date:Nov 21, 2012
ults in the company's value-added businesses did not fully offset lower pork operating margins and losses in Hormel's live hog operations. Sales for the quarter declined 3 percent on lower commodity meat prices. Hormel pepperoni and party trays in the Meat Products group and Hormel Natural Choice deli meats in the Foodservice group led growth in value-added products, according to the company.
Jennie-O Turkey Store had a solid quarter with profits up 5 percent. Jennie-O accounted for 20 percen