NEWS
Hearing Planned on Smithfield
Chris Clayton DTN Ag Policy Editor
Thu Jun 27, 2013 01:18 PM CDT

OMAHA (DTN) -- The Senate Agriculture Committee will hold a July hearing in Washington to examine the impact of the sale of Smithfield Foods to a Chinese company.

Smithfield announced last month the Virginia-based pork producer would be sold to Shuanghui International for $7.1 billion when debt is included. If finalized, it would be the largest purchase of a U.S. company by a Chinese business.

Industry economists and pork producers have said the main takeaway from the sale is that the U.S. will grow exports to China. Currently, China comes in as the fourth-largest market for U.S. pork, taking up ...

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