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More Pig Losses Seen, Smithfield Says

05/14/2014 @ 7:55am

The swine industry is struggling to contain a deadly virus that's sweeping U.S. hog farms, and pork giant Smithfield Foods (SFD) sees a bigger potential hit to the overall herd than some of its rivals. Tim Sullivan, Smithfield's CFO, says on conference call that the China-owned meat producer estimates a 3% to 7% dent to U.S. hog numbers due to the virus, potentially higher than the 4% estimated last week by Tyson Foods (TSN). "There's no question that like others in the industry,  we will have fewer pigs this year," Mr. Sullivan says, though Smithfield will be able to meet obligations to its customers. (jacob.bunge@wsj.com; @jacobbunge)

(END) Dow Jones Newswires

May 14, 2014 08:30 ET (12:30 GMT)

DJ Smithfield Sees Potential for Steeper Pig Losses -- Market Talk->copyright

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