Cargill’s quarterly earnings were pressured by elevated cattle and cocoa costs, while poultry investments in Thailand and the Philippines expand its global operations.
The disruption comes months after Savanna Beef secured EU export access, putting pressure on a loss-making processor still ramping up production and dependent on international markets.
The acquisition will expand Hormel’s value-added chicken portfolio and foodservice capabilities as the company reshapes its protein business through strategic portfolio changes.
Maple Leaf Foods will wind down its Seattle and Turners Falls facilities by 2027 as it consolidates US plant-protein production and invests in its Indianapolis operation.
The proposed program has a budget of more than US$345 million for 2026-2030, pending final approval.