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Thread: Soon we'll all have Chinese speaking pigs...

  1. #1
    Senior Member Mucho Bocho's Avatar
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    Soon we'll all have Chinese speaking pigs...

    Smithfield Foods has entered into a multi-billion dollar merger agreement with a top Chinese meat producer. Smithfield’s North Carolina hog processing plant is the largest in the world. The company already sells pork in 12 countries. But now Shuanghui International based in central China has agreed to acquire Smithfield for $4.7 billion. The total deal is valued at $7.1 billion.

    Not sure what that exactly means, but outsourcing our life stock food supply can be good for US consumers?

  2. #2
    In Chinese, the word "meat" on its own always means "pork". Not surprising that a Chinese processor wants to buy up others who are big in the pork game in order to continue growing.

    For anyone who is not a fan of corporate mega-processing, this doesn't actually change things much. It's still a business that responds to what kind of pork people spend their money on.
    Len

  3. #3
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    Investors from other countries have always bought up US companies. ~30 years ago the worry was Japan was going to own the US. Smithfield is 'international', so in 11 of the 12 countries where they do business they are already 'owned' by a foreign country (the US). On a more personal note, my broker advised me to buy stock in them 5-6 years ago. Then they ran into issues with distribution deals in foreign countries falling apart. This announced deal finally gets my stock purchase back to the break even point
    __________
    David (WildBoar's Kitchen)

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    Well I hope for you people in the Hew Hass Hay that the pigs are not sourced from Zhejiang Province where over 16,000 pigs were found dumped and floating in the rivers recently. The pigs were found to have a porcine virus that's not supposed to be infectious to humans. Not yet anyway.

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    i really need to step up my bowhunting skills with hog hunting. those things are smart!! (or give up on my vow and pick up my rifles)

    most of my pork comes from the lady across the street. she gives me a live hog once a year. i just have to help with butcher duties.

    the hogs will still be raised in the good ole USA right? as long as USDA practices remain..good to go..right?

  6. #6
    The purchase isn't to bring Chinese pork into the US; it's vice versa. China wants more US pork. http://online.wsj.com/article/SB1000...044165756.html

    As for "good" USDA practices, I'm not sure they're "good" at all. http://www.usda.gov/oig/webdocs/24601-0001-41.pdf
    Michael
    "Don't you know who he is?"

  7. #7

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    I'm sure it's an interesting article, Michael, but I'm not buying a WSJ subscription to read it. <g.

  8. #8
    Sorry. I was able to read it earlier, but now it shows the subscription required image.

    Here's a Forbes article about it. Hopefully, it's free. http://www.forbes.com/sites/simonmon...or-pork-trade/
    Michael
    "Don't you know who he is?"

  9. #9

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    Thanks, Michael.

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    As for "good" USDA practices, I'm not sure they're "good" at all.
    something we can agree on as well. aside from practices, i'm not even sure it even gets followed 90% of the time all the time.

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