Farm Progress

Farm Progress America, Feb. 5, 2025Farm Progress America, Feb. 5, 2025

Mike Pearson takes a look at Smithfield Foods and it's return to U.S. markets after being gone for 11 years.

February 5, 2025

Mike Pearson takes a look at Smithfield Foods-- where the company started and where it's going.

After more than a decade as a private company, Smithfield Foods made a return to the stock market.

After more than a decade under the private company, Hong Kong based WH Group, Smithfield Foods went public again.

The initial public offering did price lower than anticipated. It sold for $20 a share lower than the $23-$27 the company forecasted.

The IPO values the company at $7.5 billion even with pork volatility in the market.

The company is doubling down on packaged meats rather than fresh pork exports.

The capital raised is supposed to pay down debt and provide capital for upgrades and innovation.

The company wants to upgrade facilities with the money raised from the stock sale.

Smithfield Foods is looking for growth from the stock sale.

Despite the price at the stock market, the influence of Smithfield Foods on the pork market is undeniable.

The company wants to shift more pork into package meats rather than fresh pork exports.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.

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