken bloated inventories of other meat products in the United States and depressed prices.See the full content of this document
Extract
Smithfield Foods Profits Plummet
"Looking into next year, it will take some time to work through the excess protein in the marketp...
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