Smithfield Foods - Competitors

Smithfield Foods Competition

Now Viewing Smithfield Foods's competition in: Meat Products Manufacture (primary)

Recent Developments

Beef Exports to Korea Resume - After nearly seven weeks of South Koreans protesting imports of US beef due to fears of bovine spongiform encephalopathy (BSE), or mad cow disease, the imports resumed in July 2008. The Korean government agreed to resume US beef imports under condition that they be confined to lower-risk cattle of 30 months old or less. Korea has traditionally been the third-largest export market for US beef after Canada and Mexico.

Survey Highlights Shifting Food-Buying Habits - A survey by consumer product and food company Unilever suggests that US consumers are changing their buying patterns amid the mortgage crisis, volatile stock market, and high energy costs. Products most consumers say that they won't abandon include fresh meat, seafood, and canned vegetables. Soft drinks, cookies, and frozen dinners are products that consumers say they'd cut if tough times persist.

Researchers Develop Test for Mad Cow - US researchers have developed a test to detect if bovine carcasses and cut meats are contaminated with brain or spinal cord tissues that may cause BSE. The test is based on detecting a fluorescent pigment that appears in high concentration in cattle nervous systems. The discovery is the first step toward developing a device that can test carcasses for brain and spinal cord tissue in real time.

Competitive Landscape

Demand is driven by consumer income and by exports. Because meat is largely a commodity, the profitability of individual companies depends on efficient operations and an effective distribution network. Large companies have big economies of scale in production and distribution. Small companies can compete effectively in a local area or by producing unique products.

Full Industry Overview For Meat Products Manufacture

Meat Products Manufacture Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of US meat product manufacturing is forecast to grow at an annual compounded rate of 4.4 percent between 2007 and 2012.

Meat Products Manufacturing Growth Stabilizes

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.