Latest news with #porkprocessing
Yahoo
14 hours ago
- Business
- Yahoo
A Chinese Company Actually Owns This Staple American Hot Dog Brand
To Americans, there might not be anything more emblematic of summertime than the humble hot dog. In fact, Americans eat a staggering number of hot dogs on the Fourth of July alone. One of the most recognizable brands for Independence Day and hot dog-worthy occasions throughout the year is Nathan's Famous. In a blind taste test to determine the best hot dogs, the brand scored second. If you've spent any time on the boardwalk in Coney Island, you've probably eaten a dog or two from Nathan's and maybe even seen the Nathan's Hot Dog Eating Contest. So it may come as a surprise that this brand with a very American vibe is controlled by a Chinese company. Nathan's is owned by Smithfield, which itself is actually owned by Chinese conglomerate WH Group Limited. Yep, America's most iconic all-beef hot dog is owned by a Chinese corporation that also happens to be the largest pork processing company in the world. In 2013, it acquired Smithfield for $4.7 billion, and the company overall had nearly $26 billion in sales in 2024. That's a whole lot of sausage. Read more: The Highest And Lowest Quality Hot Dogs You'll Find At The Grocery Store Opinions about China in the U.S. can lean negative, so it makes sense that some United States officials are worried about Chinese investments in American agriculture, including pork production. However, the investment of Chinese companies overall is relatively small. According to USDA estimates from 2021, Chinese-owned companies held about 384,000 acres of American soil. Smithfield properties accounted for around 100,000 acres of that. To put it all in perspective, Canadian companies owned more than 12 million acres, and companies owned by the Netherlands held close to 5 million acres. That figure even appears to have decreased, as 2023 USDA estimates clocked Chinese company acreage at around 277,000 -- this is less than 1% of all land owned by foreign companies in the U.S. Holdings from Canadian companies, on the other hand, increased by more than 3 million, which amounts to 33%. China's economy, depending on how you slice it, is about the same size as the United States'. Most Chinese agricultural investments are actually in Russia and around Asia. It's hard to make the case that Chinese farm and agricultural investments are taking over the U.S. when they don't even compare to Canadian-held land. But whether or not you're afraid of Chinese-owned companies that make hot dogs, slapping some Nathan's Famous franks on the grill won't do you any harm. For more food and drink goodness, join The Takeout's newsletter. Get taste tests, food & drink news, deals from your favorite chains, recipes, cooking tips, and more! Read the original article on The Takeout.
ABC News
04-06-2025
- Business
- ABC News
About 270 workers to lose jobs as SA's Seven Point Pork meat processor closes
Crisis talks are underway after South Australian meat processor JBS announced it would stop operating its Seven Point Pork (SPP) processing facility at Port Wakefield in early January next year. About 270 jobs will be lost, including 160 belonging to people who live in the regional council area. JBS pork division chief operating officer Edison Alvares said the decision came after a reduction of a significant number of pigs from one of the company's key strategic partners. "Due to the significant number of pigs involved, and the unavailability of replacement pigs, the Port Wakefield facility is simply no longer viable as a pork processing facility in the short term," Mr Alvares said. "We recognise the impact and concerns this decision has on our valued workforce, their families, and the local community. "We will continue to work hard to explore business opportunities that may support the recommencement of operations at the Port Wakefield processing facility in the future." JBS has said it would also meet any obligations it had to its workforce and its suppliers. A Coles spokesperson said the company was shifting some pork processing to other states to reflect growing customer demand. "South Australia will remain our biggest state supplier of pork — and we want to reassure the community that we are committed to delivering South Australian pork for South Australians," they said in a statement. They said Coles would be expanding its partnership with Big River Pork in Murray Bridge from next year. "We believe this evolution in our pork supply chain will deliver long-term benefits for customers, farmers, and the environment by creating a more streamlined and efficient pork supply chain, as we work to meet the growing demand across Australia," they said. Federal Liberal member for Grey, Tom Venning, said it was "very disappointing" to hear 270 workers would lose their jobs in January. He said it was also disappointing for suppliers who were already dealing with drought. "It's rubbing salt into injury in a year which is very, very dry," he told ABC Radio Adelaide. "For mixed farmers, the pigs are the only profit they're making so it's very disappointing." Mr Venning said he had sought further clarification from Coles around the decision, but said that "reading between the lines it seems like production is moving from South Australia to Victoria to be closer to market" because the cost of doing business was higher in South Australia. According to Seven Point Pork's website, the abattoir had a "long-standing relationship" with 20 farms around the country. While pork production will continue at Murray Bridge plant, Big River Pork, Mr Venning said there would be less South Australian pork on the shelves in the long term as Victoria ramped up production. As the major employer for Port Wakefield and the surrounding towns, Mr Venning said the abattoir's closure would have "huge ramifications" for the wider community. Pork SA committee chair and Murray Bridge pig farmer, Greg Davis, said pork supplies were in such demand across Australia he did not expect producers affected by Seven Point Pork's closure would have too much trouble finding new markets. "I don't think it will be too much of a problem," he said. "We think we've got the capacity in South Australia to handle the processing of all the pigs that South Australia produces." However, he said there would be additional freight costs for some producers. "That's an added cost to those guys, unfortunately," he said. "There's not much of an alternative, unfortunately.. "But we're very lucky, we're very fortunate in the pig industry this year that pork prices we're receiving are reflective of our costs. "We're doing OK, but it is tough going. "We'd love to see some rain … and we feel for our farming counterparts that are doing it tough at the moment."
