America Has Too Much Pork; Glut of Pigs Squeezes Hog Farmers and Meat Companies
Years of rapid expansion have left the $54 billion U.S. pork industry oversupplied as demand wanes, costs rise and new regulation looms, according to meatpackers and farmers.
So far, though, the glut of pork on the market has yet to translate into lower prices for consumers.
Hog farmers in the U.S. are being squeezed and even driven out of business as they lose money at their worst rate in decades. Meatpacking companies, including Smithfield Foods, Tyson Foods and JBS, said pork profits are shrinking...
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