Smithfield Foods Inc. Closing Hog-processing Plant

Smithfield Foods Inc. (NYSE: SFD) said Wednesday that its John Morrell & Co. unit is planning to close its hog-processing and fresh meat fabrication plant in Sioux City, Iowa on April 20.

The meat producer said that the plant employs 1,500 people and has the capacity to slaughter 14,000 hogs a day.

Smithfield said it isn't planning any additional closures at this time. However, there is still concern that the closure might affect the company's Sioux Falls plant, which has 3,000 employees and the capacity to slaughter 19,000 hogs a day.