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News and analysis on the global poultry
and animal feed industries.
on October 22, 2008

Hormel Foods revises outlook for 2008 fiscal year

As a recent decline in global financial markets negatively impacting their rabbi trust investment performance, Hormel Foods is lowering its expectation for fiscal 2008 earnings.

Hormel Foods Corp., a multinational marketer of consumer-branded meat and food products, is lowering its expectation for fiscal 2008 earnings as a result of the recent decline in global financial markets negatively impacting their rabbi trust investment performance.

"We are lowering our full year guidance to $2.03 to $2.09 per share from our earlier guidance range of $2.22 to $2.28 per share. However, we expect to beat fiscal year 2007 results for the full year on a segment operating profit basis," said Jeffrey M. Ettinger, chairman of the board, president, and chief executive officer.

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