Smithfield Foods is selling 150,000 hogs to Murphy Family Ventures, enabling the latter to regain its status as an independent pork producer while still supplying hogs to Smithfield. This deal marks a significant shift as Smithfield, facing a downturn in hog prices and aiming to streamline operations, moves away from its previous acquisition of Murphy Family Farms, which occurred in 2000. Murphy Family Ventures, established in 2004, focuses on supporting smaller agricultural businesses and is transitioning back to family-owned production in North Carolina.

Source: https://www.supplychaindive.com/news/smithfield-hogs-deal-murphy-family-ventures/734865/