Local

Economist Says Purchase of Smithfield by Chinese Company a Good Business Decision

Photo: clipart.com

Economist Says Purchase of Smithfield by Chinese Company a Good Business Decision

China’s largest pork processor is buying Smithfield Foods, the largest pork processor in the United States for $4.7 billion.

Paragon economist Steve Meyer says this deal just made good business sense for China verses importing cheaper U.S. grain to feed to their own hogs for production.   He believes it will translate into more Chinese pork business for U.S. producers.

Meyer says the deal should also help ease concerns regarding pork produced with ractopamine, as well as other sanitary and phytosanitary issues the Chinese have had in the past.

And Meyer says the acquisition does not change the concentration level in the pork processing business.

The completion of the deal is pending U.S. government approval and a green light from the Committee on Foreign Investment on the U.S.  However, Meyer anticipates no regulatory red flags.

Recent Headlines

in National

Making headlines this week

AP792818563420

A look at the big stories that made news this week and the headlines you may have missed.

in National

Americans are really angry with Washington

america

Americans are angry with the handling of issues ranging from healthcare reform to the rise of Islamic State militants.

in Local

Rail Plan Approved

BNSF train 41714

The state Rail Board approved the new South Dakota rail plan at their meeting this week.

in Local

Siren Project Nixed

tornado siren

Bidding for the emergency siren project in the lake area of Yankton closed yesterday, but at their meeting yesterday afternoon, Commission members agreed not to go ahead with the project and to reject any received bids.

in Agriculture

Minnesota Farm Bureau Members Lobbying Congress

us capital

Minnesota Farm Bureau members are in Washington D.C. this week making hill visits. Cass County Farm Bureau President Miles Kuschel,…