Smithfield Foods stock recovers; CEO points to tariff troubles

Smithfield Foods SFD.O CEO Shane Smith said Wed that tariffs make it more difficult for the largest U.S. pork processor to sell all parts of a pig; stock recovering 0.9% to $19.44 after recent declines

SFD now up over 4% in past two sessions, rebounding from a steep selloff since late February

SFD sold shares at $20 in a weakly received initial public offer on January 7

CEO Smith highlighted tariffs imposed by China on $21 bln of U.S. agricultural products, affecting offal exports. Those tariffs were a response to tariffs imposed on China by U.S. President Donald Trump

Smithfield does not export significant meat to China but relies on offal exports such as pig stomachs, hearts and heads, which U.S. consumer generally do not eat. Those exports face increased tariffs

Canada last week suspended imports from Smithfield's Tar Heel facility due to offal issue, unrelated to tariffs