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Smithfield Foods Forecasts Third-Quarter Loss in Fresh Pork Business

Smithfield Foods logoSmithfield Foods
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Smithfield Foods said its fresh pork segment is expected to swing to an adjusted operating loss in the third quarter. The company cited persistent pressure from lower hog prices and a shrinking industry market spread amid cautious spending. It also forecast lower current-quarter adjusted operating profit in its hog production business versus a year ago, sending shares down in extended trading.

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