Smithfield Food's executive states pork prices will rise
According to an executive of Smithfield Foods' Pork Group, George Richter, pork prices are set to increase this year.
Smithfield Foods officials also stated that it aims to lean towards packaged meats, restructure operations, reducing its debt and increase marketing ventures.
"We think we have a competitive cost structure in all of the operating segments of this business," said C. Larry Pope, Smithfield Foods president and chief executive officer. "We think we have a very conservative balance sheet today."
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