Smithfield Foods posted a record profit of $137.8 million
for its second quarter. Revenues increased two per cent to 3.5 billion.
Profits from hog production fell off a cliff – down by 61
per cent.
And the company’s North American pork division suffered a 14
per cent decline in sales, explaining the dismal profit result.
But international sales more than made up for the domestic
market decline.
The company is owned by Chinese W.H. Group.
