What Do You Think About The Smithfield Sale?

The intended purchase of Smithfield Foods by China’s largest publicly traded meat processor was big news last week. While Smithfield is huge in the U.S. pork market, controlling 26% of U.S. hog slaughter capacity and 16% of the sow herd, its production amounts to only 1.7% of the Chinese sow herd and 3% of China’s 2012 slaughter.This week’s online poll question is:“What do you think about the Chinese purchase of Smithfield?” Be sure to leave your thoughts in the comments section after voting.

Discuss this poll 29

Anonymous
on Jun 20, 2013

You're not just selling pork bellies, you're selling our technology/farmland, which will put the U.S. at a competitive disadvantage for years to come. It's taken this country many years to become the leader in food exports, and the govt. (i.e. taxpayers) payrolled a lot of the investment behind that. Just because China has deep pockets shouldn't mean U.S. companies start giving away the farm!! Where does it end??

Anonymous
on Jun 17, 2013

It is extremely dangerous to allow a non freindly nation to gain control of our food supply. They can take over this country without ever firing a shot.

Anonymous
on Jun 14, 2013

I don't see anything good for the USA coming out of this

Anonymous
on Jun 13, 2013

It stinks. It is all about global control. Remember china is not our friend Never buy anything with the name china on it. American dollars going there that they will shoot back some day.

Anonymous
on Jun 13, 2013

Think OPEC has us over a barrel? Wait until you have to buy your food from the Chinese. China was once the second largest communist economy but has realized that capitalism will allow them to prosper and become a world economic leader. Meanwhile. as the US is slipping further into socialism, our productivity lessens and our economic strength declines. Selling the control of our economic assets overseas is never a good idea.

Anonymous
on Jun 13, 2013

Obama administration is selling us out to China already so this is a very small part of what is going to be controlled by the Chineese.

Anonymous
on Jun 13, 2013

It will help smaller scale local and regional producers.

Anonymous
on Jun 13, 2013

If they'll slip Melamine into our dog food supply who knows what they'll do to our pork. I've vowed to not purchase anything from Smithfield or any of their other numerous brands. Sorry Smithfield but you couldn't resist that greed could you?

Anonymous
on Jun 13, 2013

We sold the machine that helped China to build ICBM what else will we sell them

Anonymous
on Jun 13, 2013

Not a very good idea, to have a foreign country controlling our food supply.

Anonymous
on Jun 13, 2013

I think it's a bad idea due to the fact that China may set the prices here in the U.S. where we can not afford it. And sell to their country cheaper. And who knows, if their is a shortage of pork, figure it will go to China and leave the U.S. without?

Anonymous
on Jun 13, 2013

Can someone address the concern of how we can be guaranteed that China's unsafe food practices will not find their way into the Smithfield products?

Anonymous
on Jun 12, 2013

It provides jobs in the US. It helps the poor Chinese people get high quality, safe American pork. Fewer people going hungry in the world is a good thing. It's a win for the US and a win for China (unless Win is a chinese name of course).

Anonymous
on Jun 12, 2013

In conversation last week with persons not from the states there was an opinion that China is attempting to bolster their food supply in advance of population demands. This would put the US in an odd position and given the validity of the case, makes me very uncomfortable.

Anonymous
on Jun 10, 2013

I have mixed feelings about the purchase of another US business by foreign investors. I feel that we are losing another part of America.
On the other hand this could be good for Smithfield workers and producers. China may import more US meat due to the purchase, increasing our exports and jobs and meat production, which equals dollars for the US economy.

Anonymous
on Jun 10, 2013

All knows that China is having an unsettled economy and the U.S. will have little control on the prices that Shuanghui Intr will set on it's products sold. I just hope the farmer is not the one who loses on this.

Anonymous
on Jun 9, 2013

More about money than safety, If this deal is approved I will never purchase this product again. More people in this Country need to stand together to stop this crap. .Its all about what China can do for them to pad their pockets.The only ones that say its good have something to gain from it. Thank You NAFTA for high unemployment, closure of countless US production facilities, all just to hand it all over to China on a paper plate because that's all anyone will be able to afford.

Anonymous
on Jun 13, 2013

As a Canadian also believe wrong but I take exception to the comments about nafta they remind me of the socialist nay Sayers the fact is the Canadian economy is much more competive now and most market altering mechanism have been removed I admire the American presidents such as regean and bush ironically I am a liberal under Obama u have gotten to protectionist having said that the smithfield sale is bad as much as cool is

Anonymous
on Jun 7, 2013

I don,t like it. I believe they advantage uping the prices consumers will have to pay later. They will get technolgy and carry it to china and that will be more jobs lost.

Anonymous
on Jun 7, 2013

The Wall Street boys (Robber Barons) get control of our Corporations then sell them off to anybody. .....
then pay little if any taxes.

Anonymous
on Jun 7, 2013

I would really like to know the details/convolutions of the financial aspects of this transaction and what the sale might mean for pork export/import and the net impact on domestic pork prices at retail.

Anonymous
on Jun 7, 2013

As a 72 year old, born and raised 1 hour from Smithfield, and spent many hours helping my Dad deliver finished hogs there, it was sad story for me to read. I don't have a huge problem with foreign investment, but I do not like foreign takeovers/ownership particularly of our food supply. It is all about the money and China seems to have a lot of it.

Anonymous
on Jun 7, 2013

Nations with foreign exchange surpluses, (England 19th century, US 20th century, China 21st century) are going to invest it overseas. If you don't like that, quit consuming low priced Chinese goods and buy expensive US and European goods. Smithfield deal can't hurt, and might help, US protein industry gain a better understanding of oriental markets.

Anonymous
on Jun 13, 2013

It is a great move! The more Chinese are invested in productive enterprises in the US and American investors are invested int Chinese productive enterprises the less likely we are to swap ICBM's with one another.
"The more freely goods and people and money flow across borders, the less likely armies will." JRD
johndykesmd@dykers.com

Anonymous
on Jun 7, 2013

I dont know what efect it will have on the pork market. But I think it is a bad move for america to turn over our food and industrial production to a foreign enity.

on Jun 7, 2013

It might be good for the pork industry, but is it good for America as a whole to allow China to buy into the U.S. anymore than they already have?

Anonymous
on Jun 7, 2013

"It’s good. The purchase shows that foreign investors like the U.S. protein market, and it might help U.S. beef get into China."

Anonymous
on Jun 7, 2013

It's good

Anonymous
on Jun 7, 2013

Hopefully the media will study the money trail. This deal was financed by Bank of China and JP Morgan (Hong Kong), I think. What does this mean long term? Is Bank of China's funny money going to win out over Ben Bernanke's funny money? If so, get use to these take overs. Better buy some commodity stocks. Good luck investing in this world of paper money.

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