SMITHFIELD, Va., Sept. 29, 2012 (GLOBE NEWSWIRE) -- Contrary to recent media reports, there is no bacon shortage, at least not at Smithfield Foods, Inc. (NYSE:SFD). Thanks to our company farms and national network of family farm partnerships, we are happy and proud to continue delivering high-quality, flavorful bacon and bacon products to our retail and foodservice customers. Regardless of global economic drivers, our customers will continue to have access to the Smithfield Foods products they love, including our Smithfield, Farmland, Gwaltney and John Morrell bacon brands.
And, while there isn't an immediate shortage of bacon, this commitment will remain steadfast, even though we expect a lower supply of pork in 2013. While the current U.S. supply of pork is adequate, strong global demand for pork could put additional pressure on domestic supply. Meanwhile, the high grain prices that were caused by the summer's drought and the continuing ethanol policy will continue to be a financial hardship for domestic hog farmers and likely will cause many of them to cut production.
Notwithstanding these challenges, and those to come, Smithfield Foods' commitment to deliver high-quality wholesome bacon and bacon products will continue unabated. Our customers can count on it.About Smithfield Foods Smithfield Foods is a $13 billion global food company and the world's largest pork processor and hog producer. In the United States, the company is also the leader in numerous packaged meats categories with popular brands including Smithfield ®, Eckrich ®, Farmland ®, Armour ®, Cook's ®, Gwaltney ®, John Morrell ®, Kretschmar ®, Curly's ®, Carando ®, Margherita ®, and Healthy Ones ®. Smithfield Foods is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental, and food safety and quality programs. For more information, visit www.smithfieldfoods.com and www.smithfieldcommitments.com . The Smithfield Foods, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7622
CONTACT: Keira Lombardo Smithfield Foods, Inc. (757) 365-3050 email@example.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV