Core Insights - Smithfield is restructuring its U.S. manufacturing operations in response to rising costs for live animals and is seeking new cost-saving measures [3][5] - The company is expanding its beef offerings while primarily focusing on pork, highlighted by its recent acquisition of Nathan's Famous all-beef hotdogs for $450 million [4] - Smithfield plans to invest up to $1.3 billion in a new automated packaged meats and pork processing plant in Sioux Falls, South Dakota, expected to begin production by the end of 2028 [9] Industry Context - Rising hog costs are anticipated to continue in 2025, driven by increased demand for protein, while record-low cattle supply has led to historically high beef prices [3] - Other meatpackers, such as Cargill, are also investing in automation to enhance efficiency and reduce costs [8]