February lean hog futures on Wednesday closed steady at $87.85. Hog futures saw a pause after hitting a 3.5-month high on Tuesday. The premium futures hold to the cash hog and CME index suggest futures traders look for a higher cash hog market in the coming weeks. The latest CME lean hog index is up 27 cents at $82.03. Thursday’s projected cash index price is up another 37 cents at $82.40. Tuesday afternoon’s five-day rolling average cash hog price quote was $79.74.
Smithfield Foods says it will acquire Nathan’s Famous
The deal is reportedly valued at about $450 million, securing the rights to a key product in its business’s largest segment, reported Bloomberg. The acquisition will secure Smithfield’s rights to this iconic brand into perpetuity", as the company already held an exclusive license to make and sell Nathan’s Famous products that expires in 2032. The deal is expected to close in the first half of 2026 and provide annual cost synergies of about $9 million within two years of closing, said the report. Smithfield’s packaged meats segment is its biggest in terms of revenue, followed closely by its fresh pork business. Nathan’s Famous, the roughly 110-year-old company best known for hosting the famed Coney Island hot dog eating contest on the Fourth of July, began selling its products in supermarkets in 1983.
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