Smithfield Foods announced plans to build a new pork processing facility in South Dakota with a $1.3 billion investment. The plant will have capacity to slaughter approximately 20,000 hogs daily, representing a significant expansion of the company's U.S. processing capabilities.

This major capital expenditure comes at a time when Smithfield Foods faces increased regulatory scrutiny over its ownership structure and ties to China. The Virginia-based company, which is owned by WH Group of Hong Kong, has been under pressure from U.S. officials concerned about foreign control of critical food supply infrastructure.

The new facility will create hundreds of jobs in South Dakota and strengthen Smithfield's position in the U.S. pork market. The investment signals confidence in long-term demand for pork products despite recent market volatility and trade tensions affecting the agricultural sector.