Smithfield Foods CEO Shane Smith expressed optimism about the company’s future as it returned to the public stock market more than a decade after being acquired by China’s WH Group. Smith emphasized the company’s growth outlook while downplaying concerns about potential labor shortages due to mass deportations and the continued impact of bird flu on the meat industry.
Smith said Smithfield has worked to make its processing plants more attractive workplaces, particularly after the COVID-19 pandemic disrupted the industry. With President Donald Trump vowing widespread deportations, there is uncertainty about how immigration policies might affect meatpacking labor, but Smithfield’s leadership remains confident in its ability to adapt.
Smithfield has also shifted focus toward its packaged meats business, featuring well-known brands such as Eckrich, Armour, and Nathan’s Famous. The company has streamlined costs in an effort to boost profitability.
On its first day back on the stock market, Smithfield’s shares debuted at $20 and experienced a slight dip before closing near the initial offering price. The company raised approximately $522 million from the offering.
As one of the world’s largest pork producers, Smithfield’s return to public trading marks a significant milestone. However, the company faces ongoing challenges, including market fluctuations, labor concerns, and animal disease risks. Despite this, Smith remains confident in Smithfield’s long-term growth strategy.
Sabrina Halvorson
National Correspondent / AgNet Media, Inc.
Sabrina Halvorson is an award-winning journalist, broadcaster, and public speaker who specializes in agriculture. She primarily reports on legislative issues and hosts The AgNet Weekly podcast. Sabrina is a native of California’s agriculture-rich Central Valley.