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Iowa Ag Review

Abstract

Farmers and food manufacturers continue to evolve toward a business model that emphasizes financial efficiency and lower consumer prices. American consumers are driving this movement by spending an increasing proportion of their food dollar at fast food restaurants and at mammoth food retailers such as WalMart, Albertsons, and Krogers. What these restaurants and retailers have in common is the need for predictable, uniform, low-cost supplies. They find that they can best meet their needs by conducting their business with large, innovative food manufacturers, such as Hormel, ConAgra, Kraft, Nestle, and Smithfield, or by working directly with the largest farmers, such as the company founded by J.R. Simplot.

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