China's tariffs, low pork prices weigh on Hormel; company to fetch $30 million for Nebraska plant

Hormel Foods Corp. wants to improve its position as a food marketer and reduce the effects volatile hog markets have on it, executives said Thursday as they provided the first explanation for selling its giant Nebraska hog slaughterhouse.

The discussion came as Austin, Minn.-based Hormel reported sales growth that matched analysts' expectations for its latest financial period but lowered their short-term outlook due to tariffs imposed by China on U.S. pork exports.

http://www.startribune.com/hormel-reports-third-quarter-sales-growth-and-30-million-price-tag-for-nebraska-plant/491540631/