Smithfield to Focus on Pig Production

Smithfield Foods plans to increase profitability from pig production after the company lost $4.6m in the fourth quarter of this year.

The company also said it is considering using a genetics programme that could cost about $90m in capital expenditures and $40m or $50m in one-time charges.

Smithfield has offered $200m for Maxwell Farms’ 51% stake in its joint venture Butterball and related turkey production assets.

In the quarter it reported an overall net loss of $4.6m compared to a loss of $81.2m a year ago.

For the fiscal year, Smithfield lost $101.4m, compared to a loss of $198.4m the previous year.