Smithfield Foods has negotiated an agreement with Murphy Family Ventures to assume ownership of 150,000 sows and their progeny to produce 3.2 million hogs of market weight annually for packaging. Under the agreement Smithfield will provide feed, transportation and services with Murphy Family Ventures serving as the contract entity.
Dell Murphy president and CEO of Murphy Family Ventures noted, “Our family has enjoyed the past 24 years as a contract growing partner with Smithfield and we look forward to restoring our heritage as an independent producer.” Shane Smith, CEO of Smithfield Foods noted that the agreement was consistent with the intention of his Company to focus on consumer products. He stated, “With this agreement we continue the transformation while ensuring a supply of hogs from a family farming operation with a long history and strong commitment to best practices.”