Mortgages, Remortgages and Home Loans

Mortgage Broker The US government put a 14% tariff on imports of Canadian hogs and feeder pigs that goes into effect this week, which could help Smithfield Foods, the largest producer in the USA.

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Reverse Mortgage Oct 26, 2004 (AXcess News) Smithfield VA - Smithfield Foods (NYSE: SFD), the world's largest hog producer and processor, could get a boost from the US Department of Commerce's recommendation of placing a 14% tariff on hogs and feeder pigs imported from Canada. The Pork Trade Action Coalition, an industry group, has vowed to fight the import duty.

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Mortgage Quote Willamette Valley Oregon packing plant, Carlton Farms, said that most producers in their area do not produce enough swine and that a large portion of the 1,200 weekly pork processed comes from Canada.

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Florida Mortgage Government regulators proposed the duties after the the National Pork Producers Council, 20 state pork associations and 101 individual pork producers filed a petition with the U.S. International Trade Commission claiming that imports of live swine from Canada are being subsidized and sold at less than fair value, or "dumped," in the United States.

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California Mortgage Loan John R. Block, a former US Secretary of Agriculture, was quoted as saying that Canada only accounted for 3.3% of the US hog market. Block is a spokesperson for the Pork Trade Action Coalition.Canadian hog imports actually increased 38% from 2001 to 2003. Nearly 7.5% of the more than 99 million hogs slaughtered in US plants last year came from Canada, which could turn Block's comments back if statistics were stacked against him and the PTAC.

Florida Mortgage Loan Hog prices rose the 2-cent daily limit at the Chicago Mercantile Exchange Friday, with the December contract up at 66.850 cents per lb. Monday, the December contract closed down at 65.525.Advertisement

California Mortgage Smithfield, which was downgraded last week by SunTrust Robinson Humphrey to "neutral" from "buy", has faced higher feed costs for both cattle and hogs and until Japan and South Korea begin importing beef those costs could continue to hold Smithfield shares down.Last week Smithfield completed the acquisition of four feed cattle lots from ConAgra, days before the USDA announced that Japan was agreeable to lifting its ban on US beef.

Bad Credit Loan Mortgage Smithfield Foods closed up 21 cents Monday at $23.89.Hormel Foods (NYSE: HRL), a competitor of Smithfield, closed up 3 cents at $26.80. Tyson Foods (NYSE: TSN) closed down 49 cents at $14.12, due in part to a downgrade of Pilgrims Pride (NYSE: PPC) by Credit Suisse First Boston Monday.

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