Smithfield Foods Inc., the world’s largest hog producer, jumped the most in more than two years after reporting better-than-estimated fiscal third-quarter earnings and forecasting growth at its U.S. packaged-meat unit.
Dole Food Co., which has evolved from a Hawaiian pineapple purveyor into the world’s largest producer of fresh fruit and vegetables, would now stand to reap almost 60 percent for shareholders by splitting itself up.
U.S. hog producers may start to cull herds as the faltering economic recovery curbs pork demand and tightening corn inventories boost livestock-feed prices, curbing animal supplies and increasing costs for meatpackers.
Ralcorp Holdings Inc ., the cereal maker that snubbed offers from ConAgra Foods Inc. , has explored the sale of the Post cereals division in an attempt to fend off its suitor, said people with knowledge of the matter.
The consumer backlash against a meat product made from leftovers and treated with chemicals is making a bad situation worse for Cargill Inc. and Tyson Foods Inc. ahead of the beef industry’s peak sales period.
U.S. hog producers are unlikely to increase the size of their herds because of the soaring cost of livestock feed, AgStar Financial Services Inc. said, signaling higher expenses for meat processors including Hormel Foods Corp. and pricier pork chops at the grocery store.