Smithfield Foods Inc. (SFD) - NYSE
SFD is defunct since September 26, 2013. Acquired by Shuanghui International
  • Sep. 4, 2012, 12:05 AM
    Notable earnings before Tuesday’s open: CPB, SFD
    | Sep. 4, 2012, 12:05 AM
  • Sep. 3, 2012, 5:30 PM
    Notable earnings before Tuesday’s open: CPB, SFD
    | Sep. 3, 2012, 5:30 PM
  • Aug. 24, 2012, 12:53 PM

    Corn and soybean futures have reached record highs this month on the CBOT, but the short term outcome is more likely to be muted on the price of meat, according to the latest USDA food report. The price of meat, poultry and fish will rise 3% to 4%, one-half of a percentage point less than estimated last month, as the price of corn - its main feed source - surged, pushing ranchers to send animals to slaughter sooner and temporarily boosting supplies.

    | Aug. 24, 2012, 12:53 PM | 1 Comment
  • Aug. 8, 2012, 3:46 PM
    Fears that the U.S. drought will drive up food prices next year are mostly unfounded, WSJ's Josh Mitchell writes, calculating the average consumer will spend only an extra $2.73/month. Food accounts for only ~14% of consumers’ daily living expenses, and given that prices for other items are falling or subdued, overall inflation likely will remain muted. (also)
    | Aug. 8, 2012, 3:46 PM | 9 Comments
  • Aug. 7, 2012, 9:10 AM

    Morgan Stanley reduces Smithfield Foods (SFD) to Underweight with its stance that weak consumer demand and corn prices hitting $8 will cut into results. Shares of SFD are 9.9% off their summer highs, set before the Midwest drought took hold.

    | Aug. 7, 2012, 9:10 AM
  • Aug. 6, 2012, 7:58 AM

    Even before a widespread drought hit the U.S. this summer, the nation's cattle herd was shrinking to low levels and pushing prices up. Now prices look set for another run higher as Tyson (TSN) warns on periods of imbalance of fed cattle supply in 2013. While sellers such as SFD, HRL, SAFM, and PPC may get away with passing on higher prices to consumers, will restaurants chains such as McDonald's (MCD), Wendy's (WEN), and Chipotle (CMG) have to absorb the higher input costs?

    | Aug. 6, 2012, 7:58 AM | 3 Comments
  • Aug. 1, 2012, 1:40 PM

    Food price increases resulting from the Midwest drought that ravaged crops might not be as steep as some expect, according to some analysis. Fruit and vegetables crops are relatively stable due to irrigation, while corn ingredients typically only make up a a small portion of many common packaged food items. For the time being beef and milk prices could actually dip as farmers sell off cattle that they can't feed effectively, though next year consumers could take the hit when the dwindling number of cattle directly affects beef and dairy prices.

    | Aug. 1, 2012, 1:40 PM | 7 Comments
  • Jul. 27, 2012, 11:32 AM

    Smithfield Foods (SFD) CEO Larry Pope calls on Congress to pass a bill lowering the U.S. government's Renewable Fuels Standard, which requires a certain volume of ethanol - 15.2B gallons in 2012, mainly derived from corn - be blended into gasoline. Corn prices have hit record highs, but the program is "aggravating the problem and adding to the crisis," Pope says. (also)

    | Jul. 27, 2012, 11:32 AM | 3 Comments
  • Jul. 24, 2012, 12:29 PM
    The grain rally falls off the tracks as both corn (down $0.40) and beans (down $0.70) are locked limit down at the CBOT.  At $7.74 bushel, corn is off 5% on the session. Wheat isn't yet limit down, but is off 6.3%. Smithfield (SFD) hurriedly revisits its decision. JJG -5.5%.
    | Jul. 24, 2012, 12:29 PM | 1 Comment
  • Jul. 24, 2012, 12:19 PM
    Smithfield Foods (SFD +0.4%) will begin importing corn from Brazil, a move that reflects how surging costs for U.S. feed grains are rippling through the livestock and meat industry. Tyson Foods (TSN) declines comment on whether it is doing the same. As U.S. corn futures have rallied to ~$354/metric ton due to hot, dry weather, corn at Brazilian ports is said to be going for ~$290.
    | Jul. 24, 2012, 12:19 PM
  • Jul. 16, 2012, 7:08 AM

    CLSA downgrades (I, II) both Tyson Foods (TSN) and Smithfield Foods (SFD) to Underperform from Buy and slashes price targets on the pair of protein sellers. Analysts with the firm keep up the common theme on the Street that food names may not be properly hedged for the steep rises in corn and soybean meal. Weekend rain did little to help the Midwest drought condition. (NOAA Drought Monitor)

    | Jul. 16, 2012, 7:08 AM
  • Jul. 13, 2012, 9:33 AM

    Food companies continue to fall out of favor with analysts. Credit Suisse removes Smithfield Foods (SFD -0.6%) from its U.S. Focus List with feed prices rising and protein demand slipping, while Goldman Sachs downgrades Dean Foods (DF -1.5%) to Neutral from Buy with an eye on higher milk commodity prices.

    | Jul. 13, 2012, 9:33 AM
  • Jul. 12, 2012, 7:50 AM

    BofA reduces its rating on Tyson Foods (TSN) and Smithfield Foods (SFD) to Underperform from Buy with corn prices higher and demand for protein unstable. It's a bit of a late call with both names already beat back over the last few weeks as the nation's Midwest has seen scorching temperatures, but analysts with the firm see even more downside ahead.

    | Jul. 12, 2012, 7:50 AM
  • Jul. 11, 2012, 3:37 PM

    Meat producers such as Smithfield Foods (SFD +0.3%), Tyson (TSN -0.3%), and Pilgrim's Pride (PPC -5.5%) are on watch to see how well their hedges worked over the last month to protect against higher prices for corn and soybean meal. Push finally comes to shove for the industry after it promised to deliver better returns than it did during 2008 and 2009 when hedges flopped and companies saw wide losses on fluctuating prices. For better or worse, things will be simpler for Sanderson Farms (SAFM -0.8%) with its policy of forsaking hedging to buy feed at spot-market prices.

    | Jul. 11, 2012, 3:37 PM | 1 Comment
  • Jul. 9, 2012, 3:24 PM

    An outbreak of a bird flu in Mexico appears to be worse than expected with over 2.5M chickens now affected and another 1M birds already destroyed. Though the effect on U.S. companies (if any) is still getting debated, shares of chicken sellers are trading lower with a downgrade on sector names from BMO Capital Markets also affecting sentiment. Decliners: SFD -4.5%, HRL -1.8%, TSN -2.5%, PPC -8.3%, SAFM -2.2%.

    | Jul. 9, 2012, 3:24 PM | 4 Comments
  • Jul. 5, 2012, 5:35 PM

    Hot, dry weather isn't only plaguing midwestern farmers, as drought conditions also have hit areas in Russia and around the Black Sea, prompting reductions in grain forecasts. Yet food prices have been falling in recent months, and analysts such as Cowen's Colin Guheen expect “benign” inflation in 2012-13; he says the risk is not great for select food companies such as SFD and SWY.

    | Jul. 5, 2012, 5:35 PM | 1 Comment
Company Description
Smithfield Foods, Inc., together with its subsidiaries (the “Company,” “we,” “us” or “our”) began as a pork processing operation called The Smithfield Packing Company, founded in 1936 by Joseph W. Luter and his son, Joseph W. Luter, Jr. Through a series of acquisitions starting in 1981, we have... More
Industry: Meat Products
Country: United States