Meat conglomerate Smithfield Foods just posted a $12.6 million loss for its most recent quarter, as high grain prices continue to undermine the business model of factory farms. The New York Times has an article detailing Smithfield’s many problems:
The commodities market is so volatile, its chief executive said, the company doesn’t even want to try to predict its future earnings.
Investors just love a lack of reliable financial projections. Link.
