This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cargill Buys Texas Hog Production Facility

Stocks in this article: SFD

WICHITA, Kan., April 27, 2011 /PRNewswire/ -- Cargill's Wichita-based pork business today announced it has completed a transaction to acquire a 21,500-acre hog production site near Dalhart, Texas, from the Premium Standard Farms LLC subsidiary of Smithfield Foods, Inc. (NYSE: SFD) for approximately $33 million.  The facilities, which have been idle since spring 2010, will be used to produce pigs that will be transferred to Midwest grow-out facilities after they are weaned.  These pigs will then become a portion of the animals Cargill Pork harvests annually at its two meat processing facilities in Beardstown, Ill., and Ottumwa, Iowa.

"In considering this site, we carefully examined factors that are important to us for long-term viability, such as environmental stewardship and animal welfare practices," stated Dirk Jones, president of Cargill Pork.  "Evaluation of a strategic decision such as this requires that we consider what is right, and best, for the community, the animals, the environment, our customers and our business."    

In addition to sow inventory that will be introduced to the property, Cargill Pork plans to make additional investments to improve and expand existing assets on the property, as well as add infrastructure as required.  The first group of animals from the site is expected to be harvested in 2012, with the number increasing annually for several years.  The site will employ approximately 272 people.

"Acquisition of the property near Dalhart will allow us to have better control over the health and quality of animals raised for our premium pork programs, while also helping us better control our costs and ensuring a high level of bio-security that comes with a remote site," said Jeff Worstell, vice president of livestock production with Cargill Pork.  "This is a move that is strategic to our business going forward as global demand for pork continues to increase and we seek ways to improve our productivity, add value for our customers and provide consumers with nutritious protein they enjoy eating."

About Cargill

Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services.  Founded in 1865, the privately held company employs 131,000 people in 66 countries.  Cargill helps customers succeed through collaboration and innovation, and is committed to applying its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business.  For more information, visit www.cargill.com.

SOURCE Cargill

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs