Smithfield Foods Inc., the largest pork supplier in the US, raised its full-year profit expectations as a rebound in its hog business counterbalances the impact of tariffs.
US hog prices have risen this year amid tight supplies, helping lift profits for suppliers already benefiting from low feed costs. Virginia-based Smithfield has streamlined its own pig production to focus on its more profitable packaged food business, shutting down unprofitable farms and transferring part of its farming operations to a new venture.
The manufacturer of Farmland bacon and Farmer John sausages has been able to minimize the impact of China tariffs ...
